The pair seems to have entered a period of consolidation; although, the question where it is going to move in the future remains wide open.
EUR/USD currency pair appreciated during the last trading day of the previous week, as it approached a considerable resistance line, represented by the monthly pivot point at 1.2468.
After the disappointing end of the last week and the beginning of this week, we saw the pair jumping in value on Wednesday, as it added almost 150 pips.
This once again has been a great week for the USD/CAD bulls, as the pair continue to appreciate.
The Australian currency continues to demonstrate its weakness against almost all currencies and US Dollar, of course, is not an exception.
EUR/JPY has declined and most likely will end the week with losses, as the pair has slipped below the weekly S1 and 20-day SMA at 147.73/44.
The most traded currency pair made a slight correction to the downside after a three-day long bullish move.
The Greenback has managed to reverse some of the recent losses that it faced against the Japanese Yen
The bullion was only little changed in price during the trading session back on Thursday of this week.
The GBP/USD cross has left the boundaries of a long-term downtrend
The Kiwi has jumped, after a informational shock together with the monthly S1 at 0.7687 pushed the pair above the 0.78 level.
The pair is challenging the weekly and monthly R1s at 1.1506/27 that has not been touched before, simultaneously the pair has reached a new high at 1.1538.
The pair's down-trend has been halted by the monthly S2 and weekly S1 at 0.8280/42.
The Euro is doing already better today as it approached the weekly S1 at 147.73, after a slide below the 147 mark yesterday.
The price of Gold was little changed in course of the trading day on Wednesday, as a small correction took place and followed a major gain of a day before.
The US Dollar's weakness is spurring the Japanese Yen's recovery, as of now USD/JPY has approached the 118 level, meaning that it has lost almost 400 pips in the week.
GBP/USD has breached 1.57 level and it is continuing to appreciate, at least that is what it has done for the first three days of the week.
EUR/USD continued to show a strong upward development during the trading session back on Wednesday, as it managed to rise through the weekly R1 and monthly PP to reach the December's high at 1.2494.
The Kiwi is continuing what it started yesterday, namely a rebound, after reaching the lowest level this year at 0.7610.
The pair has not fluctuated as strongly as it did yesterday; however, it has added some value to its price.
This is the first day in more than a week, when the Australian Dollar could gain versus the US Dollar.
It looks like its going to be a third consecutive day of losses for the EUR/JPY cross, after it approached the 150 level on Monday.
The bullion rebounded significantly on Tuesday, as bullish impetus was received from the monthly R1 and 55-day SMA around $1,205.
USD/JPY has rebounded from the steep drop yesterday, when the weekly S1 at 119.05 was breached.