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Since the middle of Monday's European trading, the commodity price has continued to be supported by the 200-hour simple moving average. In the meantime, the price almost ignored the 55 and 100-hour simple moving averages. In regards to the near term future, the 200-hour SMA could force the price into testing the resistance of the 1,745.50/1,747.40 zone. If the zone fails
The USD/JPY managed to break the resistance line, which guided it down since early February 18. However, the following surge was almost immediately stopped by the resistance of the 55-hour simple moving average. At mid-day on Tuesday, the USD/JPY bounced off the SMA and sharply declined below the support of the 108.75/108.80 support zone, the weekly S1 simple pivot point
During the prior weeks, the GBP/USD traded in channel down and channel up patterns that represented the rate's larger scale sideways trading between the 1.3800 and 1.4000 mark. Most recently, the rate was in a channel down pattern that had guided the rate to a support zone near 1.3820. The zone provided enough support for the pair to break the
Despite piercing the resistance of the 1.1940 the EUR/USD failed to reach the 1.1950 mark and started a decline. This attempt provided the opportunity to adjust the width of the resistance zone that surrounds the 1.1940 level. By the middle of Tuesday's European trading hours, the currency exchange rate had reached the support of the 1.1875/1.1885 zone. Near term
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The yellow metal's surge, which was started by the support of the 200-hour SMA on Thursday, eventually found resistance. Namely, the 1,745.50/1,747.40 zone provided resistance. By the middle of Monday's trading, the commodity price had retraced down to the support 200-hour simple moving average. If the SMA manages to once again cause a surge, the price could again test the resistance
The support zone of the 108.75/108.80 level failed, as the USD/JPY clearly passed it on Friday and afterwards began to ignore it. In the meantime, it was spotted on Monday that the 108.60 level provided the rate with support even as early as Thursday. In addition, a descending trend line was added to the chart. The trend line has kept the
The support of the 1.3900 level eventually failed to keep the GBP/USD up on Friday. After the support failed, the rate began a decline, which found support in the 1.3820 level. A new support zone of this level and the March 16 low level has been drawn. In addition, a channel down pattern has been spotted. The pattern captures the
During Monday's early trading hours, the EUR/USD found support in the 1.1875/1.1885 zone and began a recovery. By the middle of the day's GMT trading hours, the pair had reached above a technical resistance cluster at 1.1910/1.1930. Next up, the rate faced a resistance zone that was located at 1.1935/1.1940. If this resistance cluster holds, the pair could look
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At mid-day on Thursday, the yellow metal's price found support in the 200-hour simple moving average and the 1,720.00 level. Afterwards, a surge followed. By the start of Friday's European trading hours, the metal had passed the resistance of the 55 and 100-hour SMAs and was testing the 1,740.00 mark. If the 1,740.00 level fails to provide resistance, the bullion should
Throughout this week, the USD/JPY has been trading with high volatility. However, it remained almost sideways, as the rate traded between the resistance zone of 109.25/109.35 and support zone of 108.80/108.75. On Friday morning, the situation had not changed and previous forecasts remained valid. If the pair eventually passes the resistance of the 109.25/109.35 zone, it would first test the resistance