GBPUSD is consolidating inside an ascending triangle pattern on its 4-hour chart ahead of today’s event risks. Price just bounced off the bottom of the formation and may be due for another test of resistance around the 1.5650 minor psychological mark o...
USD The US dollar regained a bit of ground in recent trading, as economic data came in line with expectations. Factory orders picked up by 1.8%, a rebound from the earlier 1.1% decline. For today, the ADP non-farm employment change report is due and...
AUDUSD recently surged past the .7350 minor psychological resistance, which has served as a barrier towards the end of last month. Price topped out around .7420 and is showing signs of a pullback to the broken resistance. This potential area of interest...
USD The US dollar continued to advance against its forex peers at the start of the week, despite weaker than expected data from the US economy. The ISM manufacturing PMI slid from 53.5 to 52.7 in July, reflecting a slower pace of expansion in the industry...
CADJPY had been trading inside a descending triangle pattern on its 4-hour time frame before the pair made a break below support. This suggests that further losses are likely, possibly triggering a downtrend of around 400 pips or the same height as the...
EURUSD is currently testing the descending triangle resistance and might be due for a move back to the support at the 1.0850 minor psychological level. Stochastic is pointing down, indicating that sellers are in control, while RSI is on middle ground....
USD The US dollar had a volatile trading day on Friday, as profit-taking took place at the end of the month. Economic data from the US came in mixed, with the employment cost index falling short of expectations with a mere 0.2% uptick instead of the...
USD The US dollar gave up some of its gains when the US advanced GDP reading missed expectations. The economy expanded by only 2.3% in the second quarter versus expectations of 2.6% growth. Revisions to previous data also suggested that the economy...
AUDUSD is forming a double bottom pattern on its 1-hour chart, signaling a potential reversal from the selloff. Price has failed in its last two attempts to break below the .7250 minor psychological support level and is on its way to test resistance...
USD The US dollar had a volatile time during the FOMC statement but generally ended higher against its currency counterparts. The Fed didn’t give any explicit remarks on potential rate hikes but upgraded its wording to show a more optimistic a...
