USD: Neutral
There are no major economic releases from the United States, which suggests that dollar pairs could move to currency-specific events.
USD/JPY’s rally seems to be losing steam as the pair can’t seem to make a break above the 97.00 major psychological resistance
USD: Neutral
Dollar pairs are stuck in consolidation so far as EUR/USD keeps testing the 1.2950 minor psychological resistance while GBP/USD is still moving sideways around the 1.5100 area.
The falling trend line on USD/CAD’s 1-hour time frame is holding for now but the pair is consolidating into what appears to be a symmetrical triangle.
USD: Neutral
Most dollar pairs could be in for a lot of tight consolidation during today’s trading sessions as traders sit on their hands prior to the FOMC monetary policy statement.
After Cypriot officials and the Troika unveiled a bailout proposal to save Cyprus’ troubled banks, the parliament rejected the plan since it involved a one-time tax levy on deposits.
USD: Bullish
Weekend gaps on most dollar pairs seem to have been filled at the moment, except for the large one on EUR/USD.
After its strong rally towards the end of last week, GBP/USD consolidated tightly in a pennant formation during yesterday’s trading.
USD: Bearish
Several weekend gaps were made after the short squeeze took place last week as most major currency pairs opened right where they were prior to the profit-taking on Thursday and Friday.
EUR/USD made a huge gap down from the 1.3100 area to below 1.3000 over the weekend.