Head and shoulders

Last week, we highlighted the bearish head-and-shoulders pattern forming on the US Dollar Index (see “Dollar Index Head-and-Shoulders Pattern in Play After Weak Inflation Data” for more). With the euro making up nearly 60% of the dollar index, it’s not surprising that a similar, inverted head-and-shoulders pattern is forming on EUR/USD, as we’ll see...

<p>EUR/GBP continued its sharp slide on Wednesday morning for the second consecutive day this week as the euro has generally remained in a prolonged slump and sterling has once again taken center stage as the star performer against other major currencies. In the process of this slide, the currency pair hit a new 16-week low under 0.7600 early on Wed...

<p>Wednesday’s hawkish FOMC minutes increased speculation that a June interest rate hike by the Federal Reserve may be more likely than previously anticipated. These higher expectations have helped prompt a boost for the US dollar, a plunge in gold prices, and pressure on US and global stock markets. Additionally, a pullback in crude oil prices on a...