The EUR/USD broke the channel down pattern due to the release of US monthly employment data causing a drop of the US Dollar's value. The following surge eventually stopped at 1.1040. On Monday, the rate was declining and had reached the combined support of the 50 and 100-hour simple moving averages near 1.0970. A decline below 1.0970 might look for
The price for gold remains above the 1,930.50/1,932.10 range. Meanwhile, the pair is being approached by the resistance of the 50-hour simple moving average. In general, previous scenarios are relevant. In the case of the metal passing below the support zone at 1,930.50/1,932.10 the descent could be slowed down by the lower trend line of a broad channel down pattern,
The rate has ended its decline, before reaching the 142.00 level. On Friday morning, the pair recovered and tested the combined resistance of the 50 and 100-hour simple moving averages and the 142.70/143.10 range. A move above 143.00 level could be slowed down by the 143.50 and 144.00 levels. Note that the 144.00 mark is strengthened by the weekly
In the aftermath of the Bank of England rate hike, the Pound recovered against the US Dollar. The recovery appears to have been stopped by the weekly S1 simple pivot point at 1.2740. By mid-Friday, the pair was trading just above the support of the 1.2700 mark. A move below 1.2700 could result in the pair once again looking for
The currency pair has managed to pass the resistance of the 1.0935/1.0945 range and the 50-hour simple moving average. However, the 1.0960 level acted as resistance. As the rate approached the upper trend line of the descending channel pattern, a decline started, which was looking for support in the 1.0935/1.0945 zone. A move below 1.0935 could look for support in
The Bank of England has just now increased its Official Bank Rate from 5.00% up to 5.25%. The move was expected by the financial markets. As a result of the policy change the value of the Pound initially reacted with a downwards move, before returning to previous levels. The members of the monetary policy committee voted as follows. Eight
The price for gold has encountered resistance in the combination of the 50 and 100-hour simple moving averages near 1,955.00. The event combined with the broader USD strengthening on Wednesday has caused a decline of the commodity price. By mid-Thursday, the metal had reached the support zone at 1,930.50/1,932.10. In the case of the metal passing below the support zone
The USD/JPY has continued to surge, despite slowing down. On Thursday, the currency pair passed above the 143.50 level, before retracing back down and looking for support. If the rate finds support in the 142.70/143.10 range, it could resume its surge and aim at the combined resistance of the 144.00 mark and the weekly R2 simple pivot point at 144.09.
The EUR/USD has declined below the support of the weekly S1 simple pivot point at 1.0920. Next target for the decline appeared to be the 1.0900 mark. In the meantime, the rate appeared to be confirming the 1.0935/1.0945 range as resistance. A decline below 1.0900 mark could eventually reach the support of the July low levels at 1.0835/1.0840, the weekly
The price for gold reversed from the 1,972.40 level on Monday. There is no technical reason for the reversal. However, it can be attributed to a broader strengthening of the US Dollar. The decline eventually reached below the last week's low level and the 1,942.00 level. It appeared on Tuesday, that the metal is set to look for support
The USD/JPY has broken the resistance of the 143.00 mark. The rate had reached the 143.50 level by the second part of Tuesday's European trading. A continuation of the ongoing USD surge against the Japanese Yen is expected to face resistance in the 144.00 mark and the weekly R2 simple pivot point at 144.09. Higher above, note the 145.00
The GBP/USD ended its sideways consolidation with a decline. By mid-Tuesday, the decline had reached below the 1.2750 level and had almost touched the weekly S1 simple pivot point at 1.2740. In the case of a decline below 1.2740, the rate is expected to look for support in two zones. There are support and resistance zones at 1.2722/1.2727 and
The EUR/USD has bounced off the combined resistance of the weekly simple pivot point and the 100-hour simple moving average, before reaching the 1.1050 level. The following decline has reached below the 1.0960 level during mid-Tuesday trading. An extension of the ongoing decline is highly likely going to look for support in the 1.0935/1.0950 range, before approaching the weekly S1
The price of Gold plummeted last week due to the US Federal Reserve rate hike. The rate declined as low as 1,942.50/1,943.40, where it found support. Since the event, the price has managed to break the 50, 100 and 200-hour simple moving averages. At mid-Monday, the commodity had reached above 1,970.00. A continuation of the commodity's recovery could aim
The USD/JPY currency pair has reached the resistance of the 142.70/143.10 range. In addition, it is assumed that the weekly R1 is also acting as resistance. Meanwhile, mid-Monday, support was found in the 142.00 level. A potential decline below 142.00 could look for support in the 141.55/141.90 range, prior to declining to the combined support of the 50, 100
The GBP/USD currency exchange rate has been trading around the 1.2850 mark since mid-Friday. Support is found in the 1.2830/1.2840 range and the 50-hour simple moving average. Resistance is provided by the 1.2870/1.2890 zone, which is strengthened by the weekly simple pivot point at 1.2868 and the 100 and 200-hour simple moving averages. A move above the 1.2890 and 1.2900
The EUR/USD has surged above the 1.1000 mark. On Monday, the pair traded in the 1.1005/1.1045 range. It was observed to be ignoring the 50 and 100-hour simple moving averages, the weekly simple pivot point at 1.1035 and the support and resistance range at 1.1020/1.1040. A potential decline of the rate below 1.1000 might look for support in the support
The Federal Reserve hiked just 0.25% that were expected. Moreover, follow up comments by the head of the Federal Reserve have been perceived by the markets as dovish for the USD. Namely, the US Dollar's value and demand for it will not grow due to monetary tightening, as the Fed remains indecisive and "data dependant." The decline of USD boosted
The Federal Reserve hiked just 0.25% that were expected. Moreover, follow up comments by the head of the Federal Reserve have been perceived by the markets as dovish for the USD. Namely, the US Dollar's value and demand for it will not grow due to monetary tightening, as the Fed remains indecisive and "data dependant." The weakness of the US
The Federal Reserve hiked just 0.25% that were expected. Moreover, follow up comments by the head of the Federal Reserve have been perceived by the markets as dovish for the USD. Namely, the US Dollar's value and demand for it will not grow due to monetary tightening, as the Fed remains indecisive and "data dependant." The GBP/USD reacted to the
The Federal Reserve hiked just 0.25% that were expected. Moreover, follow up comments by the head of the Federal Reserve have been perceived by the markets as dovish for the USD. Namely, the US Dollar's value and demand for it will not grow due to monetary tightening, as the Fed remains indecisive and "data dependant." In the aftermath of the
Today, all attention will be on the US Federal Reserve Rate announcement at 18:00 GMT. The event is going to set the base rate on the USD. A hike is expected to increase the USD demand and value, but no hike would decrease it. Prior to the event, the price for gold extended the recovery that had started after
Today, all attention will be on the US Federal Reserve Rate announcement at 18:00 GMT. The event is going to set the base rate on the USD. A hike is expected to increase the USD demand and value, but no hike would decrease it. Prior to the event, the USD/JPY declined below the 141.00 and 140.50 levels. It appeared
Today, all attention will be on the US Federal Reserve Rate announcement at 18:00 GMT. The event is going to set the base rate on the USD. A hike is expected to increase the USD demand and value, but no hike would decrease it. Prior to the event, the GBP/USD retraced back up above 1.2900 and broke resistance levels.