EURUSD has been trending higher after breaking past a long-term resistance level last week. Price is trading inside an ascending channel visible on its 1-hour time frame and is currently bouncing off the resistance. This could spur a correction...
USD The US dollar remains in a weak spot leading up to this week's FOMC statement. No actual rate changes are expected but traders are expecting a less upbeat outlook and some more details on when the balance sheet runoff might start. There were...
USDCAD keeps trending lower and is moving inside a descending channel pattern on its 1-hour time frame. Price is currently testing support near the 1.2550 minor psychological level and could be due for a bounce back to the resistance near 1.2600. ...
USD The dollar is still being bogged down by issues surrounding the Trump administration, from the failure to pass the Obamacare repeal in Senate to the ongoing investigation into Trump's dealings with Russia. Lead investigator Mueller said that...
EURAUD is trending lower and moving inside a descending channel connecting the highs and lows of price action since the latter part of May. Price is bouncing off the channel support and could be due for a pullback to resistance. Stochastic is moving...
USD The US dollar had a mixed run as it mostly functioned as a counter currency. Data was stronger than expected, with building permits up from 1.17M to 1.25M and housing starts up from 1.12M to 1.22M. Initial jobless claims and the Philly manufacturing...
GBPUSD has formed higher lows and slightly higher highs, creating a rising wedge pattern visible on its daily chart. Price is currently testing the resistance and might be due for a move back to support soon. Stochastic looks ready to head south from...
USD The dollar was dragged lower by the healthcare bill setback in Senate. As it turns out, at least three Republicans are set to vote against the bill, along with Democrat lawmakers. This reminded market watchers of the lack of progress in terms...
GBPJPY has failed in its last two attempts to break past the 147.50 minor psychological resistance, creating a double top reversal formation. Price is currently testing the neckline at 145.50 and could be due for at least 200 pips in losses if its breaks. ...
USD The dollar managed to edge slightly higher even though data came in weaker than expected. The Empire State manufacturing index fell from 19.8 to 9.8 to indicate a slower pace of industry growth compared to the projected dip to 15.2. Only the...
