Market Info

EURGBP Countertrend Setup (Aug 18, 2014)

EURGBP has been moving inside a rising channel for most of the month, as price made higher lows and higher highs. At the moment, the pair is testing the top of the rising channel, which lines up with the .8000 major psychological barrier.

Forex Major Currencies Outlook (August 15, 2014)

USD

The US dollar had a mixed performance as it advanced to the euro but gave up some of its gains against the comdolls then consolidated to the pound. 

EURUSD Symmetrical Triangle Pattern (August 15, 2014)

EURUSD has been consolidating tightly, as the pair made lower highs and higher lows, forming a symmetrical triangle pattern on its 1-hour time frame. Price is currently testing the bottom of the formation while stochastic is moving out of the oversold zone, indicating that a bounce might take place.

Forex Major Currencies Outlook (August 14, 2014)

USD
The US dollar got back on its feet and was able to advance against its forex counterparts, despite weaker than expected US retail sales. 

Trading the Euro Zone GDP Reports (August 14, 2014)

The euro zone is set to release its GDP readings for the second quarter of the year and is widely expected to show disappointments, possibly a chance to hop in a euro short trade. EUR/JPY is currently testing the falling trend line on its 4-hour time frame and this might hold as resistance for the day.

Forex Major Currencies Outlook (August 13, 2014)

USD

The US dollar returned some of its recent gains when data came in weaker than expected. The JOLTS job openings report marked a 4.67M gain, lower than the estimated 4.74M increase. 

GBPUSD Retracement Play (August 13, 2014)

GBPUSD has been on a downtrend ever since the BOE showed a bit of hesitation when it comes to tightening monetary policy by the end of the year. Price has broken below a support area around the 1.6850 minor psychological level and has traded near the 1.6750 handle.

Forex Major Currencies Outlook (August 12, 2014)

USD

The US dollar regained ground against most of its major forex counterparts as risk appetite remained weak at the start of the trading week. 

USDCAD Reversal Formation (August 12, 2014)

USDCAD has formed a double top chart pattern on its 1-hour time frame, indicating that the uptrend is about to turn. Price has yet to break below the formation’s neckline near the 1.0900 major psychological support before confirming the selloff.

Forex Major Currencies Outlook (August 11, 2014)

USD

The US dollar had a mixed performance towards the end of the trading week, ending lower against the euro but higher against the pound and the yen.