The uptrend of CAD/JPY still seems to be intact as the pair is testing the bottom of the ascending channel on the 4-hour time frame. This area is also around the 96.00 major psychological support. Stochastic has just moved out of the oversold region...
USD The U.S. dollar suffered a sharp selloff in yesterday’s trading when the ISM manufacturing PMI came in worse than expected. The actual figure showed a contractionary reading of 49.0, worse than the estimated decline from 50.7 to 50.6. Only t...
USD/JPY kept selling off in the past few trading days as the Nikkei stock index posted sharp declines. This was enough to push USD/JPY back down from the 103.75 area to 99.50. This level coincides with a former resistance level, right after the BOJ implemented...
USD There are a lot of red flags on the U.S. calendar this week, which could determine if markets are really shifting their stance on the U.S. dollar or just making huge corrections before trends resume. Take note though that it’s already the s...
USD/CAD is one of the best currency pairs to trade in a ranging market environment. The pair is currently moving sideways on its 1-hour time frame, as it found support around 1.0300 and resistance near 1.0400. The pair gapped up over the weekend,...
USD The US dollar continued to slide against its major counterparts in yesterday’s trading sessions as markets seemed to show exhaustion from its recent rallies. Fed official Rosengren’s speech was probably the highlight of the New York session yes...
On its 4-hour time frame, USD/CHF seems to have formed a head and shoulders pattern, indicating a potential reversal from the pair’s rallies earlier this year. The Swiss GDP is set for release and the economy is expected to have grown by 0.2% for the f...
USD The U.S. dollar was supported by stronger than expected consumer confidence data in yesterday’s New York session. The CB consumer sentiment figure came in higher than the estimate as it jumped from an upwardly revised 69.0 to 76.2, beating the c...
USD/CAD’s uptrend is still very strong as the rising channel on its shorter-term time frame is still holding. The pair recently found support at the bottom, which is near 1.0350, and bounced right back up when the U.S. printed strong consumer confidence d...
USD U.S. traders are back in the grind today, after taking a day off in honor of Memorial Day. The U.S. will be printing its CB consumer confidence report for May and possibly show a strong rise in optimism. The reading is slated to increase from...
