The Euro experienced another rally against the Yen yesterday, easily reclaiming the 115.00 major level.
The pair has established a consistent uptrend since year 2012, which it is currently testing at 1.4785 after a dip underneath. In addition to the broken trend-line, the weekly chart shows a descending triangle pattern running the trend, shifting our expectations towards a bearish scenario. A cluster of various time frame SMAs put pressure on the currency, which will, in
The Swiss Franc was appreciating strongly up until June 2015, when SNB's attempts to mitigate the overvaluation of the safe haven currency started paying off. Proof for the Franc losing its safe haven status came after the Brexit vote, when investors chose the Yen instead of the Swiss Franc for their risk-off sentiment investments. The pair is now approaching the
The yellow metal is located between two weekly support levels at 1,310.87 and 1,301.13 without clear direction on Thursday morning.
The USD/JPY currency pair posted more gains on Wednesday, but they were limited by the eight-month resistance line at 103.55.
The British currency managed to outperform the Greenback on Wednesday, not only retaking the 1.31 level, but also negating Monday's and Tuesday's losses.
The common European currency moved slightly lower on Thursday morning against the US Dollar, as the currency exchange rate still does not manage to find enough support in the cluster below it to rebound.
The New Zealand Dollar appreciated against the US Dollar on Wednesday, as the currency exchange rate moved from 0.7222 at the start of the day's trading session to 0.7247 by 11:30 GMT.
The US Dollar is trading flat against the Canadian Dollar on Wednesday after scoring gains and surging to 1.31 mark on Tuesday.
The Australian Dollar experienced a harsh sell-off on Tuesday, with volatility even reaching the 100-day SMA at 0.75.
The Euro continued to outperform the Japanese Yen, with the exchange rate climbing 70 pips higher yesterday.
The Greenback managed to appreciate against the Japanese Yen yesterday, with trade closing in front of the 113.00 major level—right in the middle of the immediate resistance cluster.
The Sterling experienced another leg down on Tuesday, falling under 1.31 major level.
The yellow metal is slightly recovering on Wednesday, as it plunged and reached below the 1,310 level on Tuesday.
The common European currency rebounded against the support provided by the weekly S1 at 1.1132, and it is surging on Wednesday morning, as the rate faces no resistance up to the level of 1.1203, where the 20-day SMA is located at.
On Tuesday, the Kiwi remained volatile against the US Dollar around the same level as on Monday, as the currency exchange rate bounced up and down near the 0.7250 level.
The US Dollar continued to surge against the Canadian Dollar by the middle of Tuesday, as the rate was struggling with resistance put up by the monthly pivot point at 1.3043.
Despite strong downside volatility yesterday, demand, represented by the immediate support cluster, was sufficient to keep the AUD/USD currency pair elevated.
The EUR/JPY currency pair remained relatively flat yesterday, having erased all intraday gains and settled with a 16-pip loss, thus, leaving the 114.00 major level intact.
2016 kicked off with an attempt at seven-year lows, and the pair established decent support at the 70 cent mark in the monthly chart, which implies that it has limited downward potential if March 2009 lows are not broken. However, that might just be the case as the weekly channel shows no signs of weakness. The Aussie encountered a dynamic
The yellow metal opened Tuesday's trading session higher than the previous Monday's close, as the metal traded above the 1,320 level on Tuesday morning.
On Monday the USD/JPY currency pair remained relatively unchanged, but still edged below the 102.00 major level.
The common European currency is threading lower against the US Dollar, as the rate has retreated below the Monday's opening price of 1.1174.
Even though the British currency failed to outperform the American Dollar on Monday, it lost only 13 pips that day, managing to retain its position above the 1.31 mark.