After reaching the upper boundary of a two-month channel down and its weekly high at 1,310.00 mid-Friday, the yellow metal began depreciating against the US Dollar as a result of which it was trading at the 100-hour SMA early this morning.
The US Dollar was trading sideways against the Japanese Yen on Friday.
The 55-hour SMA continued to provide downward pressure for GBP/USD as a result of which the Pound fell down to a fresh six-month low at 1.33 late on Friday.
The 55-hour SMA was the main driving force for EUR/USD on Friday, thus allowing bears to continue dominating in the market.
The previously drawn junior pattern guided the surge of the NZD/USD only for a short time. The rate passed the support of the junior ascending channel after making a second attempt.
The US Dollar managed to pass the recently discovered dominant patterns resistance line against the Canadian currency. However,
The previously described scenario on Thursday had became reality on the AUD/USD. Namely, the currency exchange rate had managed to pass the various resistance levels that surrounded the 0.7570 mark.
The common European currency on Friday remained against the Japanese Yen near the lower trend line of the dominant channel down pattern. However, it had made one failed attempt to pass the support.
As previously expected, the 200-hour SMA and the upper boundary of the short-term wedge surrendered mid-Thursday, driven by strong two-hour surge until the 1,305.00 mark.
The US Dollar continues to trade in a descending channel against the Japanese Yen for the third consecutive session.
During the first part of Thursday's trading session, the Sterling managed to maintain its upward movement which started mid-Wednesday.
Following two days of decline which started on Tuesday, the Euro tried to regain some of the lost positions yesterday.
The previous assumptions about the NZD/USD pair were false, as the rate surged in the second half of Wednesday only to be squeezed in between various hourly simple moving averages.
The US Dollar, as expected on Wednesday, managed to gain more ground against the Canadian currency. However, the surge was stopped eventually near mid-day by the monthly pivot point at 1.2917.
In the aftermath of the previously described finding of support in the medium pattern's lower trend line, the Australian Dollar has surged against the Greenback. However, on Thursday
By the middle of Thursday's trading session the EUR/JPY currency exchange rate had respected the lower trend line of the large scale channel, which was drawn by Dukascopy analysts on Wednesday.
Gold remained steady against the US Dollar for the second consecutive session on Wednesday.
Any technical signals about USD/JPY's possible direction on Wednesday were shuttered by a 1.17% plunge during the morning hours.
The first part of Wednesday's trading session for GBP/USD was spent under the bearish pressure.
The pair failing to accelerate mid-Tuesday following a bullish breakout from the 55– and 100-hour SMAs was an early indication of a soon weakening of EUR/USD.
The New Zealand Dollar began to decline on Tuesday against the US Dollar. However, initially there seemed to be no reason for the decline. Due to that reason a larger review was conducted.
During the last 24 hours up to the review of the USD/CAD pair, the currency exchange rate had erased all of the decline, which had occurred since the middle of May 18th trading session.
On Wednesday, following the sudden short term surge of the Australian Dollar against the US Dollar during the first half of the day's trading session, a larger look was taken at the pair.
The common European currency has plummeted against the Japanese Yen. That can be deducted by an initial look. However, it is the other way around. The Japanese Yen has skyrocketed on Wednesday due to a massive change in monetary policy.