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Forex Major Currencies Outlook (May 9, 2013)

USD

The Greenback weakened against most of its major currency counterparts in yesterday’s trading as risk appetite generally improved. 

NZD/USD: Break and Retest Scenario (May 9, 2013)

NZD/USD just broke below the .8500 major psychological support level recently, mostly because of the downturn in risk appetite. 

Forex Major Currencies Outlook (May 8, 2013)

USD

The U.S. dollar’s rally gained legs against most of the other major currencies in yesterday’s trading when some economies once again showed signs of weakness. 

EUR/USD Descending Triangle (May 8, 2013)

EUR/USD is slowly edging closer and closer to the 1.3000 major psychological support again as the pair has formed lower highs on its 1-hour chart. In fact, it has created a descending triangle pattern on the same time frame.

Forex Major Currencies Outlook (May 7, 2013)

USD

The U.S. dollar bounced back on its feet in yesterday’s trading when risk aversion popped its head back in the markets. 

AUD/USD: RBA Interest Rate Cut Setup (May 7, 2013)

The RBA just cut interest rates by 25 basis points from 3.00% to 2.75% earlier in today’s Asian session. This pushed AUD/USD below the support level around 1.0230 to a low of 1.0178 right after the statement.

Forex Major Currencies Outlook (May 6, 2013)

USD

The U.S. dollar initially had a positive reaction to stronger than expected NFP data but was soon weighed down when risk appetite boosted the higher-yielding currencies. 

USD/CAD: Trading the Ivey PMI Release (May 6, 2013)

After last week’s strong selloff, USD/CAD is currently stalling around the 1.0075 resistance turned support level. This is in line with the 50% Fibonacci retracement on the 4-hour time frame.

Forex Major Currencies Outlook (April 30, 2013)

USD

The U.S. dollar was outpaced by most of its major counterparts in yesterday’s trading when personal income and spending data disappointed. 

GBP/USD Medium-Term Rising Channel (April 30, 2013)

GBP/USD is moving closer to testing the top of the rising channel on the 1-hour time frame, although the pair seems to be retracing at the moment.