Market Info

NZD/USD Forming a Channel (December 5, 2013)

NZD/USD has been trending lower in the near term, as seen on the 1-hour and 4-hour time frames. To be specific, a falling channel is starting to form on the 4-hour chart, as the pair is getting ready to test the trend resistance.

Forex Major Currencies Outlook (December 4, 2013)

USD

The US dollar had a tough time in the markets yesterday as there were no top-tier US data to draw support from. The dollar gave up some of its gains to the euro, pound, and yen but managed to end the day stronger against most of the commodity currencies. 

GBP/USD Rising Trend Line (December 4, 2013)

GBP/USD has been making significant breaks above psychological handles recently, confirming that the pair has strong bullish momentum. However, there have been a few pullbacks, eventually creating a short-term rising trend line on its 1-hour time frame.

Forex Major Currencies Outlook (December 3, 2013)

USD

The dollar refused to back down against the pound and the euro in yesterday’s trading, although it lost some ground to the comdolls as risk appetite bounced back in the Asian trading session. 

EUR/USD Channel Support (December 3, 2013)

EUR/USD is still in its uptrend for now, although the pair was pushed down to test the channel support on the ascending trend line on the 1-hour time frame. A bounce from this area could take the pair to its previous highs around 1.3600 or perhaps to new highs around 1.3650.

Forex Major Currencies Outlook (December 2, 2013)

USD

The dollar pairs were relatively quiet on Black Friday as there was a lack of liquidity in the forex market back then. 

AUD/USD Major Pullback (December 2, 2013)

After breaking below the neckline of the head and shoulders pattern on the 4-hour time frame, AUD/USD looks ready to make a quick pullback before resuming its selloff. 

Forex Major Currencies Outlook (November 29, 2013)

USD

The US dollar had a mixed performance, as it gained against the yen and comdolls but lost ground to the pound. There were no reports released from the US yesterday since banks were on Thanksgiving holiday and there are also no major reports lined up for this Black Friday, leaving the dollar at the mercy of risk sentiment.

GBP/USD Long-Term Rally (November 29, 2013)

After months of consolidation inside a 300-pip range, GBP/USD finally made an upside breakout as it reached the 1.6350 minor psychological level recently. This could mean that more gains are in the cards, as the next resistance level is located around 1.6700.

Forex Major Currencies Outlook (November 28, 2013)

USD

The US dollar gave up some gains on weak US data, as the durable goods orders figures were below expectations while the Chicago PMI printed a drop.