The Euro plunged more than 200 pips against the Japanese Yen on Thursday, following BoJ Governor's statement.
Following Thursday's spike in gold prices, this precious metal is now finally awaiting a consolidation above a busy cluster of resistances placed between 1,224 and 1,231.
As was anticipated, the USD/JPY currency pair slumped after BoJ Kuroda's statement yesterday, with the exchange rate reaching a fresh 18-month low of 107.67.
The British Pound plunged against the US Dollar for the third consecutive day yesterday, amid concerns over ‘Brexit' continuing to weigh on the Sterling.
Since last Friday neither bulls nor bears have managed to take market in hand. Yesterday was a turbulent day, as the spot ranged from 1.1340 to 1.1455.
Despite a dovish FOMC Minutes statement, the New Zealand Dollar was unable to post significant gains against the US Dollar yesterday.
The USD/CAD currency pair completely erased Wednesday's gains, without breaking any significant support or resistance levels.
The Aussie underperformed on Wednesday, as it failed to reach the target level, with price closing on top of the 0.76 psychological level.
The European single currency inched only 45 pips lower against the Yen on Wednesday, with the immediate support cluster limiting the dips.
As long as yellow metal continues to ignore a very important technical cluster at 1,224/30, we are going to maintain a mostly sideways outlook for prices.
Dovish Fed statement caused the USD/JPY currency pair to drop more than 50 pips lower, therefore, completely breaking out of the descending channel to the downside.
Fears of a ‘Brexit' kept weighing on the British Pound on Wednesday, but a rather dovish FOMC statement helped the Cable to erase most of intraday losses.
With mixed signals coming from the Federal Reserve, the EUR/USD currency pair continued to trade sideways on Wednesday.
A continued decrease in oil prices caused the Kiwi to weaken against the US Dollar on Tuesday, but the pair managed to partially recover from its intraday low, amid poor US fundamentals.
The USD/CAD currency pair broke out of the descending channel to the upside yesterday, but with the immediate resistance cluster limiting those gains.
As was anticipated, the immediate support cluster managed to keep the AUD/USD currency pair from edging lower yesterday, despite a continued decline of commodity prices.
With the return of risk aversion, the EUR/JPY cross experienced a rather gradual decline of more than 100 pips.
On Tuesday gold prices soared for the first time in three days, as bullish action pushed the spot beyond 1,230.
Risk aversion caused the USD/JPY currency pair to experience a decline on Tuesday, with the pair edging lower towards the descending channel's support line.
The British currency experienced a rather sharp sell-off yesterday, edging below the six-week up-trend, with trade closing at 1.4162.
Yesterday the bears tried to take leadership over the EUR/USD currency pair, but all losses were ultimately eroded by revived bullish strength.
The New Zealand Dollar plunged more than 50 pips against its US counterpart on Monday, amid a oil prices declining that day.
A decrease in oil prices caused the USD to outperform the Loonie, with the descending channel's resistance line getting breached.
The Australian Dollar weakened against the US Dollar yesterday, with trade closing at the 0.76 major level.