GBPJPY has been trending higher on its short-term time frames, moving inside an ascending channel on its 1-hour chart. Price just bounced off resistance and could be due to test support at the 149.00 major psychological level. This potential floor lines...
USD The US dollar rallied then reversed to start the week as equities ended the day in the red on weaker tech and industrials performance. There were no reports out of the US economy on Monday as traders kept their focus on Trump's next Fed Chairperson...
GBPAUD has been trending lower, moving inside a descending channel on its 4-hour chart. Price is currently testing the resistance at 1.6900, still deciding whether to make a bounce or a break. A bounce could take it back down to the bottom of the channel...
USD The US dollar was mostly stronger at the end of the previous week as medium-tier data came in better than expected. Existing home sales rose from 5.35 million to 5.39 million instead of falling to 5.30 million. The federal budget balance also...
Yen bears came out in full force after the elections in Japan over the weekend, causing USD/JPY to break past the descending triangle resistance. This chart pattern is approximately a thousand pips tall so the resulting uptrend could last by the...
USD The US dollar held steady for the most part of the day as traders waited to find out how Trump's meeting with Yellen went. Reports still indicated that the President is leaning towards appointing Powell, who is considered a dovish option....
GBPAUD recently dropped below the descending triangle support at 1.6800, signaling that further losses are in the cards. Price bounced off the 1.6700 area and might be due for a correction to the broken support. Applying the Fibonacci retracement...
USD The US dollar was able to brush off downbeat housing market data as traders were already aware that these were skewed by the recent hurricanes. Also Fedspeak was more hawkish than usual, with members Kaplan and Dudley acknowledging the tightness...
EURAUD recently broke out of its symmetrical triangle formation on the daily time frame to indicate that bullish momentum is getting stronger. Price reached a high of 1.5246 before turning back down for a retest of the broken triangle resistance. ...
USD The US dollar managed to stay afloat thanks to mostly upbeat medium-tier data and positive Fed rhetoric. FOMC member Harker highlighted the tight labor market while Kaplan wrote about waiting to see if 2% inflation is achieved in the medium...
