EUR/USD currency exchange rate found support in the 100-hour simple moving average on Wednesday and began a recovery. By the middle of Thursday's trading, the pair continued to be pushed up by the 100-hour SMA. In the near term future, the rate was expected to once again test the resistance of the 1.2080 level and the weekly R2 simple pivot
On Wednesday, the Bank of Canada made a rate statement, which created a long-unseen move. As a result, the US Dollar plunged by 170 pips or 1.36% against the Canadian Dollar.
During the first half of Wednesday's trading session, the British Pound declined by 78 pips or 0.51% against the Japanese Yen. However, the currency pair rebounded from a support line at 150.25 at the end of the day.
The Australian Dollar surged by 59 pips or 0.76% against the US Dollar on Wednesday. The currency pair tested a resistance level at 0.7760 during yesterday's trading session.
The common European currency rose by 42 pips or 0.32% against the Japanese Yen on Wednesday. The surge was stopped by the 50– hour simple moving average during yesterday's trading session.
As forecast, the yellow metal's price has once again approached and tested the resistance of the 1,790.00 level. Namely, the price bounced off the resistance even before it approached it. During the early hours of Wednesday's trading, the price had retraced to the support of the 55-hour simple moving average. In the near term future, the price was either going to
During Wednesday's Asian trading session, the USD/JPY managed to pierce the support of the 108.00 level. However, it did not result in a larger decline, as almost immediately the rate reversed from the support of the weekly S2 simple pivot point at 107.88. In the meantime, the currency exchange rate appeared to still find resistance in the 55-hour simple moving
During the European night and Asian trading hours, the GBP/USD currency exchange rate retreated below the support of the 55-hour simple moving average. Afterwards, up to the middle of the day, the SMA was providing the pair with resistance. If the rate bounced off properly from the resistance of the 55-hour simple moving average, it would most likely look for support
By the middle of Wednesday's European trading hours, the EUR/USD currency exchange rate had declined to the support of the 100-hour simple moving average and the 1.2000 mark. In the near term future, if the rate passes the support of the 1.2000 level, it would look for support in the March and April high level zone that surrounds the
Upside risks dominated the US Dollar against the Canadian Dollar on Tuesday. The USD/CAD currency pair edged higher by 137 pips or 1.10% during yesterday's trading session.
Downside risks dominated the British Pound against the Japanese Yen on Tuesday. The GBP/JPY exchange rate declined by 130 pips or 0.86% during Tuesday's trading session.
The Australian Dollar fell by 95 pips or 1.22% against the US Dollar on Tuesday. A breakout through the lower boundary of an ascending channel occurred during yesterday's trading session.
The single European currency plummeted by 91 pips or 0.69% against the Japanese Yen on Tuesday. The currency pair breached the 50– and 200– hour SMAs during Tuesday's trading session.
The resistance of the 1,790.00 level was enough for the metal's price to decline and break the ascending channel up pattern, which has guided the rate since April 14. In addition, the price had passed the support of the 55-hour SMA before finding support in the 1,765.00 level. During the second half of Tuesday's GMT trading hours, the price was expected
The support of the 108.00 level held out during three attempts of the pair to pass it. On Tuesday, the USD/JPY rate surged above the levels near 108.35 and tested the resistance of the 55-hour simple moving average near 108.50. In the near term future, another test of the support of the 108.00 level was expected to occur, as during the
In the aftermath of passing the 1.4000 mark, the GBP/USD found resistance in the 1.4010 level. On Tuesday, a retracement back down was taking place. It was spotted at mid-day that the 1.3950 mark was providing support. If the 1.3950 provides enough support for a renewal of the surge, the pair should test the 1.4000 mark, the mentioned 1.4010 level and
The surge of the EUR/USD eventually reached the resistance of the 1.2080 mark and the weekly R2 simple pivot point at 1.2075. Afterwards, the rate declined and reached the support of the weekly R1 simple pivot point at 1.2032. In the near term future, it was expected that the pair could test the resistance of the 1.2080 mark. If the 1.2080
The US Dollar surged by 68 pips or 0.55% against the Canadian Dollar on Monday. The currency pair tested the upper line of a descending channel pattern during Monday's trading session.
The British Pound has edged higher by 195 pips or 1.30% against the Japanese Yen since yesterday's trading session. The currency pair breached the weekly R2 at 151.69 on Tuesday morning.
Upside risks have dominated the Australian Dollar against the US Dollar since yesterday's trading session. The AUD/USD currency pair has surged by 96 pips or 1.25% during this short period.
The common European currency has surged by 80 pips or 0.62% against the Japanese Yen since yesterday's trading session. Bullish traders were unable to break the 130.54 level.
By the middle of Monday's European trading hours, the yellow metal's price had reached the 1,790.00 level. Since passing the 1,750.00 level on Thursday, the price had been gradually climbing. In the near term future, the surge was expected to test the resistance of the 1,800.00 mark. If the metal manages to pass the 1,800.00 level, the price could extend its
On Monday morning, the USD/JPY dropped below the support of the 108.63 level, which kept the rate up during the last week. This resulted in a sharp move down that by the middle of Monday's trading reached the 108.00 mark. In the near term future, the rate was expected to consolidate by retracing back up to the resistance levels near 108.35
On Monday, the GBP/USD started the week with an extension of Friday's surge. Namely, the rate confirmed previous resistance near 1.3800 as support and resumed the surge that started just before mid-day on Friday. In the near term future, the rate was expected to continue to surge, as it had passed the resistance near 1.3900. Next target for a surge was