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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.
USD
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.
USD
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.
USD
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.
USD
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.
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2023 Martin Luther King Holiday Schedule
Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....
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