Since the US Consumer Price Index release volatility decreased, the price for gold has been fluctuating between the 1,850.00 and 1,858.50 level. However, by the middle of Thursday's European trading hours, the price slightly declined, as it reached and found support at 1,845.00. A move below the 1,845.00 level could encounter support in the CPI volatility low level at 1,835.00 and
In the aftermath of the US Consumer Price Index release, risk off sentiment dominated in the markets, which caused a surge of the value of the Japanese Yen against other currencies. By the middle of Thursday's European trading, on the USD//JPY charts it had resulted in a decline to the 128.50 level. In the case that the 128.50 level acts
In the aftermath of the US CPI release volatility, the GBP/USD eventually declined. Moreover, on Thursday morning, the UK Preliminary quarterly GDP was revealed to have increased by 0.80% instead of the expected 1.00%. By the middle of the day's European trading hours, the currency rate had reached below the 1.2200 mark and the weekly S1 simple pivot point
The EUR/USD currency exchange rate eventually declined and on Thursday morning passed below the 1.0500 mark and the support zone at 1.0472/1.0492. By the middle of the day's trading the pair appeared to be heading to the 1.0400 level and the weekly S1 simple pivot point at 1.0397. If the Euro declines against the US Dollar below the 1.0400
The volatility of the US Consumer Price Index confirmed previous high and low level zones as resistance and support. Namely, support is located at 1.2910/1.2925 and resistance is at 1.3037/1.3053. On Thursday morning, the pair was testing the resistance zone. A move above the resistance zone would result in a surge that might encounter resistance in the 1.3100 and 1.3150
The all out market sell off, which started at mid-day on Wednesday due to the US CPI release, also impacted the GBP/JPY rate. Namely, the risk off sentiment caused a surge of the Japanese Yen. On the GBP/JPY charts it resulted in a passing of the support zone at 160.08/160.43. Afterwards, a sharp decline started. By 08:00 GMT, the GBP/JPY
The carnage caused by the US Consumer Price Index release found resistance in the 0.7050 mark and support was still provided by the 0.6910/0.6920. However, as the volatility returned to normal, the pair started a decline. By the start of Thursday's European trading hours, the currency exchange rate had reached below the 0.6900 mark and the weekly S2 simple pivot
On Thursday morning, the EUR/JPY currency exchange rate plummeted. The pair passed the support of the weekly S1 and S2 levels at 135.80 and 135.00 and the support zone at 134.80/135.00. Afterwards, the rate found support in the April low level zone at 134.28/134.43. If the rate reaches below the April low level zone, the rate is expected to look
Already prior to the US Consumer Price Index release on Wednesday at 12:30 GMT, the price for hold broke the descending channel pattern by surging and passing the pattern's upper trend line. Afterwards, the price was testing the resistance of the 1,850.60/1,854.50 zone. During the CPI release, the price plummeted, before recovering and shortly trading above 1,854.50. If the price for
On Wednesday, the United States Labour Statistics Bureau released the monthly US Consumer Price Index and Core Consumer Price Index data for April. The markets expected the data for clues in regards to the effectiveness of the first US Federal Reserve Rate hike done on March 15. At 12:30 GMT, the CPI and Core CPI came in at 0.3% and
At mid-day on Wednesday, the US Consumer Price Index caused a drop of the GBP/USD, which shortly reached below the 1.2300 mark. However, the rate almost immediately recovered to trade back near the 1.2350 level. If the pair clearly declines below 1.2300 the pair could find support in the 2020 July low level at 1.2260. Further below, support is highly likely
On Wednesday, the United States Labour Statistics Bureau released the monthly US Consumer Price Index and Core Consumer Price Index data for April. The markets expected the data for clues in regards to the effectiveness of the first US Federal Reserve Rate hike done on March 15. At 12:30 GMT, the CPI and Core CPI came in at 0.3%
The 1.3050 level acted as resistance on Tuesday to the USD/CAD currency pair. The resistance was enough to force the rate into sideways trading. On Wednesday morning, the rate passed below the lower trend line of the channel up pattern, the 50-hour simple moving average and the 1.3000 mark. A continuation of the decline of the US Dollar against the Loonie
Since early Tuesday's trading hours, the GBP/JPY has been trading between the support zone at 160.08/160.43 and the resistance of the 50-hour simple moving average near 160.80. A move below the support zone could almost immediately find support in the 160.00 mark. Further below, take into account the weekly S1 simple pivot point at 159.58, the 159.50 and 159.00 levels. Meanwhile,
Prior to the release of the US Consumer Price Index on Wednesday at 12:30 GMT, the AUD/USD currency pair traded sideways. The sideways trading took place from the start of Tuesday up to the middle of Wednesday's trading. Support was being provided by the 0.6910/0.6920 zone and resistance was located at 0.6980/0.6990. If the currency pair passes above the resistance zone
On Wednesday morning, the EUR/JPY currency exchange rate ascended to the 137.50 mark and bounced off it to retreat to the support of the 137.05/137.12 zone. If the pair declines below the 137.05/137.12 zone, the rate could look for support in the weekly S1 simple pivot point at 136.72, before reaching the 136.50/136.60 zone. Meanwhile, take into account that the
As forecast on Monday, the price for gold has reached the support zone at 1,850.60/1,854.50. The support zone held and caused a retracement back up to the 1,865.00 level and the upper trend line of the descending channel pattern. If the price recovers and breaks the descending pattern, resistance could be encountered not only in round price levels, but also the
Despite reaching below the 130.00 mark, the USD/JPY did not decline during the first half of Tuesday's trading hours. The rate revealed a support zone at 129.78/129.86. Meanwhile, resistance was being provided by the 130.50/130.58 zone and the 50-hour simple moving average. The sideways trading could be explained with the markets expecting the upcoming US Consumer Price Index data on
Since the middle of Monday's trading, the GBP/USD currency pair has remained almost flat, as it trades in the 1.2300/1.2375 range. In the meantime, previous forecasts remained valid. If the rate declines below the 1.2300 mark, the pair could find support in the 2020 July low level at 1.2260. Further below, support is highly likely going to be provided by
Since the middle of Monday's trading hours, the EUR/USD currency exchange rate has been trading around the 1.0560 mark. Short term support is being found in the 1.0540 mark and resistance is provided by the 1.0580 level. Meanwhile, previous forecasts remained valid. If the pair declines, the 1.0500 is expected to act as support, before the last week's low level
The USD/CAD currency exchange rate has revealed a channel up pattern, which has guided it up since the Federal Reserve Rate hike on May 4th. Most recently, at midnight to Tuesday, the pair bounced off the upper trend line of the pattern and started to consolidate near the 1.3000 mark. In the near term future, the pair was expected to
This week, the GBP/JPY currency pair was finding resistance and bouncing off round exchange rate levels. Namely, the 161.50 and 162.00 levels were acting as resistance. In the meantime, support was being provided by the 160.08/160.43 zone. A move below the support zone could almost immediately encounter support in the 160.00 level. Further below, take into account the weekly S1
The decline of the AUD/USD has passed below the low level zone at 0.7030 and the 0.7000 mark. At midnight to Tuesday, the pair touched the 0.6915 level, which acted as support and caused a recovery. However, by the middle of the day's trading, the surge was stopped by the weekly S1 simple pivot point at 0.6978 and the 0.6980
This week, the EUR/JPY currency exchange rate managed to shortly reach above the 138.00 mark. However, the event was followed by a decline. Since the middle of Monday's trading hours, the rate has been finding support in a support zone at 137.05/137.12. If the pair declines below the 137.05/137.12 zone, the rate could look for support in the weekly S1