Since the middle of Tuesday's trading, the USD/JPY has been trading in limbo around the 110.50 level. The rate has been kept down by the 55 and 200-hour simple moving averages. In the meantime, support was being provided by the 110.45 level. In the case that the rate declines, it could reach the 110.00 level. Note that the 110.00 level was
The GBP/USD passed the support of the 1.3860 level and declined to the support of the lower trend line of the channel down pattern. The trend line provided the pair with enough support for a recovery to the 1.3860 level. The 1.3860 mark managed to provide enough resistance for the pair to decline. By the middle of Wednesday's trading, the
The decline of the EUR/USD has reached below the 1.1900 level. Moreover, on Tuesday and Wednesday, the rate confirmed the 1.1910 level as resistance. In the near term future, the rate was expected to continue to decline. In theory, the rate should aim at the technical support of the weekly S1 simple pivot point at 1.1866. In the case that
The US Dollar edged higher by 65 pips or 0.53% against the Canadian Dollar on Tuesday. The currency pair tested the 1.2400 level during yesterday's trading session.
The British Pound has declined by 74 pips or 0.48% against the Japanese Yen on Tuesday. The currency pair tested the lower boundary of a descending channel pattern at 152.82 during Tuesday's trading session.
The Australian Dollar fell by 58 pips or 0.77% against the US Dollar on Tuesday. The currency pair was pressured lower by the 200– hour simple moving average during Tuesday's trading session.
The common European currency declined by 50 pips or 0.38% against the Japanese Yen on Tuesday. The currency pair breached the weekly pivot point at 131.64 during yesterday's trading session.
The yellow metal has continued to respect the support zone of the previously described descending triangle pattern. However, on Tuesday the 55 and 100-hour simple moving averages near 1,780.00 started to provide resistance. In the meantime, the 200-hour SMA had reached the triangle. The price has been trading between a support zone at 1,770.00/1,775.00 and a descending trend line since June
Since Monday's trading hours, the USD/JPY currency exchange rate has been fluctuating above the 110.50 mark. By large, the situation had not changed, as the rate remained between the support cluster near 110.50 and the resistance of the 55 and 100-hour simple moving averages. In the near term future, the pair was expected to get squeezed in between the resistance and
The GBP/USD bounced off the combined resistance of the upper trend line of the channel down pattern, the 100 and 200-hour simple moving averages on Monday. On Tuesday, the rate had retreated to the support of the 1.3860 level, which provided support on June 22. In the near term future, the pair was expected to fluctuate sideways until resistance approaches from
The EUR/USD failed to pass the resistance of the 200-hour simple moving average on Monday. Moreover, during the day the SMA forced the pair into a short period of trading below the support zone of 1.1925/1.1920. During the early hours of Tuesday's trading, the pair had clearly retreated below the support zone. In theory, the currency exchange rate should decline,
On Monday, the US Dollar surged by 52 pips or 0.43% against the Canadian Dollar. The currency pair was propelled higher by the 50– hour simple moving average during yesterday's trading session.
The Great Pound Sterling declined by 81 pips or 0.53% against the Japanese Yen on Monday. The currency pair was pressured by the 50– and 200– hour SMAs during yesterday's trading session.
On Monday, the Australian Dollar declined by 41 pips or 0.54% against the US Dollar. A breakout occurred through the lower boundary of an ascending channel pattern during yesterday's trading session.
The Eurozone single currency declined by 58 pips or 0.44% against the Japanese Yen on Monday. The currency pair breached the 50– and 200– hour SMAs during Monday's trading session.
Starting the week, analysts spotted a descending triangle pattern on the yellow metal's hourly candle chart. The price has been trading between a support zone at 1,770.00/1,775.00 and a descending trend line since June 21. In theory, the commodity price would trade in the pattern until a break out from it occurs. If the price breaks out to the upside, it
On Monday, the USD/JPY currency exchange rate was facing the resistance of the 55 and 100-hour simple moving averages near 110.80. In the meantime, the pair had the support of the weekly simple pivot point, the 200-hour SMA and the last week's low level in the 110.56/110.49 zone. In the near term future, the pair was expected to get squeezed in
On Monday, a channel down pattern was spotted. The pattern was formed in the aftermath of the rate passing the resistance of the 1.3940 level and testing the 1.4000 mark. In the meantime, note that the pattern's upper trend line was being strengthened by the resistance of the 200-hour simple moving average. If the pattern's resistance holds on Monday, the rate
The EUR/USD started the week's trading by finding support in the 1.1920 level and reaching the resistance of the 200-hour simple moving average, which had recently approached the rate from above. In the case that the rate passes the resistance of the 200-hour simple moving average near 1.1940, the pair would most likely extend the surge. An extension of
The US Dollar fell by 66 pips or 0.53% against the Canadian Dollar on Friday. The currency pair breached the 50- and 200- hour SMAs during Friday's trading session.
On Friday, the British Pound edged lower by 86 pips or 0.56% against the Japanese Yen. The currency pair breached the 50- and 200- hour SMAs during Friday's trading session.
The Australian Dollar declined by 30 pips or 0.39% against the US Dollar on Friday. The 50- hour simple moving average provided support for the currency pair during Friday's trading session.
On Friday, the common European currency fell by 24 pips or 0.18% against the Japanese Yen. The decline was stopped by the 200- hour simple moving average during Friday's trading session.
In the aftermath of reaching below the 1,800.00 level, the yellow metal's price has been finding support and resistance in round price levels. For example, the 1,760.00, 1,790.00 and 1,770.00 levels have been acting as support and resistance levels. In the meantime, the rate confirmed the 1,800.00 mark as resistance. In the case of a potential surge, the price would have