EURUSD has reached the main resistance level
The EURUSD pair reached a two-year resistance level (D) in early January and since then we have seen the exchange rate decline, reaching a new low (B) a week ago.
NZDUSD forms a head and shoulders formation
In the last year, we have seen a steady rise in the NZDUSD forex pair. The exchange rate has seen more than 33% growth since March last year.
USD/JPY consolidates after sharp sell-off
USD/JPY is consolidating at 104.30 / 104.70 after yesterday's sharp sell-off. The currency pair has been trading in a downtrend for several months. The two descending trend lines and the 50-period moving average provide strong resistance and seem impenetrable at the moment.