NZDUSD has recently formed a double bottom pattern on its 4-hour time frame and seems to be confirming the potential reversal, as price has already broken above the neckline of the chart pattern at the .7600 major psychological resistance.  At the...

USD The US dollar was unable to shake off the downbeat vibes brought forth by the cautious FOMC statement, forcing the currency to end lower against most of its forexcounteparts for the week.  There have been no major reports released from the...

GBPUSD could be in for a reversal, as a double bottom pattern formed on its 1-hour forex chart.  This could be a sign that the recent downtrend is already over as soon as price breaks past the neckline of the formation around the 1.5000 major psychological...

USD The US dollar made a bit of a recovery to most of its forex counterparts in recent trading, as traders realized that the Fed is still the only central bank moving closer to hiking interest rates.  Price action was no longer as volatile in the...

NZDUSD seems to be starting an uptrend on its short-term time frames, as the pair is creating an ascending trend channel on its 1-hour chart.  The short-term moving average has just crossed above the long-term moving average, suggesting that an...

USD The US dollar gave up a lot of ground as most market participants weren’t too convinced that the Fed is ready to hike in June.  Although the FOMC removed the “can be patient” phrase in discussing policy normalization, they also downgraded growt...

GBPUSD made a strong bounce during the FOMC statement, as dollar bulls were disappointed to find out that the Fed lowered their growth and inflation forecasts.  Although the statement no longer contained the “patient” wording in discussing policy nor...

EURJPY might be done with its recent downtrend, as a short-term reversal pattern formed on its 1-hour time frame.  A double bottom can be seen, with price currently testing the neckline of the formation. Moving averages have also narrowed, indicating...

USD The US dollar returned some of its recent wins to its counterparts as traders started easing off their long positions ahead of the FOMC statement this week.  Data from the US was weaker than expected, as the Empire State manufacturing index...

EURUSD has been treading lower across all time frames but it seems that a short-term reversal might take place.  On its 1-hour chart, the pair has formed a double bottom pattern, indicating that the downtrend could turn. The pair has to break past...