The EURGBP is about to trigger a double top pattern as we test the 88% retracement on the daily chart.
The DXY has developed an ascending wedge as we stall near the 50% retracement of the last move lower.
The AUDJPY spiked past resistance and tagged the 61.8% key Fibonacci retracement and also the channel resistance.
The EURUSD finally broke higher out of the two month consolidation with the pair reaching as high as 1.1550 today.
The USD (DXY) has been range bound for months, and mostly this is a product of many cross currents in the markets. Equity market volatility, weakness of fundamental data globally stating to seep in, the FOMC looking to be at the end of their hike cycle, China and US trade war brewing, and the list […]
The EURJPY has bounced back to the breakdown point near the 125.00 level which is a do or die level for the bulls.