Eurodollar has reached a strong level of resistance at the 1.2625 mark where price has been repulsed several times before. A shooting star candlestick has already formed on the hourly chart and if a move lower evolves...
Expectations of the European Central Bank’s bond-buying plan were boosted by leaked versions of central bank President Mario Draghi’s plan that bond purchasing would be “unlimited.” As markets look forward to today’s ECB meeting, the single currency...
The euro rallied against virtually all of its main currency rivals during European trading yesterday, as details regarding the ECB’s plan to lower borrowing costs in Italy and Spain began to surface.
EUR/USD pair rose during the session on Wednesday as the 1.25 level held as support again. The 1.26 level has been pierced yet again, but is still offered a bit of resistance. With the ECB statement coming...
USD/JPY fell during the session on Wednesday, but bounced yet again in order to form a hammer within our well defined support zone. This hammer suggest that perhaps we will get a little bit of a lift...
The GBP/USD pair rose during the session on Wednesday after initially falling. At the end of the session though, we gave up some of the gains in this pair as well. The 1.59 level still looks very...
The AUD/USD pair fell yet again during the Wednesday session as the downtrend continues. However, it should be noted that the end of the day saw a bounce and we manage to form a hammer for the...
The USD/CAD pair rose during the Wednesday session to break above the 0.99 handle. However, we aren’t above the 0.9950 level which of course would free the buyers to push the price of this currency pair much...
The Dollar Index is currently trading flat at the critical support of 81.00; most of the FX pairs are trading flat since the Asian session with focus shifting to the ECB interest rate decision and its policies.
We may have a head and shoulders pattern completing on the hourly chart at the highs. This could possibly break below the neckline at 1688 triggering a strong move lower, perhaps to around 1675 where it will...
