EUR/USD has seen a recovery towards levels of 1.03500 while breaching price levels of 1.02730 and 1.02370. Further momentum to the upside could bring the FX currency pair closer to 1.04000. The FX pair is trading above the simple moving averages, which could indicate a shift in momentum from bearishness to bullishness in the near term.
The continued strength of the USD has brought GBP/USD closer to the 1.23000 level. Simple moving averages suggest that a short-term recovery may occur. A bullish reversal towards 1.24500 could serve as a strong resistance level. If no significant bullish movement occurs, a move towards 1.2200 could be imminent.
EUR/USD currency pair is trading above 1.0310, while having some downside pressure at current price levels. If downward pressure continues, continuation towards 1.0249 support. If support is broken move to the 1.0010 might be possible. A bullish reversal towards 1.0473 which is 61.80% Fibonacci resistance could occur if momentum changes, further resistance of 1.06100 should be considered as a
GBP/USD currency pair has dropped to its lowest in over eight months, below 1.2500 against the US Dollar, as the USD gained strength due to expectations of growth from President-elect Trump's policies. These policies are expected to slow Federal Reserve rate cuts, supporting the USD. The Fed also predicts fewer rate cuts this year, with Federal Fund rates possibly reaching
The price level of 158.000 for USD/JPY has been reached and will be tested. If a successful breakout occurs, the upside momentum could possibly push the currency rate higher towards 160.000. However, if the price level of 158.000 is rejected in the near term, a move to the downside towards the price range of 156.800-156.055 is likely. If no
The holiday trading week allows global trader sentiment to determine the trading bias of a currency pair. GBP/USD is currently testing the 1.25000 price level. The price level of 1.26055 should be tested if the forward momentum in the price action suggests that a move to the upside is possible. In that case, the further price level of 1.27000 could
The Federal Reserve's decision on December 18th has had a significant impact on the GBP/USD currency pair. The substantial increase in USD strength has brought the GBP/USD pair towards the 1.26000 price level. If the price momentum to the downside continues, the 1.24800 support level could be tested. The December 20th data release for month-on-month retail sales in the UK
The ZAR/JPY currency pair reached resistance at the 8.6360 level, and the breakout was denied, increasing the probability of further price discovery towards the 8.4900 level. If support at the 8.35 level is broken, momentum could increase the likelihood of further selling pressure. The 10-hour RSI suggests the currency pair has been overbought.
The EUR/USD trading pair is currently above the 1.04500 price level and within a possible descending channel. The currency pair has experienced a gradual decline from the 1.06300 level to 1.04900 in the short term. The 24-hour RSI indicator suggests that the currency pair is currently oversold. The 1.05350 price level is the next resistance to consider. While the
USD/JPY currently is trading above 150.000 above, testing 152.1800 resistance level, if breakout follows, next price level resistances are 153.5500, 154.7550. If USD/JPY successfully breaks above 152.1800, the bullish momentum could drive the price towards 153.5500 and 154.7550. Traders will be watching closely for confirmation of a breakout or any signs of reversal at these key resistance levels. In
Currently, GBP/USD is trading around the 1.25000 price level. The currency pair has been trading within a descending channel since October. If a breakout of the descending channel occurs, the inflection point could be considered for the currency pair, possibly testing the 1.28800 price level. Rejection of the 1.27000 price level would continue the downtrend within the descending channel
Natural Gas price has seen significant increase in price. In the last two weeks Nat gas prices rose by more than 30%. Upcoming winter season could bring higher demand in the energy market, if weather conditions in the northern hemisphere bring colder temperatures during this season. The 200-hour, 100-hour, and 50-hour simple moving averages on the 4-hour time frame suggest
It has been spotted that the metal's price has declined, since the US elections, in a channel down pattern. However, the price has found support in the 2,540.00 level to start a recovery that was strong enough to break the pattern and the 2,600.00 mark. In general, the metal was already oversold, which contributed to the start of the
The post-US election surge encountered resistance near the 156.50 level. It appears that this level, namely the 156.50/156.75 range, is capable of impacting the pair. However, the follow-up decline has found support in the 153.60/153.90 range. By mid-Monday's trading, the currency pair had started a recovery that faced resistance in the 50 and 100-hour simple moving averages near 155.25.
The decline of the Pound against the US Dollar has continued. However, on Friday, the rate appeared to have found support in the 1.2600 mark, namely the 1.2600/1.2620 range. This ongoing recovery of the GBP/USD is set to face the 1.2700 mark and the 100-hour simple moving average. If these levels fail, the weekly simple pivot point will act as resistance
The decline of the EUR/USD continued, as the Dollar strengthened throughout the week. Eventually, the 1.0500 mark was reached that acted as support. However, the support was not enough to create a broader recovery, as the 1.0600 mark started to act as resistance. In the meantime, the 50 and 100-hour simple moving averages revealed that they are capable
Gold declined after the US elections. By mid-Monday, the decline had almost reached the 2,600.00 mark, as a recovery started. However, the recovery was facing the resistance of the 2,620.00 mark. In the near term future, the metal is expected to extend the decline and look for support in the 2,590.00/2,600.00 range. If this range fails, the commodity price might
In the aftermath of the US elections, the US Dollar surged and the USD/JPY rate reached above 154.50. However, the pair did not test the 155.00 mark, as a retracement started. Eventually, the retracement ended near 152.20. This week, the rate appeared to be heading back higher, as on Monday the 154.00 level's resistance was tested. A surge of
The US elections caused a drop of the GBP/USD to the support range near 1.2840. Surprisingly, the range held and forced the pair into another test of the resistance of the 1.3000 mark. However, the 1.3000 held and by this week the pair was back at 1.2840/1.2855. A move below 1.2840 might result in the rate looking for support in the
In the aftermath of the US elections, the EUR/USD declined due to a broad strengthening of the US Dollar. It was expected by our analysts that the USD would decline, as the Trump government would not care about inflation and stimulate the markets. However, it appears that the strengthening and potential gains in the USA are creating demand
The price of gold has continued to book higher and higher levels. However, it constantly gets overbought and each fundamental event that strengthen the USD causes major drop of the commodity price. This week, the price is bound to be dictated by the US Presidential Election and US Federal Reserve announcements. In regard to technical analysis, watch the 2,730.00 and
As the US election approaches, the USD/JPY bulls appear to have taken profit, as the rate broke the channel up pattern on October 31. It appears that the rate is waiting for this week's fundamental events near the 151.50 mark. In the near term future, the pair will react to the major fundamental events. However, watch the round exchange
Prior to the US Presidential Elections, the GBP/USD plummeted due to US jobs and inflation data and revealed that it is finding support at 1.2845/1.2855. The support was enough to force the rate to return to the 1.3000 mark. It appears that the rate will wait for the election outcome near this level. Moreover, this week, we have the Bank
The EUR/USD is waiting for the US Presidential election near the 1.0900 mark. In general, the future direction will be given by the elections. Currently, market analysts expect the Dollar to drop in the case of a Trump win and the opposite, if Harris wins. Namely, Trump's comments on policy signal more stimulus. In the case of an EUR/USD