Yesterday, as Mario Draghi spoke, the common European currency skyrocketed against the rest of the markets. After the ECB press conference
Contrary to prognoses, after updating the six month record at the 0.7373 level, NZD/USD did not continue the surge towards the weekly R1 at 0.7411.
In line with expectations, the currency exchange rate has left a falling wedge formation in the upward direction, breaking though the 20- and 55-hour SMAs.
The end of the yesterday's trading session the currency pair spent in the sluggish surge that was smoothly guided by the 20-hour SMA from the bottom.
As it was projected yesterday, the downfall of the EUR/JPY was expectedly stopped between the 128.60 and 128.70 levels.
The bullion's price continues to move in accordance with the discovered patterns.
In line with expectations, the currency pair bounced off from a lower support line near the 111.596 mark and left a falling wedge in an upward direction, bypassing on the way the 20-, 55- and 100-hour SMAs.
Thursday's trading session the currency pair started in a sluggish horizontal movement, being squeezed between the 55- and 100-hour SMAs from the top and the weekly PP at 1.3008 from the bottom.
The common European currency has consolidated its gains against the US Dollar, as the currency exchange rate had retreated down to the 1.1510 mark on Thursday morning.
In line with expectations, the NZD/USD managed to recover after a 52-pip fall and continued to move upwards during the whole previous trading day.
The previous trading day did not bring any changes for the USD/CAD pair.
In accordance with technical indicators, the AUD/USD left all attempts to reach the weekly R2 at 0.7998 already in the middle of previous trading session.
The second half of Tuesday trading session showed that the EUR/JPY did succeed to overcome a barrier set up by the 200-hour SMA.
The yellow metal broke the resistance line, which was discovered on Tuesday. Due to that reason
On Tuesday, the USD/JPY currency pair continued to trade lower, but lost its momentum in the evening when the pair traded in a relatively narrow range.
Tuesday's session started with the Pound appreciating substantially against the US Dollar, which resulted in the rate reaching the upper channel boundary.
As it was expected the common European currency extended its gains against the US Dollar until the middle of Tuesday's trading session.
Two days ago the NZD/USD has entered into an ascending triangle pattern.
The early hours of Tuesday trading session showed that the American Dollar is continuing to trade against the Canadian Dollar in a recently formed descending channel.
In the second half of Monday the AUD/USD tried to slide back to the weekly PP at 0.7751.
Contrary to expectations, the EUR/JPY left a symmetrical triangle in the northern direction.
The upper trend line of the adjusted small scale ascending channel pattern is providing resistance to the commodity price.
On Monday, the US Dollar remained in a relatively constant range, even despite the massive leap mid-session.
GBP/USD was driven by slight momentum downwards on Monday that led the pair towards the 55-hour SMA circa 1.3040.