Monday showed a significant dive from the previous high where the monthly PP weekly R1 are located at 0.826.
After two days of Gold's correction, provided by the long-term downtrend line around $1,220, XAU/USD received a strong bullish impetus from the weekly pivot point / 100-day SMA and jumped more than $15 per ounce to cross the mentioned resistance.
Yet again USD/JPY failed to sustain a recovery, but this time already in the vicinity of 120 rather than near the December highs at 121.
Although GBP/USD seems to have found support ahead of 1.50, the risks are still considered to be skewed to the downside.
Following seven days of consecutive losses for EUR/USD, on Friday the pair managed to erase some of them, as a demand area around 1.18 pushed the Euro to the north.
The USD failed to upbeat the NZD in its value recently and the pair continued its upward move during the whole week.
The cross ticked higher today, forming the daily high at 1.188, the monthly R2.
The AUD/USD flew 71 pips higher today, entering the neutral RSI territory.
The EUR/JPY lost some previous gains and slid for about 50 pips from the last bearish candle close at 141.084.
XAU/USD cross traded in rather calm environment back on Thursday, as no drivers managed to pushed the bullion trading in any direction.
Thought USD/JPY has seemingly broken the up-trend to the downside, the pair gained a foothold above 119 once again.
The bearish pressure on the Sterling has somewhat tempered, but the bias remains negative.
For a tenth consecutive day the Euro has been underperforming the US dollar, as yesterday it dropped below the major level at 1.18 and has even crossed a considerable support represented by monthly S2 at 1.1781.
The EUR/JPY pair did not move anywhere far from the last trading day close.
In respect of the latest bullish move, the NZD/USD appreciates more than 50 pips from the last daily close
Thursday was another quiet day for the market as both bulls and bears did not manage to decide where to move the market.
The AUD/USD bravely rebounded from the weekly S1 at 0.803 and proceded to grow toward the 4-hour 55-day SMA together with the nearly positioned 100– day SMA
After major gains for three days in a row, on Wednesday Gold has eventually commenced a correction period from the long-term downtrend line which is currently located at $1,220.
USD/JPY is currently attempting to recover the recently lost ground, but the upside may well be limited by the just breached rising trend-line at 119.
As the demand at 1.5150 (weekly S2 and monthly S3) did not succeed at stopping the sell-off, the Sterling is likely to lose even more value in the coming weeks.
EUR/USD has been declining constantly since December 25 by losing as many as 400 pips from that time.
"A restrictive fiscal position remains a headwind to the economic outlook and all else equal is helping to support a lower-than-otherwise New Zealand dollar and official cash rate." - ANZ Bank New Zealand Ltd. (based on Bloomberg)Pair's OutlookThe NZD/USD pair was less volatile than the day before, with market participants trading in almost 72 pip range. Regardless, the USD managed
"Canadian equity new-issue finance may not be as high as what we saw last year, but we don't see it dropping by a major factor." - RBC (based on Bloomberg)Pair's OutlookThe USD/CAD followed the previous tendency and continued to move higher from the last day close at 1.1835. However, the pair not only enters the overbought area but also loses some
"In calm markets, offshoots in exchange rates can exist for a while, but in volatile markets there's a revert to the mean and currencies find their true value." - Deutsche Bank (based on Bloomberg)Pair's OutlookThe trades moved closer to the 2004 spike at 0.801 level. However, the pair is currently hovering above the Bollinger band at 0.803 and have not