The U.S dollar gained ground Wednesday against the EUR and the British pound, after strong data on orders for new U.S.-made durable goods and new home sales comforted expectations of an improvement in the economy. The greenback...
Later afternoon trading saw the price of Crude Oil take a nose dive as traders took profit. The price of Oil stalled at the $75 resistance level and fell significantly following the failed breach. Today traders will...
Today’s U.S. Consumer Confidence data release is set to dominate the trading between the Dollar and its major currency pairs. A number of other factors are also likely to impact the forex market today, such as the...
Last week marked a sharp drop in the Dollar’s value, especially against the EUR and the CHF. The biggest question for this week is whether the Dollar will continue to see bearish trends against the major currencies,...
USDCAD formed a cycle bottom at 1.0632 level on daily chart and is now in uptrend. The fall from 1.1124 is treated as consolidation of uptrend. As long as 1.0632 support holds, we’d expect uptrend to resume...
USDCHF breaks below 1.0562 previous low and reaches as low as 1.0553 level. Deeper decline is still possible next week and target would be at 1.0450 zone. However the price action from 1.0590 is more likely consolidation...
USDJPY has formed a cycle top at 97.78 level on daily chart and the fall from 97.78 is treated as resumption of downtrend from 101.43. Deeper decline to test 91.73 is expected in a couple of weeks,...
AUDUSD might be forming a cycle top at 0.8477 level on daily chart. Key support is now at 0.8155, a break below this level will confirm the cycle top and indicate that the uptrend from 0.7703 has...
GBPUSD has formed a cycle top at 1.7042 level on daily chart. Further decline to 1.5900-1.6000 area is expected in a couple of weeks, and a break down below 1.6275 will confirm such case. Near term resistance...
EURUSD stays in the rising price channel on daily chart and remains in uptrend from 1.3748. Further rally to 1.4500 is still possible next week. However, the rise from 1.3748 is more likely a part of consolidation...
