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. A decline of the GBP against the US Dollar below the weekly S1 simple pivot point at 1.0637 might look for support in the 1.0600 and 1.0500
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. An extension of the ongoing decline of the Euro against the US Dollar might look for support in the 0.9500 and 0.9450 levels. Further below, note the weekly S2
The USD/CAD pair has encountered resistance in the 1.3800 level and support was provided by the 1.3650 level. In addition, the 1.3650 level was strengthened by the 50-hour simple moving average. Meanwhile, the rate was ignoring the weekly R1 simple pivot point at 1.3718. A move above 1.3800 could encounter resistance in the 1.3850 level and the weekly R2 simple pivot
In the aftermath of the Monday's GBP crash, the GBP/JPY currency pair has recovered. On Tuesday, the pair was trading almost flat at the 156.00 level. If the Pound recovers against the Yen, the rate might encounter resistance in the combination of the 158.00 level, the weekly simple pivot point at 158.39 and the 100-hour simple moving average. On the other
On Monday, the AUD/USD rate found support in the 0.6440 level and started a recovery. On Tuesday, the recovery encountered resistance in the form of the 50-hour simple moving average. The SMA pushed the rate down. A decline below the 0.6440 level might look for support at 0.6400 and the weekly S2 simple pivot point at 0.6362. Further below, note the
This week, the drop of the EUR/JPY eventually found support in the 137.50 level, before retracing to levels near 139.00. On Tuesday, the pair fluctuated in the 138.75/139.50 range. A move above 139.50 might encounter resistance in the 140.00, 140.50 and 141.00 levels. In addition, the weekly simple pivot point at 140.58 could stop a potential surge of the
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. A resumption of the decline of the metal's price might continue from one round price level to the next one
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. A move above the 145.00 level might result in the rate finding resistance in the 145.50 and 145.75 levels. However, it is currently unclear at which
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. A move above 1.0800 is expected to once again find resistance in the 1.0900 level. Higher above,
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. In the case of the 50-hour SMA pushing the rate down, the
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. A potential recovery of the commodity price is
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. However, by the middle of
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. A resumption of the decline of the Euro against the US Dollar is highly likely going to look for support in
The USD/CAD was approaching the 1.3550 level, as a fundamental event caused a sharp drop of the USD. Namely, the Bank of Japan intervened and bought up such amounts of the Yen at 08:00 GMT that the US Dollar index declined and a spill over occurred into other pairs. It resulted in a the pair declining to 1.3415. However, by
In general, set technical analysis aside for now and watch the news flow and comments from the Bank of Japan and Bank of England. It has been reported that for the first time since 1998, the Bank of Japan has intervened in the currency market with direct transactions. The central bank operation has been confirmed by the bank's representative Masato
First of all note the high volatility of late Wednesday's trading. The moves were caused by the US Federal Reserve rate hike and press conference. The initial hike caused a spike down, during the press conference the pair recovered, after all events were over the decline continued. The AUD/USD extended the decline on Thursday morning until the Bank of Japan
In general, set technical analysis aside for now and watch the news flow and comments from the Bank of Japan. It has been reported that for the first time since 1998, the Bank of Japan has intervened in the currency market with direct transactions. The central bank operation has been confirmed by the bank's representative Masato Kanda, who stated "We
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
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. At the time of writing the reason for the apparent fundamental drop could not be identified, as the
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. A resumption of the broader decline is expected to find minor support in the
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. A
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. In the meantime, note that the 2021
Prior to the FOMC Rate Statement and Monetary Policy Statement, the USD/JPY currency pair reacted to a broader USD surge. On the pair's charts it resulted in a move above the 144.00 mark. If the Fed hikes more than the market expects, the USD is set to surge and most likely test the resistance of the 144.68/145.00 zone and the