EURGBP has been trending lower on the daily time frame and is currently testing the resistance of its descending channel. If this keeps gains in check, price could head back down to support at the .8300 major psychological level. The 100 SMA is below...
USD The US dollar gained some support from mostly stronger than expected economic reports. In particular, its Q1 GDP reading was upgraded from 0.7% to 1.2% versus the 0.9% consensus, signaling that the "slowdown" in the period wasn't all that...
USDCAD has pulled back from its rally to the 1.3785 area to test the Fibonacci retracement levels visible on its daily chart. This lines up with a former resistance level at the 1.3400 area that might now hold as support. The 100 SMA is still above the...
USD The US dollar barely established a clear direction in recent trading sessions as medium-tier reports were mixed. Initial jobless claims landed at 234K from 233K, still lower than the 238K consensus. Preliminary wholesale inventories slid 0.3% instead...
GBPAUD failed in its last two attempts to break below support around 1.7275, creating a double bottom pattern with the neckline at 1.7415. Price has yet to break past the neckline before confirming this reversal formation but if that happens, the pair...
USD The US dollar gave up ground after the May FOMC meeting minutes didn't seem as hawkish as expected. Although majority of members confirmed that a rate hike is appropriate soon, they also cited that it would be prudent to wait for more data to see...
EURAUD is still moving safely inside its short-term ascending channel and has recently pulled back to support again. Applying the Fib tool on the latest swing low and high shows that the channel bottom lines up with the 50% Fibonacci retracement level...
USD The US dollar regained some ground in recent trading as market watchers are shifting their focus back to economic data and June rate hike expectations. FOMC member Kashkari indicated that he's still on the fence, citing that jobs growth has been...
NZDJPY recently broke below a short-term rising trend line support and dipped close to the 76.00 mark. Price pulled up from there and looks ready to retest the broken support. Applying the Fib tool on the latest swing high and low on the 1-hour chart...
USD The US dollar moved slightly lower against most of its peers, particularly the Kiwi. There have been no major reports out of the US while the FOMC speeches gave little assurance that a June hike is on the table. US flash manufacturing and services...
