USD   The dollar was sold off sharply after the FOMC statement but it was quick to recover some of its recent losses while holding steady against other major counterparts.  Economic data from the US was better than expected, with both Philly...

USD/CAD had a sharp drop followed by a quick retracement yesterday, as the FOMC statement against tapering triggered overall dollar weakness. The pair is currently finding resistance at the 61.8% Fib on the 1-hour time frame. Stochastic has already reached...

USD   The dollar suffered heavy selling in yesterday’s NY session, as the Fed decided against tapering asset purchases this month.  The policymakers agreed that the recovery isn’t stable yet and that the growth outlook has weakened. Bernanke did...

GBP/USD staged a strong rally yesterday, thanks to the upbeat BOE minutes and the Fed’s decision against tapering. This was enough to push GBP/USD past the upward channels on the 1-hour and 4-hour time frames. Right now, a bullish pennant consolidation p...

USD   The US dollar edged lower against its counterparts but seems to be consolidating for today’s Asian session, as traders are awaiting the FOMC statement.  The Fed is expected to taper bond purchases by $10 billion, possibly as a combination o...

NZD/USD has been on a very strong uptrend since the start of the month, as the RBNZ’s hawkish remarks and risk appetite have been spporting the pair. The pair looks ready to make another test of the trend line around the .8200 major psychological support l...

USD The Greenback still gave up some ground to the major currencies during yesterday’s trading, as news of Summers’ withdrawal from the Fed head race led to more dollar-selling.  This is because Yellen is seen as a dove and is likely to keep the...

GBP/USD is still on its current uptrend, based on the rising channel on the pair’s 1-hour time frame.  The pair just came off a dip and bounced from the 1.5600 area to the 1.5900 mark last week and appears ready to make another test of support. T...

USD The US dollar lost ground to most of its major counterparts on Friday’s New York session, as the retail sales report printed weaker than expected results.  The headline figure showed a mere 0.2% uptick instead of the estimated 0.5% increase w...

USD/JPY is currently treading above the 98.80 area, which is right in line with a former resistance turned support zone. Stochastic is moving up from the oversold region, suggesting a potential bounce. Take note that Japanese traders are on holiday today,...