"We have further easing pencilled in for the January meeting -- we think it's highly likely they will essentially announce the sovereign bond-buying." - Nomura Holdings Inc. (based on Bloomberg)Pair's OutlookWednesday trading day revealed the first daily green candle since the consecutive decline from the end of the December. Rising almost 88 pips from the daily open at 140.766, the
XAU/USD cross showed a bullish development for a third consecutive day back on Tuesday of this week, as it breached the weekly R1 resistance line and went even further to the upside.
As it turned out, a cluster of supports at 119 was unable to keep USD/JPY afloat, allowing the pair to descend to the 23.6% Fibo at 118.
GBP/USD disregarded the down-trend line and closed beneath 1.52.
On Tuesday, the EUR/USD currency pair deteriorated even more considerably, as they pair has finally managed to cross the demand area around 1.1930 (monthly and weekly S1).
The Tuesday trading have not surprised the market too much and the NZD/USD performed like expected.
The USD/CAD moved in a zig-zag pattern during the whole day, yet, formed another bullish candle.
Tuesday trading respected the previous green candle and continued the upward move.
The recent fall continued its presence as the pair slid down 139 pips from 142.769 to 141.379, the monthly S2 level.
Gold appreciated further on Monday, as it managed to consolidate above the major cluster of support levels around $1,190 and even surpassed the major level at $1,200.
USD/JPY returned to the rising support line at 119, which is supposed to stay intact for the medium-term bullish outlook to remain valid.
GBP/USD seems to have stabilised after hitting the down-trend that connects the September and November lows.
Yesterday, the EUR/USD currency pair was mostly unchanged, as it continued to hover above the major support level at 1.1940, represented by monthly and weekly S1.
The NZD/USD pair seems to be respecting the descending flag pattern, which is forming since the end of September 2014.
The Monday session opened a few pips higher from the last candle close.
Monday session started by moving the AUD/USD pair higher from the 0.8069 level, which is the 2010 year low.
The EUR/JPY tumbled 186 pips from the previous close, breaking the 55– day SMA and the monthly S1 support at 143.08 later the same day.
XAU/USD recovered in price during the first trading day of 2015 on January 2.
As it turns out, USD/JPY is currently neither able to push through the resistance at 121, nor to penetrate the support at 119.
As the markets re-evaluated the possibility of the BoE tweaking the rates in 2015, the Sterling took a massive hit, plummeting more than 250 within a day.
Last Friday, the EUR/USD currency pair dropped considerably, as it reached the major level of 1.20 and crossed a number of important support lines, including the 2012 low.
After indecisiveness during the last days of 2014, USD/SGD is now boldly moving north, towards the 2008 low at 1.3445, despite the technicals being largely mixed. While on its way to the resistance the pair should be supported at 1.3353, where the weekly R1 coincides with the daily R1 and the up-trend. However, if this demand is insufficient, the exchange
Since the resistance at 1.18 proved to be impenetrable earlier this year, AUD/SGD has been in a distinct bearish trend. First it established a ceiling at 1.14, now there is a dense supply area around 1.09. The risks are skewed to the downside also according to the four-hour and weekly technical indicators.The nearest significant support is at 1.0620 (Dec low
The NZD/USD pair dived 100 pips during this Friday, down from 0.78 to 0.77.