On Thursday morning the common European currency scored new heights against the US Dollar, as the currency pair managed to break a strong resistance cluster.
In line with expectations, the NZD/USD left the rising wedge in a south direction.
As it was assumed yesterday, the USD/CAD made a short correction and came back into the descending triangle with the subsequent breakout downwards.
Movement of the pair during today's early morning confirmed an existence of a large descending channel.
An impulse given by the ECB President Mario Draghi's speech was strong enough to push the common European currency through the last notable resistance level formed by the monthly R1 at 126.48.
On Wednesday morning the yellow metal continued to trade in the range between the support provided by the weekly S1 at 1,246 and the combined resistance of the weekly PP at 1,252.57 and the monthly PP, which is located at the 1,253 mark.
Contrary to expectations, USD/JPY was driven by moderate upside momentum that lead to the US Dollar for an appreciation up to 112.40 against the Yen on Tuesday.
The US Dollar's continuous weakness resulted in GBP/USD surging up to a three-week high at 1.2828 on Tuesday.
Just like recently all the patterns on gold were broken, everything previously created is now irrelevant on the EUR/USD charts.
The Kiwi continues to trade against the US Dollar in an ascending channel.
Contrary to expectations, the USD/CAD did not left a descending triangle downwards, but instead broke its upper trend-line.
As it was projected, a combined support level formed by the weekly PP at 0.7578 and the 200-hour SMA at 0.7582 served as a basis for a further surge of the pair, which has set the goal to reach the weekly R1 at 0.7622.
In line with expectations, the common European currency continued to surge against the Japanese Yen.
After the sudden crash of the yellow metal, which occurred on Monday, the bullions price was recovering on Tuesday.
Strong upside momentum guided USD/JPY for the whole trading session on Monday prior to reversing to the downside early on Tuesday.
On Monday, the expected upside potential up to the 1.2770 mark was halted by the monthly S1 at 1.2758 which intersected with the upper channel line.
As it was expected the common European currency found support against the US Dollar, and the currency exchange rate continues on its set part higher.
The early morning of this trading day confirmed that the NZD/USD moves in a narrow ascending channel.
Contrary to prognoses, the USD/CAD did not manage to reach the monthly R1 1.3347.
The AUD/USD made a number of unsuccessful attempts to break through the combined resistance level formed by the 200-hour SMA together with the weekly PP at 0.7578.
The EUR/JPY had finally chosen a path for future direction. In line with expectations, the rate made a breakout in the upward direction and successfully crossed the upper trend-line of a descending channel.
The yellow metal lost ground on Monday morning. However, the commodity price remained in
On Friday, a lack of strong market movers put USD/JPY in a small trading range in the 111.20/40 area. The pair was stopped several times by the 20– and 55-hour SMAs
Despite being tied down by bearish technical indicators, GBP/USD managed to push through a descending trend-line and the 200-hour SMA.