After the sudden crash of the yellow metal, which occurred on Monday, the bullions price was recovering on Tuesday.
Strong upside momentum guided USD/JPY for the whole trading session on Monday prior to reversing to the downside early on Tuesday.
On Monday, the expected upside potential up to the 1.2770 mark was halted by the monthly S1 at 1.2758 which intersected with the upper channel line.
As it was expected the common European currency found support against the US Dollar, and the currency exchange rate continues on its set part higher.
The early morning of this trading day confirmed that the NZD/USD moves in a narrow ascending channel.
Contrary to prognoses, the USD/CAD did not manage to reach the monthly R1 1.3347.
The AUD/USD made a number of unsuccessful attempts to break through the combined resistance level formed by the 200-hour SMA together with the weekly PP at 0.7578.
The EUR/JPY had finally chosen a path for future direction. In line with expectations, the rate made a breakout in the upward direction and successfully crossed the upper trend-line of a descending channel.
The yellow metal lost ground on Monday morning. However, the commodity price remained in
On Friday, a lack of strong market movers put USD/JPY in a small trading range in the 111.20/40 area. The pair was stopped several times by the 20– and 55-hour SMAs
Despite being tied down by bearish technical indicators, GBP/USD managed to push through a descending trend-line and the 200-hour SMA.
As the title states, the common European currency is trading in a set range against the US Dollar on Monday morning.
In line with bullish technical indicators, the pair continued the surge and successfully broke through the upper trend line of a symmetrical triangle.
Two fundamental events have notably shaken the USD/CAD during the last two days.
Contrary to expectations, the AUD/USD did not continue the fall, but found a support near the 0.7540 mark.
For two days in a row the EUR/JPY has been fluctuating around the upper-trend line of a descending channel.
The yellow metal has revealed a short term ascending channel pattern.
Positions Today Yesterday % Change Longs 52% 50% 3.85% Shorts 48% 50% -4.17% Indicator 4H 1D 1W MACD
During the last trading session, the Sterling demonstrated solid appreciation against the US Dollar, crossing the 20– and 100-hour SMAS along the way.
The EUR/USD currency exchange rate did not bounce off the resistance of the 200-hour SMA, as it was forecasted on Thursday. However,
The most prominent action in the previous trading day was the Kiwi's massive hourly surge in the wake of fundamentals late Wednesday.
USD/CAD managed to retain its upward momentum on Wednesday despite being hindered for several trading hours by the 200-hour SMA
This trading session was marked by the Greenback's breakout to the downside through the monthly S1 at 0.7552.
For the last 24 hours, the pair has unsuccessfully tried to leave the formation three times.