USD The US dollar found its legs in yesterday’s trading session when US data came in mostly in line with expectations. The factory orders report showed a 0.5% dip while crude oil inventories showed a 3.2 million barrel shortfall. The ADP non-farm e...
USD/CHF has been in a sharp selloff for the past couple of weeks, mostly due to US dollar weakness. However price has started pulling up after dipping close to the .8850 minor psychological support. The Fibonacci retracement levels on the 1-hour time...
USD The US dollar had another weak run in the latest trading session, as risk appetite picked up at the start of the new trading month and quarter. Data from the US economy was also weaker than expected, as the ISM manufacturing PMI fell from 55.4 to...
The rising channel on AUD/USD’s 1-hour forex chart is still holding and it appears the pair found resistance at the .9500 major psychological level, which lines up with the top of the channel. At the same time, stochastic is moving down from the overbought z...
USD The US dollar lost a lot of ground to its forex counterparts at the end of the month and quarter, despite mixed economic data. Pending home sales marked a 6.1% increase while Chicago PMI fell from 65.5 to 62.6, reflecting a weaker expansion in the...
The downtrend of EUR/AUD is still intact, as the pair is trading below a falling trend line on its 4-hour time frame. However, the upcoming events this week could be crucial in determining whether this trend will carry on or not. Price is testing the...
USD The US dollar had a strong run on Friday, as data from the US economy came in mostly better than expected and traders booked profits off their dollar short positions. The UoM consumer sentiment reading was revised up from 81.2 to 82.5 versus expectations...
GBP/AUD is consolidating inside a descending triangle pattern, showing a potential range play for short-term traders or a possible breakout and longer-term bias for swing traders. Price is just testing the top of the triangle with stochastic moving down...
USD The US dollar suffered huge losses to most of its major counterparts in recent trading, as the GDP reading was downgraded to show a 2.9% contraction. Recall that the GDP has already been downgraded from an initial positive reading to a 1.0% contraction...
USD/JPY has been consolidating inside a symmetrical triangle for almost an entire month, as traders are torn in picking a clear direction for this pair. However, the bleak US GDP release has resulted in a sharp downside break from triangle support and...
