USD/NOK put an end to the rally it had been sustaining for four years adding 70 percent to the value of the US Dollar against the Norwegian Krone, and took a 10 percent dip in 2016. The pair is currently consolidating and we do believe that a symmetric triangle has been formed and that the bullish trend will continue on
The New Zealand Dollar continued to book gains against the US Dollar mid-Monday, as the currency exchange rate steadily moved higher.
Risk-off sentiment caused by the Brexit vote in the United Kingdom caused the Pound to take a dive into all time lows against the safe haven currency, creating a snowball effect of supply and demand when investors cashed out Pounds to exchange them into Swiss Francs and Japanese Yen. An event surpassing the Brexit vote in significance was the abolishment
The USD/CAD pair began to fall sharply on Friday, and it continued the fall during first half of Monday's trading session.
The Australian Dollar continued to struggle in booking gains against the US Dollar on Monday. The pair faced the resistance put up by the monthly pivot point at 0.7589
The Euro suffers majorly against the Japanese Yen on Monday, as the currency exchange rate fell and showed no signs of stopping the fall mid-Monday.
The common European currency is between two strong clusters against the US Dollar on Monday, as the currency exchange rate previously on Friday retreated from the 1.12 level by the end of day's trading session.
The current setup is bullish for USD/JPY, as the currency pair has broken out of the descending channel that had been guiding the price lower since the end of 2015.
The yellow metal is moving lower on Friday morning, as it opened Friday's trading session at 1,314.61 and started moving lower after a slight bounced above the 1,315 level.
The Cable is now well-supported both from the UK and US sides, meaning we may expect an even stronger Pound in the near future.
The Kiwi continues its way back up against the US Dollar, as the rate reached back to the channel upward pattern's middle after almost touching the lower trend line in the middle of this week.
The US Dollar fell on Friday against the Canadian Dollar, as the currency exchange rate did not manage to break the resistance put up by the weekly R2 at 1.3131, which it had been pounding on for the previous two trading sessions.
On Thursday the Australian currency continued to gain value against the American Dollar, but with gains limited by the 55-day SMA at 0.7557.
EUR/CAD has been consolidating over the past few years after the 2013/2014 surge resulted in a conquest of 1.5269 – the 4 year high at that point, and the level has not been broken until this day. The monthly chart shows the pair to be moving inside of a symmetrical triangle, near to the lower trend-line. We expect the upper
For the third consecutive day this week the Euro managed to outperform the Yen, with volatility contained by the Bollinger band and the weekly R2 from below and the resistance cluster just under 116.00 from above.
USD/SGD showed signs of weakness over the first eight months of 2016, posting eight percent of losses in June. Respecting the 1.3345 support level, the pair has recovered 2.6 percent since then, and might continue to erase the losses just after a retracement to the broken trend-line around 1.3457 is accomplished. After experiencing severe volatility during Yellen's speech on August
EUR/SGD has developed a strong upper trend-line for the symmetrical triangle it has been maintaining over a year or so. The rate is quite far along the pattern, implying that a downward breakout might come in the following months. This dynamic is approved by the descending channel that the pair has been following since 2007 and hints that the actual
The yellow metal is moving lower on Friday morning, as it opened Friday's trading session at 1,314.61 and started moving lower after a slight bounced above the 1,315 level.
Even though the US Dollar weakened against the Yen on Thursday, the pair still experienced only an 18-pip loss.
A strong reading of the UK Manufacturing PMI yesterday allowed the Sterling to take the upper hand versus the US Dollar, with the exchange rate reaching the tough resistance area 1.33.
The common European currency traded at 1.12 against the US Dollar on early Friday morning, as the currency exchange rate surged above the newly formed monthly pivot point at 1.1190.
The US Dollar continues its surge against the Canadian Dollar, as it struggles against the weekly R2 at 1.3131.
Even though the Aussie managed to appreciate against the US counterpart on Wednesday, trade closed with only a seven-pip rally.
The New Zealand Dollar is bounced between two pivot points against the US Dollar on Thursday, as it was squeezed in by the weekly pivot point at 0.7279 and the monthly pivot point at 0.7240.