A classic reversal chart pattern has formed on GBP/JPY’s 1-hour time frame, indicating that the recent selloff is almost over. However, the pair has yet to make a break above the neckline of the formation before a rally is confirmed.
USD
The US dollar slid a bit lower to its major currency rivals in recent trading, as risk appetite somewhat improved.
Thanks to strong New Zealand jobs figures, NZD/USD made a stellar rally in the past trading session and climbed back above the .8200 handle. However, the pair might be encountering resistance right at that area, which has acted as a support level in the past.
USD
The US dollar gave up a lot of ground to its major currency counterparts in yesterday’s New York trading session, when the ISM manufacturing PMI came up short of expectations.
USD/JPY recently broke below the 102.00 major psychological support level and dipped below the 101.00 mark this week. However, with stochastic reaching the oversold region and crossing upwards, dollar bulls may be back in action for the near term.
USD
The US dollar had a mixed performance on Friday, as it gained ground against some currencies but lost against the rest. Data from the US came in mostly in line with expectations, as Chicago PMI climbed from 59.1 to 59.6 while the revised UoM consumer sentiment figure stood at 81.2.
The bottom of USD/CHF’s channel held last week, as risk aversion was still present in the trading markets. The pair is currently moving towards the middle of the channel, which might act as medium-term resistance.
USD
The US dollar lost some ground against some of its major counterparts in recent trading, as data from the US economy turned out weaker than expected.
GBP/USD is still on an uptrend on the 4-hour time frame, as can be seen on the rising channel on the chart. The pair is selling off but might be ready to find support at the bottom of the channel.
USD
The US dollar regained ground after the FOMC decided to proceed with its cautious taper and reduce monthly bond purchases by $10 billion, as announced in their December monetary policy statement.