EURNZD has been trending higher on its 4-hour time frame and is testing the ascending trend line connecting the lows since late July. This support level lines up with the 38.2% Fibonacci retracement level and if it holds as support, price could bounce...
USD US banks were closed on Labor Day Monday so markets were off to a slow start. The US currency did stay supported even with rising tensions with North Korea as the White House issued a statement reiterating that the government has plenty of...
EURCAD could be in for a selloff as the pair formed a double top classic reversal pattern and broke below the neckline at the 1.4750 minor psychological level. Price is pulling up to this broken support level, which might now hold as resistance. ...
USD The dollar dipped upon seeing downbeat NFP data as this could hurt the chances of seeing a Fed rate hike this month. The economy added 156K jobs in August versus the estimated 180K gain, bringing the unemployment rate up from 4.3% to 4.4%. However,...
EURJPY recently broke past the 130.00 major psychological level and zoomed to a high of 131.60 before going for a correction. Applying the Fibonacci retracement tool shows that the 38.2% level lines up with the area of interest, adding to its strength...
USD The US dollar rallied when Treasury Secretary Mnuchin reiterated that they have a detailed plan for tax reform set to be implemented before the end of the year. He also suggested that the debt ceiling deadline be moved forward to unlock funds...
GBPNZD has been trending higher and moving inside an ascending channel visible on its 4-hour chart. Price is currently testing the channel resistance around the 1.8000 major psychological handle and could be due for a dip to support near 1.7600. Stochastic...
USD The dollar got a strong boost from a flurry of upbeat reports and talks of tax reform from Trump. The preliminary GDP report saw an upgrade to 3% versus the projected revision from 2.6% to 2.7% while the ADP non-farm employment change reading...
USDCAD seems to be done with its selloff as price is forming a double bottom pattern on its 4-hour time frame. This classic reversal signal could be confirmed once price breaks past the neckline resistance at the 1.2800 level. The chart pattern...
USD The US dollar lost ground upon hearing news of North Korea's missile launch, worrying that a nuclear strike on Guam isn't far off. However, fears soon faded and equities rebounded, allowing the currency to recover as well. It also helped that...
