AUDUSD has recently been on a short-term climb, but it looks like the rally could be reversed now that a head and shoulders pattern formed on its 1-hour forex time frame.
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The US dollar regained ground in recent trading, despite weaker than expected reports from the economy.
EURGBP has been falling for the past few months but a reversal pattern has just formed on its daily chart.
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Profit-taking and risk appetite combined forces to weigh on the US dollar last Friday, even as the economy posted stronger than expected reports.
GBPUSD looks prime for a pullback as price found support around the 1.5600 major psychological level.
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The US dollar was able to squeeze out small gains to its forex counterparts, extending its rally to the yen and the pound.
EURUSD has been moving inside a symmetrical triangle pattern since the start of the month, creating higher lows and lower highs.
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The US dollar had a mixed performance as it gained ground to the European currencies and the yen while giving up gains to the commodity currencies.
USDJPY has been moving in a strong uptrend, with a short-term rising channel forming on its 1-hour time frame.
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The US dollar gave back some of its recent gains to its forex counterparts as US traders were off on a Veterans Day holiday yesterday.