This week, the USD/JPY pair is trading around 135.00, as it awaits the release of the US Consumer Price Index on Wednesday and the Producers Price Index on Thursday. Resistance is found in a zone at 135.50 and support is provided by the 134.50 level. A surge of the USD against the Japanese Yen would have to pass the 135.50 level,
The GBP/USD is trading around the 1.2100 mark, as it has begun to await for this week's fundamental events. The US CPI, PPI and UK GDP data releases are set to guide the exchange rate during the rest of the week. However, technical levels might act as short term resistance or support. A move of the pair upwards might encounter resistance
On Tuesday morning, the EUR/USD ended its sideways trading around the 1.0200 mark with a surge. By 09:00 GMT, the rate had reached the 1.2050 mark. In the meantime, the markets were expecting the US Consumer Price Index release on Wednesday at 12:30 GMT. In general, it was expected that the whole financial markets will remain near previous levels
The better than expected US Employment data caused a drop of the price for gold below the support zone at 1,771.30/1,773.10. However, after two hours, the commodity price recovered above the zone and started to use it as support. On Monday, the price started a broad recovery and reached as high as the 1,790.00 level. A move above 1,790.00 could encounter
In the aftermath of the US Dollar's surge, which was caused by the US employment data release, the USD/JPY found resistance in the 135.50 level. The resistance held and caused a decline. On Monday, the pair found support in the 134.50 level and a zone, which surrounds it. A surge of the USD against the Japanese Yen would have to
The US employment data release on Friday caused a drop of the GBP/USD below the support zone near 1.2080 and the 1.2050 level. The pair eventually found support near 1.2000 and recovered. During Monday's trading, the recovery encountered resistance in the 100-hour simple moving average near 1.2130. An extension of the decline of the Pound against the US Dollar might look
On Friday, at 12:30 GMT, the EUR/USD plummeted due to the very good US employment data, which indicated that the Federal Reserve can hike USD interest rates and cause a decrease in USD supply. The pair plummeted from 1.0240 down to the 1.0140 level. However, since the event the pair has recovered. During the second part of Monday's trading,
The price for gold has reached above the 1,784.40/1,788.70 zone. Afterwards, resistance was found in the 1,795.00 mark. On Friday morning, the commodity price was finding support in the previous resistance zone, as the 1,788.70 level appeared to be keeping the price up. If the metal manages to recover, the 1,795.00 level and the 1,800.00 mark are expected to provide resistance.
The Thursday's decline of the US Dollar against the Japanese Yen found ended at midnight below the 133.00 level. During the early hours of Friday's trading, the pair recovered and approached the combined resistance of the 133.50 level and the 50-hour simple moving average. A potential move above the 133.50 level might encounter resistance in the 134.00 mark and the 200-hour
In the aftermath of the Bank of England rate hike, the GBP/USD currency rate has returned to trade near the 1.2150 level. In general, it appears that the effect of the 0.50% base rate increase was offset by the fact that one of the policymaker voted against the hike. On Friday, the upper and lower ranges of the recent volatility
During the second part of Thursday's trading, the EUR/USD currency pair managed to reach above the resistance of the 1.0200 mark and the weekly simple pivot point at 1.0193, and the 200-hour simple moving average. Moreover, the 100-hour SMA failed to act as resistance near 1.0210. On Friday morning, the EUR/USD traded near the 1.0240 level and appeared to
The 1,745.00/1,755.00 zone provided enough support to the price to gold for a broad recovery. By 13:30 GMT, the price had managed to reach and bounce off the resistance zone at 1,784.40/1,788.70. A decline of the commodity price could look for support in the 1,771.30/1,773.10 range. Further below, the 1,745.00/1,755.00 levels are expected to once again act as support. However, a surge
Since Wednesday's afternoon up to the middle of Thursday's trading, the USD/JPY currency pair was testing the resistance of the 134.50 mark and the weekly simple pivot point at 134.39. By 13:00 GMT, the rate was reached by the 200-hour simple moving average, which acted as resistance. The event was followed by a decline, which pierced the support of the
At 12:00 GMT on August 4, the Bank of England hiked its Official Bank rate by 0.50% from 1.25% up to 1.75%. In addition, the central bank has published its Monetary Policy Summary. The Pound lost value due to the details of the monetary policy summary. Namely, one of the committee members did not vote for the 0.50% rate hike. Instead,
On Wednesday, the EUR/USD dipped to the support of the weekly S1 simple pivot point at 1.0128, which together with the 1.0125 level appears to have caused a recovery. By the middle of Thursday's European trading hours, the pair had recovered and was once again testing the resistance of the 1.0200 level, the weekly simple pivot point at 1.0193
Since the start of Tuesday's trading, the USD/CAD currency exchange rate has been trading around the 1.2850 mark. Namely, the pair has been fluctuating in the 1.2830/1.2890 range. An end to the sideways trading with a surge above 1.2890 might encounter resistance in the weekly R1 simple pivot point at 1.2896 and the 1.2900 mark. Higher above, note the weekly
The 159.50 level was enough to cause a major recovery of the GBP/JPY currency exchange rate. By the second part of Wednesday's trading, the pair had reached the 162.00 level. A continuation of the surge and move above 162.00 is set to encounter resistance in the 200-hour simple moving average near 163.35 and the weekly simple pivot point. Higher above,
During the midnight hours to Wednesday, the AUD/USD currency exchange rate for a short period of time traded below the 0.6900 level and the weekly S1 simple pivot point. However, during the day's European trading hours, the currency pair returned to trade above the 0.6900 mark. In the case of the rate returning back below the 0.6900 mark support might
The Euro found enough support in the Japanese Yen in the 133.50 level to start a recovery. By the start of Wednesday's US trading hours, the rate had reached above the 136.00 mark. A continuation of the currency pair's surge might encounter resistance in the combination of the 137.00 mark, the weekly simple pivot point at 137.28 and the 200-hour
On Tuesday, the price for gold eventually reached above the 1,785.00 mark and the 1,786.65 level. However, the short piercing of the resistance levels was followed up by a decline to the 1,755.00 level, which acted as support and caused a minor recovery. By the middle of the day's European trading hours, the commodity price's recovery had found resistance in
On Tuesday afternoon, the USD/JPY currency rate ended trading between 130.50 and 131.00 with a surge. During Wednesday's early trading hours, the pair was fluctuating between the 132.50 and 134.00 levels. A potential decline of the currency pair might look for support in the 132.00 mark and the 50-hour simple moving average at that level. Further below, note the weekly S1
During the midnight hours from Tuesday to Wednesday, the GBP/USD reached and shortly traded below the 1.2150 mark. However, the event was followed by a recovery. During the European morning hours, the rate managed to reach back up to the 1.2200 level. A move of the Pound against the US Dollar might encounter resistance in the 50-hour simple moving average near
The decline of the Euro against the US Dollar has passed below the support of the 1.0200 mark, the weekly simple pivot point at 1.0193 and the 100 and 200-hour simple moving averages. During the early hours of Wednesday's trading, the currency pair confirmed the weekly simple pivot point as resistance. Meanwhile, it was observed that the 1.0160 level
Despite reaching below the 1.2800 mark, the USD/CAD rate eventually started a recovery on Monday. On Tuesday, the pair traded above 1.2850. In the case of a continuation of the US Dollar's recovery against the Canadian Dollar, the pair might encounter resistance in the 1.2900 mark and the weekly R1 simple pivot point at 1.2896. Higher above, take into account the