Being contained by the price channel resistance, USDCAD pulled back from 1.0326, and the fall from 1.0326 could possibly be resumption of the down trend. Deeper decline to test 0.9709 previous low support is still in favor...
USDCHF breaks above this price channel resistance and up trend resumes. Further rally to 1.0600 area to reach the next cycle top on daily chart is expected in the next several days. Key support is at 0.9870,...
USDJPY breaks above 104.64 and up trend resumes. Further rally to 107.00 area is possible next week. Initial support is at 102.67, as long as this level holds, up trend will continue. Key support is at 100.02,...
AUDUSD broke above 0.9496 previous high and pulled back from 0.9541. Further fall to test 0.8953 previous low support is still possible, and a break of 0.9205 level will confirm such case. Key resistance is at 0.9541,...
GBPUSD traded in a range between 1.9599 and 2.0193 for several weeks and is in consolidation to the down trend. As long as 2.0193 resistance holds, we’d expect down trend to resume and deeper decline to test...
EURUSD formed a cycle top at 1.6019 and dropped sharply to as low as 1.5554. Deeper decline is possible to retest 1.5342 long term key support after consolidation, a break of this level will signal the reversal...
Overnight Asia/Europe • USD mixed• EURO under pressure, IFO disappoints• Volumes light Today’s Economic Reports • 7:30 AM CDT Durable Goods forecast +0.1%• 7:30 AM CDT Initial Claims• 9:00 AM CDT New Home Sales forecast 495K
Yesterday, the Greenback spent most of the trading day with bullish momentum against the majority of its currency pairs and crosses. The USD gained almost 0.9% and closed trading around 1.5850 vs. the EUR after it previously...
In the 1930s, Ralph Nelson Elliott, a corporate accountant by profession, studied price movements in the financial markets and observed that certain patterns repeat themselves. He offered proof of his discovery by making astonishingly accurate stock...
The U.S. economy is facing fresh difficulties that will probably further dampen the national currency. Yesterday, the greenback tumbled to fresh lows trading as low as 1.6022 vs. the EUR after the European Central Bank policy makers...
