USDCAD previously broke below its ascending channel formation then pulled up for a retest, creating a head and shoulders pattern visible on the 4-hour time frame. Price has yet to complete the right shoulder and test the neckline around the 1.2450 minor...

USD   The US dollar got a bit of reprieve when it was reported that Trump was impressed by his meeting with John Taylor, another potential candidate for Fed Chairmanship. He is also reportedly scheduled to meet with Yellen on Thursday. Data surprised...

EURUSD is in the process of forming a head and shoulders pattern on its daily time frame as it completes the right shoulder. The neckline is located at 1.1700 and a break below this support could send price down by around 400 pips or the same height...

USD The US dollar took a huge hit on Friday when economic data came in mostly weaker than expected.  Headline inflation came in at 0.5% versus 0.6% while the core reading stood at 0.1% versus 0.2%. Retail sales data turned out mixed, with the headline...

NZDUSD previously broke below a head and shoulders reversal pattern neckline, indicating that a downtrend is in the cards.  The chart pattern is approximately 350 pips tall so the resulting selloff could be of the same size. However, price is still...

USD   The US dollar was barely able to establish a clear direction even as data was mostly stronger than expected. Headline PPI posted a 0.4% uptick while core PPI also showed a 0.4% gain, twice as much as the estimated 0..2% uptick. Initial jobless...

EURJPY previously broke past the resistance at the 132.50 to 133.00 levels then zoomed up to a high of 133.46. Price has since pulled back to the broken resistance and the Fib tool on the latest swing low and high on the 1-hour time frame shows that...

USD   The US dollar dipped against most of its counterparts when the FOMC minutes were released as it revealed that some policymakers had some doubts about tightening in December. In particular, the minutes indicated that many members were worried...

AUDUSD recently fell through support at the .7800 level then dipped to .7750 before pulling back up. Applying the Fibonacci retracement tool on the latest swing high and low on the 4-hour time frame shows that the 23.6% level lines up with the broken...

USD   The US dollar gave back some of its recent wins when the Trump administration's tax reform plans encountered roadblocks. Geopolitical risks from North Korea also returned to the spotlight as South Korea flew military planes as a show of force...