CAD/JPY’s downtrend is still very much intact, as the falling trend line connecting the price’s highs is still holding on the 1-hour time frame.
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The US dollar struggled to hold its ground at the start of the week as the continued government shutdown discouraged traders from taking long dollar positions.
AUD/USD could be in for a decline today as the .9450 minor psychological level has been holding well as resistance so far. A drop could last until the recent support around the .9350 minor psychological level.
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The US dollar recovered some of its recent losses for the previous week on Friday, as risk aversion popped its head in the markets. It also helped that a lot of traders booked profits at the end of the week.
GBP/USD suffered a sharp selloff on Friday but it appears that the longer-term uptrend is still intact, as evidenced by the rising channel on the 4-hour time frame.
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The US dollar had a mixed day as it lost to the euro, franc, and yen but caught some gains against the Aussie, Kiwi, and pound.
A double top pattern has formed on GBP/USD’s short term time frame, which means that a possible reversal from the current uptrend could happen.
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The US dollar gave up its gains to its major counterparts, as the US government shutdown extended for another day.
AUD/JPY is making a reversal pattern on its 1-hour time frame, which means that the current downtrend could be turning.
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The U.S. dollar underwent a sharp selloff yesterday on the announcement of an official government shutdown.