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USD strength has been taking a break. The ailing AUD/USD started the year falling until 0.7626 at the beginning of February. It has since consolidated up to 0.7875. Last week, we saw a failed attempt to continue the downtrend, as AUD/USD held above ...
Bearish Pressure: The Australian Dollar has been under a lot of pressure as it continues to show a weakening economy. The Reserve Bank of Australia (RBA) has already cut its official cash rate to 2.25%, a record low. RBA governor Glenn Stevens has ...
Backdrop: When we look at the 1H AUD/USD chart, we see a market that is consolidating in a narrow range roughly between 0.7745 and 0.7875. Last week’s strong US NFP jobs report held the pair from going above 0.7875, but failed to push it below the ...
Today, the NFP report came in stronger than expected. It showed that 257K jobs were added to the economy in January, surpassing the forecast for a reading around 236K. The December reading was revised up to 329K from 252K. The report said that ...
Bearish Correction: In 2015 so far, USD/JPY has fallen from about 120.75 to 116.00 before finding support and rebounding. Rebound: The 4H chart shows that price has broken above 118, which was in a support/resistance area. This rally also breaks ...
Today, The euro took another beating after the SNB decided it will no longer defend the EUR/CHF floor at 1.20. This removed some support for the euro, and it continued to fall as the ECB is closing in on implement QE. The EUR/USD has been bearish ...
The NZD/USD has been consolidating since making a new low on the year at 0.7608 earlier in December. After a rally, we saw the market reject the rally after it was challenged by a falling trendline coming down from September’s high around 0.7975. ...
In the 4H GBP/USD chart, we can see the pair in a consolidation range since mid-November roughly between 1.5825 and 1.5541. It has been a messy, choppy month of price action within the consolidation, but as we get into the end of this week, the ...
Gold and Silver were both bullish in the first half of this week, but have been trading in consolidation patterns since. Let’s take a look at the 4H and daily charts to assess their technical conditions. The 1H gold chart shows that after stalling ...
Bearish Continuation: The EUR/USD is bearish, and after consolidating for about a month in November, it signaled bearish continuation last week to begin December. This week, price extended lower to a new low on the year at 1.2250 as we can see in ...
Today, as we get into the 11/25 session, the EUR/USD is signaling bearish continuation after the release of US GDP data for Q3. The second estimate of US Q3 GDP was stronger than the first “advance” estimate and beat forecasts that called for a ...
Today’s main fundamental factor for the loonie is the Canadian inflation data for October. The monthly CPI reading for October came in at 0.1%, which is the same as September’s reading, but was much better than the forecast reading around -0.3%. The ...
Declining Sharply in a Falling Channel: Silver price (XAG/USD) has been bearish since the 21.57 high from July. The daily chart shows the market in a falling channel, with no meaningful bullish correction or consolidation that lasted more than a ...
The EUR/GBP has been bearish since mid-August after finding resistance at 0.8036. The 4H chart shows that the market has been consolidating since July, as the moving averages clustered and crossed over. Before this consolidation in July, price was ...