The GBPUSD pair rallied on Monday, as the US dollar softened a bit overall.The 1.27 level above could be resistive yet again, but I think the real massive “ceiling” in this market is closer to the 1.2850 level above.
The AUDUSD pair rallied on Monday, testing the 0.75 level above as resistance.
The EURUSD pair fell slightly but then turned back around to form a hammer.
The AUDUSD pair fell slightly during the session on Friday, but found enough support near the 0.74 level to bounce and test the 0.7450 level again. We found resistance there, as we have in the past, so now it looks very choppy to say the least.
USDJPY is trending higher on its 1-hour chart, moving above an ascending trend line connecting the latest lows of price action. Price is currently testing this support area, which lines up with the 61.8% Fibonacci retracement level and the 100 SMA dynamic inflection point.
USDCAD seems to be tired from its climb, as a double top pattern formed on its 1-hour time frame. Price is still testing the neckline at the 1.3400 major psychological level before conrfirming this reversal signal.
The Australian dollar rally during the day on Monday, as we continue to see a bit of a bounce later in the session.
The EURUSD pair fell significantly during the day on Monday as we got word that the FBI was not going to indict Hillary Clinton due to emails.
The AUDUSD pair initially fell on Monday but then found buyers to push the market higher.
EURUSD broke below the upward price channel on 4-hour chart, indicating that consolidation of the uptrend is underway.
