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
This week, the USD/JPY surged above the technical levels near 110.20. Namely, the rate passed the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point. In the near term future, the rate could be pushed up by the hourly simple moving averages, as the rate confirmed the 100-hour SMA as support together with the weekly simple
In the aftermath of the US Federal Reserve caused drop, the GBP/USD began a recovery, which appeared to have ended on Tuesday. Namely, the rate declined from a resistance zone just below the 1.3950 level, as soon as it was being approached from above by the 100-hour simple moving average. If the 100-hour SMA manages to continue to provide resistance, the
Since Friday, the EUR/USD currency exchange rate has been fluctuating between the support of the 1.1850 mark and the resistance of the 1.1925 level. In the near term future, the situation could change due to the approaching of the hourly simple moving averages from above. In the case that the rate passes the support of the 1.1850 mark, it could
On Monday, the US Dollar declined by 123 pips or 0.99% against the Canadian Dollar. The currency pair breached the 50– hour simple moving average during Monday's trading session.
The currency pair bounced off a support level at 151.46 on Monday. As a result, the Pound Sterling surged by 226 pips or 1.49% against the Yen during Monday's trading session.
The Australian Dollar surged by 58 pips or 0.78% against the US Dollar on Monday. The currency pair breached the 50– hour simple moving average during yesterday's trading session.
The common European currency rose by 141 pips or 1.08% against the Japanese Yen on Monday. The currency pair tested the resistance level at 131.44 during yesterday's trading session.
The US Dollar edged higher by 114 basis points or 0.92% against the Canadian Dollar on Friday. The USD/CAD currency pair tested the 1.2450 area during Friday's trading session.
Bearish momentum pressured the British Pound lower against the Japanese Yen on Friday. The GBP/JPY currency pair tested the 151.55 level during the Asian session on Monday.
Downside risks dominated the Australian Dollar against the US Dollar on Friday. As a result, the AUD/USD currency pair declined by 84 pips or 1.12% during Friday's trading session.
The Eurozone single currency drooped by 77 pips or 0.59% against the Japanese Yen on Friday. The currency pair breached the 130.00 level during the Asian session on Monday.
Upside risks dominated the US Dollar against the Canadian Dollar on Thursday. As a result, the exchange rate surged by 97 pips or 0.79% during Thursday's trading session.
The British Pound declined by 169 pips or 1.09% against the Japanese Yen on Thursday. The currency pair breached the 153.00 level during the London session on Friday.
The Australian Dollar fell by 95 pips or 1.25% against the US Dollar on Thursday. The AUD/USD currency pair breached a support level at 0.7540 during Thursday's trading session.
The common European currency declined by 173 pips or 1.30% against the Japanese Yen on Thursday. The currency pair tested the 131.00 level during Thursday's trading session.
On June 16, the US Federal Reserve published the Federal Open Market Committee's Statement, Economic Projections and Federal Funds Rate. The main news that the markets reacted to was the revelation in the Economic Projections that the central bank could hike interest rates in 2023, as it expects an end to the coronavirus and growth of inflation. The announcement caused a
On June 16, the US Federal Reserve published the Federal Open Market Committee's Statement, Economic Projections and Federal Funds Rate. The main news that the markets reacted to was the revelation in the Economic Projections that the central bank could hike interest rates in 2023, as it expects an end to the coronavirus and growth of inflation. The surge caused by