It has been revealed by the Ministry of Finance that the Bank of Japan spent an equivalent of almost 20 billion US Dollars on its September 22 intervention in the Forex markets, which caused the USD/JPY drop from 145.90 down to 140.60. However, by September 26, all Japanese Yen currency rates were close to pre-intervention levels. In general, the USD/JPY is
The surge of the Pound against the US Dollar appears to have occurred in a wide range channel up pattern. Since late Thursday's European trading hours, the currency pair was testing the resistance of the channel. The resistance line is crossing the 1.1200/1.1250 range. In addition, the resistance line was being strengthened by the weekly R1 simple pivot point and
The Euro has received an additional boost, as inflation in Germany has reached a new record high, being revealed to be above 10.00%. The event boosted the Euro, as the markets took in the news as pressure on the European Central Bank to increase monetary tightening. On the technical charts the event occurred as a test and afterwards breaking of the
On Wednesday, the Bank of England announced that it would buy government bonds valued at a total of 65 billion Pounds. The market took in the news as follows - the bailing out of the government will create more inflation and will force the BoE to hike rates even more intensively. As a result a surge of the GBP against
On Wednesday, the Bank of England announced that it would buy government bonds valued at a total of 65 billion Pounds. The market took in the news as follows - the bailing out of the government will create more inflation and will force the BoE to hike rates even more intensively. As a result a surge of the GBP against
The Bank of England suddenly announced on Wednesday that it would buy government bonds for a total amount of 65 billion, despite ongoing monetary tightening. Initially, the rate was highly volatile and declined, as additional 65 billion Pounds would be poured into the economy. However, the central bank afterwards stated that it would still stick to rate hikes. Additional stimulus is
As the EUR/USD was trading between the support zone near 0.9550 and the 0.9600 mark, the Bank of England caused a broad decline of the US Dollar. Namely, the central bank announced that it would reduce its monetary tightening by buying UK government bonds at a total amount of 65 GBP billion. The markets took in the news as the
The decline of the price for gold has reached the 1,615.00 level. The commodity price has been gradually declining from one round price level to another. In general, the situation remains unchanged. Economic Calendar Analysis On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal Reserve Jerome Powell
The USD/JPY currency pair remained below the 144.70/145.00 zone up to the middle of Wednesday's European trading. Meanwhile, the support of the 50-hour SMA had caught up with the rate. In general, previous scenarios remained valid. Economic Calendar On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal
On Wednesday morning, the GBP/USD currency pair found support in the weekly S1 simple pivot point at 1.0637. Meanwhile, it appeared that minor resistance was provided by the 50-hour simple moving average near 1.0740. Economic Calendar On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal Reserve Jerome
The resistance of the 50-hour simple moving average was enough to force the EUR/USD into declining an reaching a new low level. On Wednesday morning, the pair touched the 0.9540 level. Economic Calendar Analysis On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal Reserve Jerome Powell revealed
The price for gold has booked a new low level, as it approached the 1,620.00 level during the late hours of Monday's trading. The level acted as support and caused a retracement of the price up to the 1,640.00 level. Economic Calendar Analysis This week, there are two times to look at the economic event calendar. On Tuesday, at 14:00 GMT, the
The recovery of the USD/JPY pair has reached the 144.70/145.00 zone, which had acted as resistance for most of September. Once the zone was broken last week, the Bank of Japan intervened in the market. Economic Calendar This week, there are two times to look at the economic event calendar. On Tuesday, at 14:00 GMT, the CB Consumer Confidence index could impact
Since encountering resistance in the form of the 1.0900 level up to mid-Tuesday, the GBP/USD pair had confirmed the weekly S1 simple pivot point at 1.0637 as support and recovered to the combined resistance of the 1.0800 level and the 50-hour simple moving average. Namely, the GBP/USD has not been this low for more than half a century. Economic Calendar This week, there
The EUR/USD currency pair has revealed that it finds support in the 0.9600 level and resistance is provided by the 0.9700 mark. In the meantime, it was spotted on Tuesday morning that the pair was approached from above by the additional resistance of the 50-hour simple moving average. Economic Calendar Analysis This week, there are two times to look at the economic
With the start of Monday's trading, the price for gold reached a new low level, as it shortly fluctuated below 1,630.00. The decline was attributed to the broader strengthening of the US Dollar, which was caused by the release of the UK fiscal budget and a run to the safety of the USD. Economic Calendar Analysis This week, there are two times
Last week, for the first time since 1998, the Bank of Japan has intervened in the currency market with direct transactions. However, the manipulation appears to have failed as by mid-Monday the pair was approaching the 144.50 level and could soon once again be above the 145.00 mark. In the meantime, it was spotted that the pair was shortly being impacted
At the start of the week, the GBP/USD plummeted due to the release of the UK's fiscal budget plan. The pair has reached low levels that have not been seen since 1985. Moreover, the pair shortly traded below the 1985 low level. Namely, the GBP/USD has not been this low for more than half a century. Economic Calendar This week, there are
At the start of this week's trading, the global strengthening of the US Dollar continued, as the EUR/USD reached the 0.9550 level. In the meantime, it was noticed that the pair was respecting the resistance of the 0.9700 mark. Economic Calendar Analysis This week, there are two times to look at the economic event calendar. On Tuesday, at 14:00 GMT, the CB
In general, the Bank of Japan has intervened in the forex market by pumping up the Yen massively. This has resulted in a drop of the US Dollar index, which in turn caused a surge of the price for gold. Meanwhile, from a broader perspective the price remained in the previous sideways trading range between 1,655.00/1,660.00 and 1,677.60/1,680.25 even during the
The USD/JPY currency pair was surging in the aftermath of the US rate hike on Thursday morning. However, at the time of the analysis the pair suddenly plummeted from 145.90 down to the low levels below 142.50 in less than 20 minutes. It has been reported that for the first time since 1998, the Bank of Japan has intervened in
Initially the Federal Reserve Rate hike and press conference caused major volatility, but the resistance of the 1.1350 held. Afterwards, a decline occurred, which reached below 1.1250. However, during the early hours of Thursday's European trading, the currency pair began a recovery and approached the 1.1300 level. Economic Calendar On Thursday, all GBP pairs will adjust to the new UK monetary policy,
The EUR/USD was highly volatile during the release of the Federal Reserve rate and follow up press conference. The high volatility ended with the pair declining. At midnight to Thursday, the pair reached the 0.9808 level. During the morning hours, the pair was expected to look for support in the 0.9800 mark and the weekly S2 simple pivot point. Economic Calendar
The price for gold is still trading between support at 1,655.00/1,660.00 and resistance at 1,677.60/1,680.25. The commodity price has been in this range since September 16, as it awaits for the US Federal Reserve Rate hike at 18:00 GMT on September 21 to reveal the future direction of the US Dollar and the price. Economic Calendar Analysis This week, the top event