As it was expected, the currency exchange rate reached and bounced off from the monthly S1 located at the 108.82 level.
The British Pound is continuing to lose value against the US Dollar in a four day long descending triangle pattern.
In line with expectations, the common European currency continued to advance against the American Dollar until the pair has encountered a combined resistance level set up by the updated weekly PP and the 200-hour SMA.
In accordance with expectations, the currency exchange rate continued to gradually slide to the downside until it encountered the 0.7279 support level, which was additionally backed up by the 55- and 100-hour SMAs plus the monthly S1 at 0.7294.
In line with expectations, the currency exchange rate tried to rise towards the 1.2711 mark that represents a point from which its Wednesday downfall has started.
As it was expected, the currency exchange rate failed to bypass a combined support level set up by the weekly PP at 0.7895 in conjunction with the 200-, 100- and 55-hour SMAs.
The ongoing fall of the currency exchange rate suggests that it is, indeed, moving in larger descending channel.
The yellow metal's price movements in the past trading session have become increasingly easy to forecast. Moreover, the future also seems clear.
Due to the previous forecasts failing, a review of the USD/JPY pair has been conducted. It was revealed that the pair remains on a large scale in a descending channel.
A review of the situation on the GBP/USD pair has been done. As a result of that, various new pieces of information have been discovered.
The common European currency for the first time during the week did not follow in accordance with the forecast against the US Dollar on Thursday.
In line with expectations, the currency exchange rate managed to restore lost positions and reached the 0.7279 mark.
The USD/CAD currency exchange rate had a quite turbulent Wednesday, as the Greenback depreciated against the Loonie by 1.09% and, in the result, broke through the southern boundaries of a medium-term and short-term channels.
Fortunately for the Aussie, the poor US housing data that was released yesterday gave the currency pair a necessary impulse to break through the 200-hour SMA, the weekly PP at 0.7895 and even slightly overstep the weekly R1 at 0.7951.
In second half of the previous trading session the currency exchange rate made an unexpected turn around near the 130.05 mark and started to fall.
The yellow metal bounced off the support cluster just below the 1,270 mark, as it was expected on Thursday morning.
The EUR/USD currency exchange rate continues to trade in accordance with the medium term descending channel pattern, which is heading towards a large scale pattern's support line.
After reaching the 111.00 mark early on Wednesday, the US Dollar plunged for the remaining session.
Despite edging higher in the wake of solid earnings data, the Pound failed to sustain its upward momentum on Wednesday and returned near the 1.2850 mark—a level already proven to be a strong support.
Despite the 32-pips appreciation of the Greenback that was caused by a surprising release of information on the US Retail Sales, the currency rate managed to stay within an active descending channel.
By the moment, it is not very clear, whether yesterday's overstep beyond the 1.2748 level represents a correction or a sign of continuation of the surge.
In line with expectations, the Greenback failed to pull the pair below the 0.7813 level. After reaching this minimum point, the currency rate started to move in the opposite direction.
As it was expected, the EUR/JPY currency rate has successfully bypass a combined resistance level formed by the 200-hour SMA and the monthly PP at 129.78, thus continuing to move in an ascending channel.
The bullion reached the targeted 1,270 mark, as the better than expected fundamental data was released during the middle of Tuesday's trading session.