The Euro breaching the 200-hour SMA could point to some bearish sentiment in this session.
The yellow metal remains in the previously established triangle pattern.
The previous comment made that the breaking of the hourly SMAs could cause a bullish swing upwards has become reality.
The Pound consolidates after yesterday's plunge.
The pair remains trading along the 55-hour SMA towards the senior channel.
Gold has formed a minor ascending triangle against the US Dollar.
A bullish breakout of the 55-, 100- and 200-hour SMAs could point to further upside potential in this session.
Yesterday's bearish sentiment expected to prevail in this session, as well.
The breaching of the 55-hour SMA is likely to be followed by bearish momentum.
On Tuesday morning after a couple of more attempts to surge above the 1,350 mark, the metal's price had remained near the 1,340 mark.
On Tuesday it could be seen that the US Dollar had scored new low levels against the Japanese Yen.
Bearish pressure should prevail during the second part of the day.
The pair continued to push higher on Tuesday morning; however, this upward momentum should allay during the following hours.
The bullion almost touched the 1,350 mark in the last 24 hours.
The US Dollar has continued to decline against the Japanese Yen. However, on Monday morning it seemed that the decline had ended.
The 55-hour SMA is likely to continue guiding the Sterling.
Despite the resistance of the 55- and 100-hour SMAs, there is some upside potential apparent in this session.
After a short period of decline, the USD/JPY exchange rate picked up bullish momentum.
The Sterling should be guided by the 55-hour SMA in this session.
EUR/USD is likely to remain between the 55- and 200-hour SMAs today.
After piercing the 23.60% Fibonacci retracement level, the XAU/USD pair began to gain strength.
The bullion's price has surged like a rocket. All patterns have been broken and a full review of the Technical Analysis aspect will be done.
On Thursday the situation on the USD/JPY chart had changed. Namely, the currency exchange rate had been pushed lower by the 55-day SMA.
The pair is supported by the 55-hour SMA which might hinder the expected decline today.