GBP/USD has sold off in the past few trading days, signaling that a longer-term downtrend is starting to unfold. Before that happens though, GBP/USD could still pull back to an area of interest seen on the 1-hour time frame.
USD
Dollar pair movement was mostly calm at the start of trading on Monday, as there were hardly any major catalysts save for the US durable goods orders data.
The ascending channel on EUR/USD’s 4-hour time frame is still pretty solid for now, as the pair just bounced off the bottom recently and is trading around the middle.
USD
It’s the last day of the trading week and, with the recent price swings, it could be time for most traders to book profits at the end of the week and avoid potential weekend gaps.
Despite the rise in oil prices, the Loonie is having trouble pushing past the rising trend line on its daily time frame.
USD
As expected, the release of the FOMC meeting minutes did cause some waves among dollar pairs but the contents of the report didn’t contain a lot of surprises.
GBP/JPY’s longer-term range is still holding for now, as the pair is having trouble breaking past resistance right below the 154.00 major psychological level. Stochastic has shown a bearish divergence, hinting at a move down south.
USD
Today is a big day for the U.S. dollar as the FOMC meeting minutes are up for release.
NZD/USD is still moving sideways lately, as resistance at the top of the range or at the .8100 major psychological level still held this week.
USD
The US dollar was off to a strong start in this Asian session, as traders booked profits off key resistance and support levels on the medium-term time frames.