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AUD/JPY Range Trade (November 28, 2013)

AUD/JPY has just tested and bounced off the bottom of the range visible on the 1-hour and 4-hour time frames. It has shown enough momentum, perhaps enough to push it back to the top of the range around 94.20.

Forex Major Currencies Outlook (November 27, 2013)

USD

The US dollar gave up more gains yesterday when the US CB consumer confidence report printed weaker than expected results. The figure dipped from 72.4 to 70.4 instead of landing at the estimated 72.2 reading. 

Symmetrical Triangle on CAD/JPY (November 27, 2013)

CAD/JPY has staged such a strong rally recently yet it seems to be reaching an exhaustion at the moment. In fact, a bearish divergence can be seen with price making higher highs and stochastic making lower highs this month.

Forex Major Currencies Outlook (November 26, 2013)

USD

The US dollar gave up some of its recent gains to its major rivals when pending home sales came in weaker than expected. The report printed a 0.6% decline for October even when analysts were projecting a 2.2% rebound from the previous 4.6% decline. 

AUD/USD Neckline Pullback? (November 26, 2013)

Just last week, AUD/USD broke below the neckline of the head and shoulders pattern on the 4-hour time frame, indicating that a long-term downtrend might be in the cards. However, the pair looks prime for a retracement as sellers gather more energy.

Forex Major Currencies Outlook (November 25, 2013)

USD

The US dollar gave up some of its recent gains to its major counterparts on Friday when traders booked profits ahead of the weekend. Against the yen though, the dollar continued its ascent as USD/JPY is now approaching the 102.00 mark. 

NZD/USD Support-turned-resistance at .8200 (November 25, 2013)

NZD/USD just broke below the key support level at .8200 last week but it appears that price needs to retrace before heading any lower. On the 1-hour time frame, the 38.2% Fibonacci retracement level is close to the broken support, which might then act as resistance.

Forex Major Currencies Outlook (November 22, 2013)

USD

The US dollar had a mixed performance against its major counterparts, as currency-specific events dominated price action. In particular, remarks from central bank officials were a stronger driver of price action compared to US data and risk sentiment. 

EUR/USD Trend Line Retest (November 22, 2013)

EUR/USD finally broke below that tight consolidation on top of a rising trend line, but it appears that a pullback could be in the cards. The pair bounced off the 1.3400 major psychological level and appears ready to retrace to the Fibs on the 1-hour time frame.

Forex Major Currencies Outlook (November 21, 2013)

USD

The US dollar was able to get back on its feet in yesterday’s trading, as the US retail sales report printed better than expected results. Headline retail sales was up by 0.4% while core retail sales edged up by 0.2%.