The USD/CAD currency pair did not properly reach the support of the 1.2850 level, before starting an upwards move. At mid-day on Thursday, the pair had reached back up to the 1.2930 level. In regards to the near term future, a potential extension of the recovery would face resistance at the 1.2950 mark. Moreover, the 100-hour simple moving average might
Since the middle of Wednesday's trading hours, the GBP/JPY has been trading between the resistance of the 166.00 level and the support of the 165.10 level. Meanwhile, the rate was ignoring the 50 and 100-hour simple moving averages and the weekly R1 simple pivot point at 165.71. If the rate ends the sideways trading with a surge above 166.00, the recent
The AUD/USD currency pairs surge did not reach the resistance levels near 0.6950, as it declined during the second part on Wednesday. During the decline, the pair ignored previous high levels, the 0.6900 mark, the 50-hour simple moving average and the weekly R1 simple pivot point at 0.6868. It appears that the pair is unlikely to react to technical levels
During the second part of Wednesday's trading, the EUR/JPY pair pierced the lower trend line of the channel up pattern. In general, the surge is over due to a simple reason. The European Central Bank is set to announced its future monetary policy at 12:15 GMT on Thursday. The event is set to cause a major adjustment of the
During the second part of Wednesday's trading hours, the price for gold declined below the 1,697.40/1,700.70 zone. During the first half of Thursday's trading, the price was steadily declining, as by 09:00 GMT the 1,685.00 level was reached. In the case of the commodity price continuing to decline, gold could eventually reach the 2021 low level at 1,670.50. However, take into
During the early hours of Thursday's European trading, the USD/JPY currency pair reached above the 138.50 mark, as it continued its recovery that was started on Tuesday. The next target for the recovery might be the 139.00 level. Above the round exchange rate level note the 2022 high level zone at 139.35/139.38. However, a possible decline of the US Dollar against the
The resistance zone, which is located near the 1.2050 mark, has held and caused a decline to the range at 1.1960/1.1970 and the 2019 low level. However, during the early hours of Thursday's European trading hours the rate appeared to be passing below the support zone. A potential extension of the decline of the Pound against the US Dollar might look
The resistance of the 1.2070/1.2080 zone managed to hold and cause a decline, which eventually resulted in the EUR/USD declining below the 1.0200 mark. In general, on Thursday, technical analysis is set to be worthless, as today at 12:15 GMT the European Central Bank is set to hike its base interest rate and make a monetary policy statement. The
The US Dollar has continued to decline against the Canadian Dollar. However, the pair has not plummeted by a lot, as the 1.2850 level is still acting as support. Meanwhile, resistance is provided by the weekly S1 simple pivot point at 1.2898 and the 1.2900 mark. An extension of the ongoing decline would have to pass the 1.2850 level, before reaching
On Tuesday, the support of the 50-hour simple moving average was enough to cause a surge of the GBP/JPY above the previous high level, as the rate touched the 166.25 level. During early Wednesday's trading, the currency pair had remained near 166.00. Meanwhile, the 50-hour simple moving average was approaching the rate from below. In the case of the moving
Since Tuesday, the AUD/USD currency pair has managed to reach above the 0.6900 level and shortly traded above 0.6920. In general, the pair has moved only slightly, which has resulted in the previous forecasts remaining intact. If the recovery of the Australian Dollar continues, the currency pair could encounter resistance in the weekly R2 simple pivot point at 0.6948 and the
During the first part of Wednesday's European trading hours, the EUR/JPY broke the resistance of the weekly R2 simple pivot point at 141.73 and almost reached the 142.00 mark. However, prior to properly touching the round exchange rate level, the pair bounced off the 141.94 level and declined below 141.50. If the Euro resumes its recovery against the Japanese Yen,
Throughout this week, the price for gold has continued to trade near the 1,710.00 level throughout this week. The future scenario forecasts remain unchanged. In the case of a continuous recovery of the commodity price, the metal might encounter resistance in the combination of the 1,730.00 mark, the 1,732.10 level and the 200-hour simple moving average. Higher above, take into account
The USD/JPY eventually passed below the support zone at 137.70/137.90. However, support was almost immediately found in the combination of the 137.50 level and the 200-hour simple moving average. The event resulted in a recovery above 138.00. During the early hours of Wednesday's trading hours, the pair was fluctuating between the weekly simple pivot point at 137.90 and the resistance
Since the middle of Tuesday's trading hours, the currency pair has been testing a resistance zone at 1.2035/1.2055. In the meantime, minor support appeared to be found in the 1.2000 mark. If the Pound manages to break the resistance zone of 1.2035/1.2055 against the US Dollar, the pair might encounter resistance in the 1.2100 and 1.2150 levels, prior to reaching the
The EUR/USD managed to reach above the 1.0190/1.0220 zone and the 1.2050 mark. Resistance was eventually found in the 1.2070/1.2080 zone. Afterwards, a decline to the 1.2020 level occurred and the previous resistance became support. During early Wednesday's trading, the pair was fluctuating between the 1.0220 and 1.0250 levels. If the rate resumes its surge, it would face the resistance
During the early hours of July 19 trading, the USD/CAD currency pair declined below the 1.2950 mark. In the near term future, the pair could look for support in the combination of the 1.2900 level and the weekly S1 simple pivot point at 1.2898. Further below, take into account the low level zone at 1.2820/1.2835. On the other hand, a surge
On Monday, July 18, the GBP/JPY currency pair reached above the 165.00 mark and even pierced the 166.00 level. However, a consolidating decline followed the surge. On Tuesday morning, the currency pair had found support in the 50-hour simple moving average near 164.80. If the Pound resumes its surge against the Japanese Yen, the currency rate might once again test the
On July 19, the Australian Dollar surged above the 0.6895 level against the US Dollar. The 0.6895 level marks the July high level. Namely, the currency rate had recovered its recent losses. If the recovery of the Australian Dollar continues, the currency pair could encounter resistance in the weekly R2 simple pivot point at 0.6948 and the 0.6950 level. Higher above,
Since July 13, the Euro has been recovering, compared to the Japanese Yen. On Tuesday, July 19, the currency pair reached above the 141.00 mark. If the pair continues to surge, resistance might be encountered in the 141.50 mark, the weekly R1 simple pivot point at 141.73 and the upper trend line of a channel up pattern. On the
During Monday's trading, the price for an ounce of gold made an attempt to approach the 1,725.00 mark and failed. By the start of Tuesday's trading, the currency exchange rate was located near the 1,705.00/1,710.00 zone. In general, previous forecasts remain valid. In the case of a continuous recovery of the commodity price, the metal might encounter resistance in the combination
On Tuesday morning, the USD/JPY currency exchange rate was looking for support in the 137.70/137.90 zone. The rate had been testing the zone since early Monday's trading. Due to that reason, the future forecast scenarios remained unchanged. A resumption of the USD surge against the Japanese Yen is expected to encounter minor resistance in the 138.50 mark and the 50 and
The GBP/USD broke the resistance zone at 1.1960/1.1970 and the weekly R1 simple pivot point at 1.2012. However, the surge did not reach the 1.2050 mark, as it stopped and reversed near 1.2030. On Tuesday morning, the retracement down found support at 1.1925. If the Pound declines against the US Dollar, the rate might look for support in the combination of
On Monday, the EUR/USD currency pair reached the resistance zone at 1.0190/1.0220 and the weekly R1 simple pivot point at 1.0193. However, it can be spotted that it was the 1.0200 mark, which stopped and reversed the surge of the pair. The event resulted in the rate declining and finding support in the 1.01200 level. During the early hours