On Thursday, the price for gold found support in the 1,840.90/1,842.15 zone and started a recovery. During the day's trading, the price was encountering resistance in the 50 and 100-hour simple moving averages. On Friday morning, the pair reached above the moving averages and, at the time of writing, was surging. A continuation of the commodity price is expected to encounter
The decline, which was caused by the Governor of the Bank of Japan on Thursday, found support in the 126.55/126.60 range. Afterwards, a recovery to the 127.40 level occurred. On Friday morning, the rate fluctuated around the 127.00 level, as support and resistance was being provided by round exchange rate levels. It appeared that the pair was still looking for
On Thursday, the GBP/USD rate continued to find support in the 1.2555/1.2560 zone and resistance in the May high level zone at 1.2600/1.2640. At midnight to Friday GMT timezone, the May high level zone failed to hold and the pair surged to the 1.2665 level, which is a new monthly high. However, after reaching the high level, the pair appeared
The rate eventually found enough support to surge above the weekly R2 simple pivot point at 1.0737 and the 1.0750 mark. On Friday morning, the currency pair appeared to have encountered minor resistance in the 1.0765 level. A continuation of the recovery of the Euro against the US Dollar could encounter resistance in the 1.0800 and 1.0850 levels, before
At mid-day on Thursday, the USD/CAD currency pair declined below the 1.2800 level. The 1.2800 was acting as support to the currency pair, as it made attempts at passing the resistance of the 1.2855/1.2885. If the rate declines, ti might look for support in the 1.2760 and 1.2780 levels, which acted as support during the early part of this week.
The GBP/JPY currency exchange rate has confirmed that a resistance zone exists at 160.70/161.00. Meanwhile, support is being found in the 159.00 and 158.50 levels. A surge of the Pound against the Japanese Yen would have to pass above the 160.70/161.00 zone, before testing the resistance of the 161.50 mark and the weekly R1 simple pivot point at 161.88. Meanwhile, a
The AUD/USD has traded between the support of the 0.7040 and 0.7060 levels and the resistance of the 0.7100 and 0.7110 levels. A potential decline is set to look for support first in the 0.7060 level and afterwards the 0.7040 mark together with the 200-hour simple moving average. Further below, note the 0.7000 mark and the zone above it. In addition,
At midnight to Thursday, the EUR/JPY currency pair tested the resistance zone at 136.50/136.80. The rate bounced off the resistance and declined to the 134.25 level, before a recovery started. During the mid-day hours, another test of the 136.50/136.80 zone was highly likely. If the rate manages to reach above the 136.80 level, the 137.00 and 137.50 levels could act
Despite initially holding, the lower trend line of the post May 16 channel up pattern failed to provide enough support on Thursday morning. By the middle of the day's European trading hours, the price for gold had not only passed below the trend line, but also confirmed it as resistance. The trend line was acting as resistance together with the
On Thursday morning, the USD/JPY had failed at its second attempt at passing the 127.50 level and a resistance zone, which surrounds it, as the head of the Bank of Japan Haruhiko Kuroda commented on monetary policy and caused a surge of the Japanese Yen. The Governor of the Bank of Japan stated that the Japanese central bank could
The GBP/USD ended its sideways trading by breaking the resistance zone at 1.2555/1.2560. Afterwards, the pair tested the resistance of the May high level zone at 1.2600/1.2640. By the middle of Thursday's European trading hours, the pair had returned to the 1.2555/1.2560 level and appeared to be confirming it as support. If the pair declines below 1.2555 and 1.2550, the 50
On Wednesday, the support of the 1.0625/1.0640 range held and a surge occurred, as the 100-hour simple moving average approached the pair from below. However, on midnight to Thursday the pair encountered resistance in the 1.0700 level, despite shortly reaching above it. A resumption of the surge of the Euro against the US Dollar is expected to test the
The price for gold reached the 1,870.00 level during Tuesday's trading hours. Afterwards, a decline started. During the early hours of Wednesday's US trading, the price was looking for support in the 1,850.00 level. Meanwhile, Dukascopy Analytics marked on the chart the channel up pattern, which has guided the commodity price from the May 16 low level. If the commodity price
On Tuesday, the decline of the USD/JPY pair found support in the 126.50 level. Namely, support was provided by the 126.37/126.50 zone. By the start of Wednesday's US trading hours, the pair had reached the 50-hour simple moving average, which acted as resistance. However, at 14:30 GMT, the pair broke the resistance and started a surge. If the pair continues to
The markets appear to have taken in the information about the UK market, which was given by the UK PMIs and caused the drop on Tuesday. It is assumed because the GBP/USD has revealed support and resistance zones. Support zone is located at 1.2472/1.2480. Meanwhile, resistance is at 1.2555/1.2560. If the Pound recovers against the US Dollar, the currency pair would
The EUR/USD eventually bounced off the resistance of the 1.0750 mark and by the middle of the day's trading, the pair had reached below the support line of the channel up pattern, which had guided the surge since mid-May. However, support was almost immediately found in the 1.0625/1.0640 range, the 100-hour simple moving average and the weekly R1 simple
On Tuesday, the USD/CAD jumped and reached the 1.2875 level. Afterwards, a decline back to the 1.2800 mark and the 50-hour simple moving average occurred. On Wednesday, the currency pair recovered and approached the 200-hour simple moving average near 1.2845. If the US Dollar recovers against the Canadian Dollar, the rate would have to pass the resistance of the weekly simple
The decline, which was caused by the UK PMI data release, found support in the 158.00 mark. The event was followed by a recovery up tot he resistance of the weekly simple pivot point at 159.65. During Wednesday's early European trading hours, the pair bounced off the resistance zone and appeared to be heading lower. The decline of the GBP/JPY could
The 0.7060 provided the AUD/USD with support, which was enough to cause a surge and additional testing of the resistance of the weekly R1 simple pivot point at 0.7117. On Wednesday morning, the pair bounced off the resistance level and declined to the 100-hour simple moving average near 0.7070. A move below the 0.7070 and 0.7060 levels could result in a
On Wednesday morning, the EUR/JPY currency exchange rate declined below the support of the 50 and 100-hour simple moving averages and reached the 135.50 level. A move below the 135.50 level could look for support in the 200-hour simple moving average near 135.30 and the weekly simple pivot point at 135.14. Further below, take into account the late May
The price for gold has found support in the 50-hour simple moving average. By the middle of Tuesday's trading hours, the SMA had stopped three declines of the metal's price. If the 50-hour simple moving average continues to push the price up, the 1,865.00 level could act as resistance, before testing the resistance of other round price levels. On the other
The USD/JPY encountered resistance in the 100-hour simple moving average and the 128.00 mark at midnight to Tuesday. During the first half of Tuesday's trading hours, the pair had declined and approached the support of the 127.00 level. In the case that the pair reaches below the 127.00 mark, the weekly S1 simple pivot point at 126.60 might act as support.
On Tuesday, at 08:30 GMT, the GBP/USD plummeted because of the publication of the Markit Flash Manufacturing and Services Purchasing Managers Index survey results. The Pound lost value due to the revelation that the Services PMI was at 51.8 instead of the forecast 56.9. At mid-day, the rate's decline had paused, as the pair found support in the 100-hour simple
The surge of the Euro, which was caused by the ECB, continued on into Tuesday's trading. During the early hours of the day, the EUR/USD reached the resistance of the weekly R2 simple pivot point at 1.0737. A move above the pivot point would highly likely encounter resistance in the 1.0750 and 1.0800 levels, before reaching the upper trend line