On Friday, the US Dollar retraced back down against all peer currencies. On the EUR/USD charts it resulted in a surge above various technical and psychological levels. By the middle of the day's trading, the exchange rate had almost reached the 1.0600 mark. Note that the 1.0600 level could be strengthened by the 100-hour simple moving average. Meanwhile, the
The USD/CAD currency pair encountered resistance in the 1.2880 mark and declined. The decline broke the channel up pattern, which had guided the rate up since the previous Friday. The move occurred due to an all-out decline of the US Dollar. Namely, the US Dollar index was observed to be going down in the aftermath of touching 2002 levels. During
The resistance of the 164.10/164.25 zone was strong enough to cause a decline of the GBP/JPY. The decline eventually found support in the weekly S2 simple pivot point at 162.23. Afterwards, since the middle of Thursday's trading, the pair has been fluctuating around the 163.00 mark. A surge of the Pound against the Japanese Yen would most likely test the resistance
On Friday morning, he AUD/USD broke the channel down pattern, which had guided the rate since April 21. From a fundamental aspect the breaking of the pattern occurred due to news that the Reserve Bank of Australia is set to raise interest rates on Tuesday. Meanwhile, it could be observed on the US Dollar index chart that the USD was
Since the middle of Thursday's trading hours, the EUR/JPY currency exchange rate has been fluctuating between the support of the 137.00 level and resistance at 138.00. A move above the 138.00 level might encounter resistance in the weekly simple pivot point at 138.39 and the 138.50 mark. Higher above, take into account the 139.00 and 139.50 levels, and the August
As the value of the US Dollar continues to grow, the price for Gold extends its decline. During Thursday's trading hours, the price shortly traded below the 1,880.00 level, before retracing to the resistance of the 50-hour simple moving average near 1,893.00. If the price for gold is pushed down by the 50-hour simple moving average, the commodity would look for
On Thursday morning, the USD/JPY pair was testing the resistance zone, which surrounds the 129.00 level. At 03:11 GMT, the Bank of Japan revealed that it would continue its monetary easing policy despite the low value of the Japanese Yen. The announcement resulted in a jump of the rate by 1.00%, which was followed by a surge to the 131.00
The GBP/USD decline has continued, as the pair has passed below 1.2500 and the weekly S3 simple pivot point at 1.2474. During the mid-day hours of Thursday's trading, the pair confirmed the pivot point as resistance and continued to decline. In the near term future, the pair was expected to look for support in the 1.2400 level and the lower
On Thursday, the EUR/USD passed below the 1.0500 level. Meanwhile, the rate had revealed that since April 21 the pair has been declining in a narrow channel down pattern. A continuation of the decline would have no additional technical support, as the pair is below the 50, 100 and 200-hour simple moving averages and the weekly simple pivot points. Due
At mid-day on Thursday, the USD/CAD reached above the 1.2850 level, which had acted as resistance since the middle of Wednesday. A continuation of the surge of the US Dollar against the Canadian Dollar might encounter resistance in the weekly R2 simple pivot point at 1.2898 and the 1.2900 level. Higher above, the 1.2950, 1.3000 and 1.3050 levels could act
On April 28, the Bank of Japan released its Outlook Report and Monetary Policy Statement. In general, the bank is set to continue its monetary easing policy, which is weakening the value of the Yen. Namely, the bank is keeping its bank rates at previous levels and 10-year Japanese government bond yield target is set to be the same. Meanwhile,
During the early afternoon trading of Thursday's GMT time zone, the AUD/USD currency exchange rate reached below the 0.7100 mark and the weekly S2 simple pivot point at 0.7086. A continuation of the decline of the Australian Dollar, compared to the USD would most likely aim at the support of the 0.7050 mark and the lower trend line of a channel
The decline of the EUR/JPY urrency pair found support in the 134.85/135.10 zone. Afterwards, the pair traded sideways until the Bank of Japan released its monetary policy statement. In general, the bank is set to continue its monetary easing policy, which is weakening the value of the Yen. Namely, the bank is keeping its bank rates at previous levels
This week, the price for gold revealed that it has been declining in a channel down pattern. In addition, the commodity faces resistance at 1,907.50/1,911.30. During the second half of Wednesday's trading hours, the bullion had declined and traded below the 1,885.00 mark. If the price continues to decline, support might be found in the lower trend line of the
The 127.00 mark has provided enough support to the USD/JPY currency exchange rate for the pair to start a surge. By the middle of Wednesday's GMT trading hours, the USD/JPY had reached above the 128.00 level and technical levels, which surround it. If the US Dollar continues to gain value, compared to the Japanese Yen, the currency pair might test
On Wednesday, it was marked on the GBP/USD charts that the currency pair has been declining in a channel down pattern since April 22. On that day, the rate plummeted due to the worse than expected UK monthly retail sales data. In addition, most recently, the 1.2600 level had acted as resistance. If the Pound continues to decline, compared to the
By the middle of Wednesday's European trading hours, the EUR/USD currency exchange rate had reached below the 1.0600 and approached the weekly S3 simple pivot point at 1.0550. If the rate passes below the 1.0550 mark, the currency exchange rate would have no close by technical support. Meanwhile, round exchange rate levels could act as support. Namely, the Euro could
The USD/CAD pair was declining last week, until the US Federal Reserve policymakers revealed in interviews, how they are preparing for base interest rate hikes that are set to increase the demand for the US Dollar. Due to that reason a surge started, which on Monday had already reached the 1.2750 mark. Note that all such type of fundamental events
The GBP/JPY lost the support of the 167.00 mark and plummeted, during last week's trading. Moreover, on Monday, the rate passed the support line, which connects the April low levels. A continuation of the decline of the Pound against the Japanese Yen might aim at the weekly S2 simple pivot point at 162.23, the 162.00 mark and the 161.00 level. Meanwhile,
The resistance zone at 0.7450 was strong enough to cause a sharp decline of the AUD/USD pair below all noteworthy support levels. The rate sharply plummeted, as by April 25 the rate had reached the 0.7150 level. By doing so, the rate had passed below the March low level at 0.7170. A continuation of the decline of the pair would have
Last week, the EUR/JPY currency pair failed to pass the resistance of the 140.00 mark. Afterwards, a decline started, which by the middle of Monday's European trading hours had reached the 137.20 level. In regards to the near term future, a potential decline of the pair would most likely look for support in the 136.90/137.10 zone and the weekly
The situation on the chart for gold has not changed. Gold continues to find support in the 1,940.00 mark and resistance is provided by the 1,955.00 level and a zone above it. Previous analysis remains relevant. In the near term future, a potential decline of the price for gold might look for support in the 1,940.00, 1,930.00 and 1,920.00 levels, before
The USD/JPY made three attempts at passing the resistance zone at 128.47/128.68. On Friday morning, the rate clearly bounced off the resistance zone, as it passed below the support of the 50 and 100-hour simple moving averages and the 128.00 mark. A continuation of the decline of the US Dollar, compared to the Japanese Yen, the currency pair might look for
Since the middle of Thursday's trading up to the morning hours of Friday, the GBP/USD currency pair traded near the 1.3020 level. Due to that reason, the previous forecast scenarios remained relevant. A decline of the Pound against the US Dollar might look for support in the 1.3000 mark and the April low level zone at 1.2975/1.2990. Meanwhile, a move above the