On Thursday, the price for gold managed to reach above the 1,865.00/1,870.00 resistance zone. However, even before reaching the 1,875.00 level, the price started to decline. On Friday, the price had found support in the 50-hour simple moving average near 1,857.00. A potential resumption of the surge of the yellow metal's price would have to once again pass the 1,865.00/1,870.00 zone,
On Friday morning, the USD/JPY found enough support in the 129.50/129.80 zone to start a surge. By the middle of the day's trading, the pair had already passed above the 130.50 mark. If the US Dollar continues to surge against the Japanese Yen, resistance is most likely going to be provided by the 131.00/131.40 zone, which captures the April high levels. Meanwhile,
The GBP/USD found enough support in the 1.2460/1.2480 zone on Thursday to sharply surge up to the weekly simple pivot point at 1.2588. The pivot point acted as resistance and caused a decline to the 1.2520 level. At mid-day on Friday, the pair was highly volatile between the support of the 50-hour simple moving average near 1.2540 and the resistance
On Friday morning, the EUR/USD bounced off the resistance of the 1.0740/1.0760 zone. The following decline eventually reached the support of the 50-hour simple moving average at 1.0705. The touching of the 50-hour SMA was consistent with the dip, which was caused by the release of the monthly US employment data at 12:30 GMT. If the Euro recovers against the
At mid-day on Thursday, the US ADP Non-farm Employment data release caused a sell off of the US Dollar. On the USD/CAD the event resulted in a decline below the 1.2600 mark. On Friday morning, the rate fluctuated almost flat near the 1.2570 level. If the pair resumes its decline, the USD/CAD could look for support in the 1.2550 mark.
During the night between Thursday and Friday, the GBP/JPY currency pair reached above the 162.95/163.30 zone. However, it was spotted that the 163.50 level had immediately acted as resistance. If the rate passes above 163.50, the GBP/JPY currency exchange rate might encounter additional resistance in the 164.00 and 164.50 levels, before reaching the weekly R3 simple pivot point at 164.69. On
The support of the 0.7140 level was enough to cause a major surge of the AUD/USD rate. the surge shortly paused at 0.7200 and 0.7224/0.7230. During the midnight hour to Friday, the pair touched the 0.7280 level, before retracing down to look for support. Support appeared to be found in the 0.7250 mark and the weekly R2 simple pivot point
The 50-hour simple moving average has continued to push the EUR/JPY rate up. On Thursday, the pair reached above the 139.00 mark and the weekly R3 simple pivot point at 139.39. During the early hours of Friday's European trading, the pair reached above 139.50 and was heading to the 140.00 mark. The 140.00 level is also the April 2022
In the aftermath of the sharp and narrow decline, the USD/CAD currency pair has begun to trade between the support of the weekly S2 simple pivot point at 1.2607 and the resistance zone at 1.2680/1.2687. If the US Dollar resumes its decline against the Canadian Dollar, the currency pair would have to pass the weekly S2 simple pivot point and
Since early Tuesday's trading hours, the GBP/JPY currency pair has been trading between a support zone at 162.00/162.20 and resistance at 162.95/163.30. A move below the support zone at 162.00/162.20 might look for support in the 161.75 level, the weekly R2 simple pivot point at 161.68 and the 100-hour simple moving average. A failure of this combination to hold is highly
On Thursday morning, the AUD/USD currency pair passed below the support line of the channel up pattern. However, the pair quickly found support in the 0.7140 level and started a recovery. By the middle of the day's US trading hours, the pair had recovered to the combined resistance of the 0.7200 mark and the weekly R1 simple pivot point at
This week, the EUR/JPY currency pair managed to reach above the resistance zone at 138.00/138.35. On Wednesday, the rate found resistance in the 139.00 mark and confirmed the 138.00/138.35 range as support. The Euro could surge against the Japanese Yen due to the approaching support of the 50-hour simple moving average. A potential surge would have to break the
On Wednesday morning, the price for gold reached below the support zone of the mid-May low and high levels at 1,832.50/1,835.80. However, at mid-day the decline got exhausted, as a surge occurred. The rate quickly reached the 1,850.00 mark and the three hourly simple moving averages. If the commodity price surges above the 50, 100 and 200-hour simple moving averages and
The surge of the USD/JPY currency pair has reached the high level zone at 129.50/129.80. A move above 129.80 could encounter resistance in the 130.00 and 130.50 levels, before approaching the 131.00/131.40 zone. The zone captures the pair's April high levels. However, a decline of the rate might find support in the weekly R2 simple pivot point at 128.90 and the 129.00
At mid-day on Wednesday, the GBP/USD currency pair passed below the support of the 200-hour simple moving average. The event indicated that the pair could reach new low levels. However, support was almost immediately found in the 1.2560 mark. If the Pound declines against the US Dollar below the 1.2560 mark, the currency exchange rate might look for support in the
The EUR/USD surge did not reach the 1.0800 mark, as it started a decline during the midnight hours to May 31. The following decline eventually found support in the 200-hour simple moving average near 1.0680. The moving average provided enough resistance for a surge to begin. The surge eventually found resistance in the 1.0740/1.0760 zone. On June 1, the
On Monday morning, the price for gold found support in the 1,850.00 mark and shortly surged above the 1,860.00 level. However, by the middle of the day's European trading hours, the commodity price had declined and looked for support in the 50 and 100-hour simple moving averages. A resumption of the commodity price surge is expected to encounter resistance in the
On Monday, the USD/JPY bounce off the last week's low level trend line and surged to the 127.50/127.60 zone. At mid-day on Monday, the resistance zone was passed and the pair began to test the upper trend line of the channel down pattern, which had guided the rate since the start of May. If the US Dollar ends the May
Since mid-Thursday, the GBP/USD has been pushed up by the support of the 50-hour simple moving average. During the push upwards, the rate appears to have encountered resistance near 1.2650/1.2660. In the near term future, the GBP/USD could be pushed through the resistance of the 1.2660 mark by the 50-hour simple moving average. A move higher is expected to encounter
On Monday morning, the EUR/USD currency pair reached above the 1.0750 mark. Moreover, a resistance zone was marked at 1.0747/1.0765. At mid-day, the currency exchange rate appeared to be finding support in the previous resistance zone. If the Euro resumes its surge against the US Dollar, the rate is expected to encounter resistance in the 1.0800 level and the weekly
Since May 26, the USD/CAD currency pair has been declining in a narrow channel down pattern, which has led the rate below the 1.2700 mark. During the middle of Monday's trading hours, the pair was heading to the weekly S1 simple pivot point at 1.2663. A move below the weekly S1 simple pivot point and look for support in the 1.2640
On Monday, the GBP/JPY currency pair once again tested the 160.70/161.00 zone. At 10:00 GMT, the rate appeared to have successfully passed the resistance. A continuation of the surge of the pair is expected to encounter resistance in the 161.50 mark and the weekly R1 simple pivot point at 161.68. Higher above, note the May high level zones at 161.75/161.80
The Australian Dollar has surged against the US Dollar above the resistance levels near 0.7110/0.7120. By the middle of the Monday's European trading the rate was heading to the 0.7200 level, which was expected to act as resistance. In addition, the weekly R1 simple pivot point was located at 0.7204. A move above 0.7200 and the 0.7204 levels is set to
On Monday morning, the EUR/JPY currency exchange rate passed above the high level zone, which had kept the rate down since May 11. Meanwhile, it was spotted that during the same time period the pair has been finding support in an ascending trend line. Combining the support and resistance, one can spot an ascending triangle pattern. In theory, the