After a 22-pip depreciation the buck continued to lose value against the Japanese Yen until the pair slipped back to the monthly S1 at 108.82
The EUR/USD forecast continues to be correct.
Yesterday the exchange has expectedly broke through the weekly S1 at 1.2799 and continued to slip to the bottom.
Contrary to expectations, the buck managed to break through a combination of the 100- and 200-hour SMAs as well as the weekly PP.
On Wednesday morning the price of the yellow metal remained in a short term descending channel pattern, which represents the consolidation after reaching above the 1,300 mark.
The common European currency continues to move in accordance with the descending channel pattern against the US Dollar.
Yesterday the currency rate has left the rectangle formation in the southern direction and, thus, additionally confirmed an existing and dominating downtrend
Second time in a row the currency exchange rate failed to break through the monthly S1 at 108.82
The British Pound is continuing to move against the US Dollar in a rectangle or triple bottom formation
As it was expected, after hitting the 1,300 mark, the yellow metal's price began a period of consolidation.
The EUR/USD pair has reached higher and hit the upper trend line of the descending medium term pattern. However,
The yellow metal has hit the 1,300 mark, as it was expected throughout last week.
The US Dollar is continuing to lose value against the Japanese Yen simultaneously in two descending channels.
The common European currency continues to trade against the US Dollar in the medium term descending channel pattern.
Beginning of the new week the British Pound started in a descending triangle pattern against the US Dollar.
The surge of the yellow metal continues, as forecasted. A new target has been pierced and set.
The US Dollar has returned to the zone close to the lower trend line of the large scale triangle pattern against the Japanese Yen.
After a full review of the technical situation on the GBP/USD pair, notable facts have been revealed.
During the last trading session the EUR/USD pair has acted rather unexpectedly, breaking the week long streak of precise forecasts.
The bullion has rebounded against a previously described cluster of support. The next target of the bullion is the monthly R1 at the 1,292.91
The Greenback extended losses against the Yen, as the US Building Permits report disappointed market expectations.
A combination of the stronger-than-expected average earnings growth and lower unemployment in the UK contributed to a sharp increase in the GBP/USD.
The common European currency continues to trade against the US Dollar in the medium term descending channel pattern. Moreover,
The bullion has reached a cluster of various supports and reached below the 1,270 mark. The move was expected. However,