USDCAD continues to trend higher and is moving above an ascending trend line connecting the lows on the 4-hour time frame. Price looks prime for another correction and the 50% level lines up with the trend line support at 1.2700. The 100 SMA is...
USD The dollar was off to a good start but gave up its gains during the latter part of the London session and throughout the US session after FOMC member Dudley confirmed his retirement plans. He is one of the more hawkish members of the Fed so the...
GBPJPY was previously trending higher inside an ascending channel before breaking below support to signal a reversal. Price bounced off the 148.75 level before showing signs of pulling back to the broken support. Applying the Fibonacci retracement...
USD The US dollar dipped upon seeing downbeat NFP results but recovered before the week closed. Employment rose by 261K in October versus the estimated 312K gain, but the earlier figure was upgraded from -33K to +18K. The unemployment rate fell from...
EURAUD is trending higher and is moving inside an ascending channel on its 4-hour time frame. Price has just bounced off support and looks ready for a test of resistance at 1.5400-1.5450. The 100 SMA is above the longer-term 200 SMA so the path of least...
USD The dollar has gotten a boost from news that the House passed a budget resolution to allow the tax bill to clear Senate without achieving a supermajority. US advance GDP data for Q3 is due next and hopes are running high after the durable...
EURUSD broke below the neckline of its long-term head and shoulders pattern, confirming that a downtrend is underway. The chart pattern is approximately 400-500 pips tall so the resulting selloff could last by the same amount. The 100 SMA is still sufficiently...
USD The US dollar was mostly supported by stronger than expected housing data, along with strong contributions from durable goods orders. However, uncertainties surrounding the Trump tax plan and the next Fed head are keeping the dollar's gains in check....
GBPAUD has been on a strong climb recently and may have enough momentum to break past its symmetrical triangle resistance around 1.7200. The chart pattern spans 1.5900 to 1.7700 so the resulting uptrend could be of the same size. The moving averages...
USD The US dollar tossed and turned as the lack of top-tier data left traders extra sensitive to updates from Washington. Fears that the Trump tax plan could lose votes from a couple of GOP Senators displeased with the US President dragged the currency...
