As the Japanese Yen continues to loose value against other currencies, the GBP/JPY rate has reached above the 166.00 level. However, the event was followed by a retracement back down. By the middle of Thursday's European trading hours, the pair had found support in the combination of the 165.00 mark and the 50-hour simple moving average. In the case of the
The 0.6770/0.6775 support zone was confirmed to be acting as resistance during the midnight GMT hours between Wednesday and Thursday. The resistance caused a decline, which was ignoring the weekly S1 simple pivot point and the 50-hour simple moving average. However, it was observed that the rate was respecting the 0.6720 and 0.6760 levels. A resumption of the AUD/USD decline would
The surge of the EUR/JPY currency pair has reached a new high, as the pair has reached above 144.00. However, the event was followed by a consolidating decline to the 143.50 level. On Thursday, at 12:15 GMT the European Central Bank was set to make a rate statement and a follow up conference was scheduled for 12:45 GMT. In
The support of the 1,688.65/1,692.90 zone was enough to cause a surge of the commodity price to the 1,720.00 mark. During Thursday's European morning hours, the price was piercing the round price level. A move of the price higher might encounter resistance in round price levels. Note the 1,725.00 level, which reversed the recovery on Monday. However, a decline of the
The 145.00 mark has provided enough resistance for the USD/JPY to start a retracement downwards. By the start of Thursday's European trading hours, the currency pair had reached the 143.50 level and the 50-hour simple moving average. A move below 143.50 could look for support in the 143.00 level and the weekly R2 simple pivot point at 142.74. Further below, note
On Wednesday, the Pound almost reached the 1.1400 mark against the US Dollar. In general, the GBP/USD pair has not been this low since March 2020. However, the combined support of the weekly S1 simple pivot point at 1.1411 and the 1.1400 mark was enough to cause a retracement back up. During the early hours of Thursday's European trading, the
The 0.9865/0.9875 zone was enough to cause a recovery of the Euro against the US Dollar. The surge eventually reached above the 1.0000 mark. On Thursday morning, the pair was finding support in the weekly simple pivot point at 0.9980. A surge of the Euro against the USD might face resistance in the weekly R1 simple pivot point at 1.0050.
The price for gold has once again retreated below the 1,700.00 mark. Meanwhile, by the middle of Wednesday's trading, it was spotted that support is being found in the 1,688.65/1,692.90 zone. However, resistance appeared to be provided by the 50 and 100-hour simple moving averages. A move of the price below the 1,688.65/1,692.90 zone could result in the price reaching the
The surge of the US Dollar against the Japanese Yen has escalated. Namely, the pair has broken the channel up pattern to the upside and by mid-Wednesday the rate was already at 145.00. A continuation of the surge could encounter resistance only in round levels. The pair has broken all known technical resistance. On the other hand, it can be
At mid-day on Wednesday, the GBP/USD currency pair reached below the 1.1450 level and approached the support of the weekly S1 simple pivot point at 1.1411. A move below the weekly S1 at 1.1411 is expected to almost immediately pause at the 1.1400 mark. Further below, take into account the 1.1350 level and the weekly S2 simple pivot point at 1.1321. However,
At mid-day on Wednesday, the EUR/USD remained near the 0.9880 level and the weekly S1 simple pivot point at 0.9881. In the case of the Euro resuming its decline against the US Dollar, the pair could look for support in the weekly S2 simple pivot point at 0.9812. Further below, the 0.9800 mark might act as support. On the other hand,
On Tuesday morning, the price for gold shortly reached above the 1,725.00 mark and touched the resistance of the 200-hour simple moving average. The resistance appeared to be enough to force the pair into sideways trading near the 1,720.00 level. A resumption of the recovery of the commodity price would have to pass the combination of the 200-hour SMA and the
The USD/JPY currency exchange rate has continued to surge. On Tuesday morning, the pair was steadily approaching the 142.00 mark. From a technical analysis perspective, the move was caused by the 50-hour simple moving average catching up to the pair and providing support. A move above the 142.00 mark might encounter resistance in the upper trend line of the channel up
The GBP/USD currency pair appears to have ended its steep decline, as it has recovered from 1.1450 up to the 1.1600 mark. During the surge, the rate passed the resistance of the 50 and 100-hour simple moving averages and the weekly simple pivot point. A move of the Pound higher against the US Dollar might encounter resistance in the 1.1650 level,
The EUR/USD currency pairs recovery reached the combined resistance of the 100 and 200-hour simple moving averages and the weekly simple pivot point at 0.9980 on Tuesday morning. A move above the technical levels at 0.9980 could encounter resistance in the 1.0000 mark. Higher above, note the weekly R1 simple pivot point at 1.0050. On the other hand, a
On Friday, the USD/CAD found support in the 1.3060/1.3075 zone and started a recovery. By the middle of Monday's European trading hours, the pair had reached above the 1.3150 mark. However, it was observed that the rate was fluctuating around the round level, despite shortly reaching above it. A continuation of the US Dollar's surge against the Canadian Dollar is expected
On Monday morning, the GBP/JPY currency exchange rate found support in the weekly S1 simple pivot point at 160.64. By the middle of the day's European trading, the pair had recovered and broken the resistance of the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 161.50/161.65. A continuation of the surge
The AUD/USD currency pair has revealed a support zone at 0.6770/0.6775. At mid-day on Monday, the pair was fluctuating between the support zone and the resistance of the 0.6800 level, which was strengthened by the 50-hour simple moving average. A move above 0.6800 is expected to approach the resistance of the 100-hour simple moving average near 0.6830. Higher above, take
On Friday, the EUR/JPY currency exchange rate bounced off the resistance of the 140.50/140.75 zone. On Monday morning, the pair found support in the last week's low level zone at 138.30/138.70. A move below the support zone could almost immediately find additional support in the 200-hour simple moving average near 138.20. Further below, the 138.00 level might also slow
The recovery of the price for gold hit resistance in the form of the 100-hour simple moving average near the 1,715.00 mark. During the first half of Monday's trading, the price was still kept down by the SMA. A decline of the commodity price might look for support in the combination of the 1,705.00 level and the 50-hour simple moving
On Monday morning, the USD/JPY currency exchange rate remained near the 140.50 level. In general, the pair has been trading between the 140.00 and 140.80 levels since Friday. In the case of a surge, the pair would have to pass the Friday's high level at 140.80. Higher above the 141.00 mark and the weekly R1 simple pivot point at 141.44
The decline of the Pound against the US Dollar has reached the 1.1450 level. The pair has been declining in a set way. A new round low level is reached, the pair then retraces back above the previous round level, prior to reaching a new low level. For example, GBP/USD reached 1.1500, recovered above 1.1550 and then reached the 1.1450
On Monday morning, the EUR/USD currency pair booked a new historical low level, as the rate reached below the 0.9900 mark. However, the pair found support in the 0.9880 level and the weekly S1 simple pivot point at 0.9882. A potential recovery of the Euro against the US Dollar might encounter resistance in the combination of the 50, 100 and
On Thursday, the price for gold reached below the 1,700.00 mark and hit the 1,690.00 level, which acted as support. By 09:30 GMT, the price had recovered and broken the upper trend line of the channel down pattern and the 50-hour simple moving average. A continuation of the surge of the commodity was expected to encounter resistance in the 1.710.00/1,715.00