Despite breaking the channel up pattern, the price for gold surged on Monday morning. Namely, at 10:00 GMT, the rate reached the early July resistance zone at 1,771.30/1,773.10. A move above of the commodity price could encounter minor resistance in the 1,775.00, 1,780.00 levels, before reaching the resistance zone at 1,784.10/1,785.00. On the other hand, a decline of the metal's price
The decline of the USD/JPY has continued, as the 134.50 level provided enough resistance for the pair to resume its decline and reach a new low level. Namely, on Monday morning the rate was trading below 132.50 and was expected to reach 132.00. If the US Dollar declines against the Japanese Yen below the 132.00 level, note that support could be
In the aftermath of high volatility on Friday, the GBP/USD eventually reduce its range of fluctuations and started to trade between the 50-hour simple moving average near 1.2160 and the 1.2200 mark. On Monday morning, the pair broke the resistance of the 1.2200 mark and approached the 1.2250 level. If the Pound continues to appreciate in value against the US Dollar,
On Monday morning, as the month started, the EUR/USD currency pair pierced the last week's high levels near 1.2060. In the meantime, it was spotted that the pair has been moving upwards in a wide channel up pattern since July 27. However, note that the pattern captures both the US Federal Reserve rate hike and the publication of the
Since the early hours of Thursday's trading, the USD/CAD currency pair has been finding support in the 1.2800 mark. Meanwhile, resistance has been observed to be found in the 100-hour simple moving average near 1.2850. If the USD/CAD resumes its decline, the rate could aim for the weekly S2 simple pivot point at 1.2717 and the 1.2700 level. However, take into
On Friday morning, the GBP/JPY currency pair shortly traded below the 162.00 level, prior to returning to trade back above it during the second half of the day. If the Pound recovers its lost value against the Japanese Yen, the rate could encounter resistance in the 163.00 and 163.50 levels, before approaching the 50, 100 and 200-hour simple moving averages
On Friday morning, the AUD/USD currency pair clearly reached above the 0.7000 mark and the 0.7020 level. However, after the event, a sharp decline occurred, which failed to find any support. By the middle of the day, the rate had reached below the 0.6920 level and was touching the Wednesday's low levels. Afterwards, a sharp recovery appeared to be heading
The decline of the Euro against the Japanese Yen has continued, as on Friday morning, the pair almost reached the 135.50 level. In the meantime, it was observed that despite being pierced round exchange rate levels have been impacting the rate. In the case of the decline of the currency pair continuing, the rate might look for support in the
The price for gold has managed to reach above the resistance zone, which surrounds the 1,750.00 level. On Friday morning, the metal reached above the 1,765.00 level. However, during the afternoon hours, a retracement back down occurred. The retracement down of the commodity price might look for support in the 1,743.85/1,752.60 zone. In addition, note the 50-hour simple moving average
The decline of the USD/JPY currency pair eventually reached the 132.50 level. However, on Friday morning, the 132.50 provided enough support to cause a recovery. By the middle of the day's European trading, the pair had almost recovered to the 134.50 mark. A continuation of the USD/JPY surge could encounter resistance in the 134.75 level, the weekly S1 simple pivot point
As the GBP/USD was approaching the 1.2250 mark on Friday, it suddenly started a sharp decline. By the middle of the day's European trading hours, the pair had reached the 1.2100 level. A continuation of the decline of the 1.2100 mark might look for support in the 100-hour simple moving average near 1.2095 and the weekly R1 simple pivot point at
The EUR/USD currency pair has been highly volatile, as it has been reacting to major US fundamental events throughout the week. Namely, the Fed rate hike and monetary policy announcement together with the US GDP have been creating major moves. In general, the pair has been observed to be fluctuating between the support of the 1.0097/1.0115 zone and resistance
The US Federal Reserve rate hike and subsequent comments about easier policy has caused a decline of the USD/CAD rate back to June levels. Moreover, the vital support of the 1.2800 mark was passed on Thursday morning. An extension of the ongoing decline of the US Dollar against the Canadian Dollar might look for support in the 1.2750 and 1.2700
The GBP/JPY currency pair appears to have reacted to the risk on sentiment, which was caused by the US Federal Reserve at 18:00 GMT on Wednesday. Namely, the Pound surged against the Japanese Yen and shortly reached above the 166.50 level. Afterwards, a decline back to the 164.50 level occurred. On Thursday morning, the pair was trading around the 165.00
The US Federal Reserve rate hike and the following press conference moved the AUD/USD rate to trade between the resistance of the 0.7000 mark and the support of the 0.6975/0.6980 zone. However, it was observed that the pair was managing to shortly reach above the 0.7000 level. If the Australian Dollar reaches above 0.7000, the 0.7040 and 0.7060 levels could act
Since the start of Wednesday's trading, the EUR/JPY currency exchange rate has been observed to respect the support and resistance of round exchange rate levels. Namely, the 138.00, 138.50, 139.00 and 139.50 levels were acting as either support or resistance. On Thursday morning, the pair was fluctuating between the 138.00 and 138.50 levels. A surge of the Euro against the
The press conference of the Chairman of the Federal Reserve Jerome Powell caused a drop of the value of the US Dollar. The event resulted in a surge of the price for gold through the resistance of the 1,735.00/1,740.00 zone. On Thursday morning, the commodity was testing the resistance of the July high levels at 1,743.85/1,752.50. A move above the resistance
On Wednesday, the value of the US Dollar plummeted despite the US Federal Funds Rate hike. The decline occurred due to comments made by the head of the Federal Reserve that they could ease the future policy of rate hikes. Due to that reason, the USD adjusted to the possible future of a smaller demand for the US currency. On the
The US Federal Funds Rate hike and the following press conference by the Chairman of the Federal Reserve Jerome Powell caused a broad decline of the US Dollar's value. On the GBP/USD currency exchange rate it resulted in a surge above the 1.2150 level. Since the event, the pair has been trading almost sideways in the 1.2150/1.2185 range. In the case
The EUR/USD currency pair found support in the 1.0100 mark and the weekly S1 simple pivot point at 1.0101. In the aftermath of starting a minor recovery, the EUR/USD surge was boosted by the head of the US Federal Reserve Jerome Powell. Namely, the Chairman's comments during the press conference after the US 0.75% rate hike caused a broad
Since the middle of Tuesday's trading, the USD/CAD currency pair was testing the resistance of the 1.2900 mark. Meanwhile, support was found in the 1.2850 mark. However, on Wednesday, technical analysis is set to be obsolete, as at 18:00 GMT, the US Federal Reserve is set to hike USD base interest rates, reveal its Monetary Policy Statement and host a follow
The GBP/JPY currency exchange rate has moved above the resistance line of the channel down pattern. On Wednesday, the rate traded around the 165.00 mark and ignored the round level's resistance and support. Meanwhile, it appeared that the 200-hour simple moving average was acting as support near 164.80. In the case of the Pound surging against the Japanese Yen, the rate
By the start of Wednesday's trading, the AUD/USD rate had reached the 0.6920 level. The pair was extending the decline, which started after the failed attempt to reach above the 0.6980 level. However, on Wednesday, technical analysis is set to be obsolete for all USD pairs, as the US Federal Reserve is set to announce a rate hike at 18:00 GMT.
The channel down pattern has failed to push the EUR/JPY down, as the rate has passed above the pattern's resistance line. Meanwhile, it appeared that the 139.00 mark and the 50-hour simple moving average continued to act as resistance. Support was being provided by the 138.50 level. If the Euro resumes its decline against the Japanese Yen, the pair might