The euro’s rallies against the dollar might soon be coming to an end, as reversal candlesticks on the 4-hour time frame are hinting at an exhaustion. At the same time, stochastic has already reached the overbought zone,...
The US unemployment rate dropped to 7.3% down 0.1%. To achieve this improvement, a record 516K of potential workers had to drop out of the work force in the latest month.
EUR/GBP has sold off strongly in the past few weeks, bringing it down from the .8750 area to the .8400 handle. The 4-hour chart reveals that there’s strong support in this region though.
USDCAD breaks below 1.0450 support, suggesting that the upward movement from 1.0245 had completed at 1.0568 already. Further decline could be expected, and next target would be at 1.0200 area.
USDCHF broke above 0.9400 resistance and reached as high as 0.9455. However, the rise is likely correction of the downtrend from 0.9751, one more fall towards 0.8500 is still possible after correction.
USDJPY is forming a sideways movement in a range between 93.79 and 103.73. The sideways movement is likely consolidation of the uptrend from 75.57 (Oct 31, 2011 low).
AUDUSD failed to break below 0.8847 support and stayed in a trading range between 0.8847 and 0.9344. As long as 0.9344 key resistance holds, the price action in the range could be treated as consolidation of the...
GBPUSD stays above a upward trend line on daily chart, and remains in uptrend from 1.4813, the fall from 1.5717 could be treated as consolidation of the uptrend. As long as the trend line support holds, the...
EURUSD’s fall from 1.3451 extends to as low as 1.3105. Further decline is still possible, and next target would be at 1.3000 area. However, the fall is likely correction of the uptrend from 1.2756, another rise towards...
The USD/JPY pair fell hard during the session on Friday, as the nonfarm payroll number came out lighter than expected. However, the 99 handle did offer support, and we believe that the real action will be had...
