USD: Bullish The U.S. dollar may have lost some ground against most of its major counterparts during yesterday’s trading but this was mostly a result of a rebound in risk and profit-taking at key levels.
NZD/USD is still on a strong downtrend, as seen from the formation of a falling trend line on the 1-hour time frame. The pair has also just broken below the .8300 major psychological support earlier this week,...
The USD/JPY pair fell during most of the session on Wednesday again, but just like the Monday and Tuesday session, there was plenty of support once you got below the 92 handle.
The USD/CAD pair broke down during the session on Wednesday, breaking the bottom of the shooting star that was formed on Tuesday. This move makes sense, as the pair has been far too overbought after the breakout...
The GBP/USD pair had a slightly bullish session on Wednesday as the 1.5050 level offered support yet again. The resulting candle was a hammer, which followed a shooting star from Tuesday.
The EUR/USD pair rose during the session on Wednesday as the bullish momentum picked back up in the Euro. The Italians managed to sell debt at a reasonable rate, so the immediate fear was waylaid in Europe.
The AUD/USD pair fell for the session on Wednesday, breaking down below the 1.02 level. However, you can see that the market bounced a bit, and has formed a hammer for the session.
The Australian dollar is deemed to maintain its incline opposite the Japanese yen today after ratings agency Standard & Poor’s affirmed Australia’s triple-A credit rating, forecasting steady growth. Meanwhile, the Yen is likely to be under pressure...
USD: Bearish Based on the tone of Ben Bernanke’s semi-annual testimony in front of the U.S. Congress yesterday, the Federal Reserve is in no rush to withdraw stimulus.
AUD/USD is approaching long-term support at the 1.0200 major psychological level and a potential bounce could be in the cards. Stochastic has been deep in the oversold region for the past few weeks, suggesting that Aussie bears...
