The GBP/USD broke the senior descending pattern during Tuesday's trading session. However, the resulting surge was stopped by the monthly pivot point at 1.2940, which made the rate to go back into the senior ascending channel.
The NZD/USD exchange rate has been trading in a medium-term ascending channel since mid-August. The New Zealand Dollar bounced off the lower boundary of the ascending channel for the second time on August 23 and had since gained about 87 base points or 1.31% against the US Dollar.
As expected, a resistance level formed by the 200-hour simple moving average hindered the USD/CAD currency pair to move past the upper border of a descending channel. After reaching near the resistance level, the exchange rate made a U-turn south, and as a result, the pair breached both the bottom boundaries of the junior and senior ascending channels.
The Australian Dollar has been moving in a two-week ascending channel against the US Dollar. The rate reversed from a support cluster at 0.7328 mid-session on Monday and began to appreciate. As a result, the price breached the upper boundary of a medium-term descending channel.
Upside risks prevailed in the market on Monday, thus allowing the currency pair to breached the 23.60% Fibonacci retracement level. The rate continued to be pressured by the 50-hour SMA.
Gold prices have reached new high levels during the second half of Monday's trading session. During the surge the rate reached above the 1,210.00 mark.
The US Dollar found support against the Japanese Yen on Tuesday morning. Namely, the lower trend line of a medium term channel up pattern provided the needed support to stop the recent short lived decline.
The Pound has broken the resistance of a medium term descending pattern against the US Dollar. However, the resulting surge was stopped by a dominant descending pattern's resistance line together with the 61.80% Fibonacci retracement level at the 1.29 mark.
The previously observable dominant descending patterns on the EUR/USD chart were removed on Tuesday, as the surging momentum of the rate has managed to break both of them.
Upside momentum dominated the market on Friday, thus allowing the New Zealand Dollar to gained 74 base points against the US Dollar. The surge, however, was due to Fed Chairman Jerome Powell speech.
Downside risks dominated the US Dollar against the Canadian Dollar on Friday, as it fell 0.73% during the end of the trading session. The resulted in the currency pair to breached both the 50–, 100-, and 200-hour SMAs.
A reversal from the lower boundary of a junior ascending channel was followed by 106 pips surge on Friday. The Australian Dollar managed to push through the three SMAs.
The EUR/JPY exchange rate remained stable on Friday, as it was pressured higher by the 55-hour simple moving average and monthly pivot point. The pair reached a three-week high level during the end of the previous session.
The British Pound had slightly recovered itself against the American counterpart during the Friday's session, passing the weekly PP at 1.2839. The GBP/USD pair was still testing the weekly PP on Monday early in the morning.
The US Dollar depreciated against the European Single Currency on Monday morning, as the rate bounced off the senior channel at 1.16. The total downtrend had lost 0.45% since Monday's early morning. During Friday's trading session the currency pair gained 1.00% in total, breaking through the senior channel.
The Japanese Yen has still been depreciating against the US Dollar during the last three days. The main pair passed through the monthly PP( 110.692) and tested the weekly R1 during Thursday's trading session. In general, the US Dollar recovered 0.85% from Wednesday night until Friday morning.
Following no changes to its price level on Wednesday, the Pound began weakening slightly against its American counterpart during the following day.
Given lack of fundamentals, the EUR/USD exchange rate showed no changes to its price level on Thursday.
The New Zealand Dollar spent Wednesday's session trading below the monthly pivot point at 0.6721 against the US Dollar. By the end of the session, the currency pair breached the 55-hour simple moving average and also tested the lower boundary of a junior ascending channel.