Technical Analysis

Wed, 09 Feb 2022 15:41:25 GMT

GBP/USD aims at 1.3600 mark

During the early hours of Wednesday's US trading hours, the GBP/USD currency exchange rate had revealed a channel up pattern, which had guided the rate since Friday. However, the pattern was not expected to hold, as the incoming US Consumer Price Index data on Thursday was expected to cause an adjustment of the value of the USD. In the meantime,

Wed, 09 Feb 2022 15:34:04 GMT

EUR/USD breaks pattern

The support of the 1.1400 mark was strong enough on Wednesday morning to cause a breaking of the resistance line, which had guided the rate down since February 4. In addition, the currency exchange rate passed the resistance of the 50 and 100-hour simple moving averages. If the surge of the Euro against the USD continues, the pair could reach

Wed, 09 Feb 2022 10:33:12 GMT

USD/CAD finds resistance near 1.2720

The USD/CAD currency exchange rate bounced off the resistance of the zone that surrounds the 1.2720 mark. Namely, the 1.2715/1.2725 zone is once again impacting the rate. On Wednesday morning, the pair bounced off the resistance zone and began a decline, which was expected to reach the weekly S1 simple pivot point at 1.2685. If the pair passes below the 1.2685

Wed, 09 Feb 2022 10:14:41 GMT

GBP/JPY reaches new monthly high

The GBP/JPY currency exchange rate has passed the previous February high level zone. However, the event did not result in a large surge, as the pair stopped at the 156.75 level. Since the event, the rate has been fluctuating around the 156.50 mark in the 156.30/156.75 zone. A resumption of the surge of the Pound against the Yen could find resistance

Wed, 09 Feb 2022 09:50:11 GMT

AUD/USD reaches resistance zone

The surge of the AUD/USD has reached the resistance zone at 0.7160/0.7170 and the weekly R1 simple pivot point at 0.7170. Meanwhile, the resistance zone was being crossed by the trend line, which connects the January high levels. In the case that the rate passes the mentioned resistance levels, the pair would have no technical resistance as high as the weekly

Wed, 09 Feb 2022 09:26:29 GMT

EUR/JPY remains below 132.00

The EUR/JPY currency exchange rate made at least three attempts at passing the resistance of the 132.00 mark and the zone above it. By the start of Wednesday's European trading hours, the currency exchange rate was still located below the 132.00 level. Meanwhile, the rate had shown that January high levels could provide short term support. In the case that

Tue, 08 Feb 2022 13:09:31 GMT

Gold fails to reach 1,825.00

The price for gold surged late on Monday. However, the price did not reach the 1,825.00 mark, as the surge ended near the 1,823.00 level. On Tuesday, the commodity retraced downwards, as the metal was looking for future direction. If the commodity price continues to surge, it should reach for the resistance of the 1,825.00 level. Higher above, the summer

Tue, 08 Feb 2022 13:04:04 GMT

USD/JPY passes resistance zone

On Tuesday morning, the USD/JPY currency exchange rate passed above the previous February high level zone near 115.40. However, by the middle of the day's trading, the pair had retraced downwards and was looking for technical support. If the pair resumes its surge, it could aim at the late January high level zone near 115.70. Above the resistance zone, the weekly

Tue, 08 Feb 2022 12:44:19 GMT

GBP/USD recovers on Tuesday

The GBP/USD currency exchange rate surged on Tuesday, as it reached above the resistance of the 50 and 100-hour simple moving averages near 1.3530 and 1.3550. At mid-day European trading hours, the pair shortly reached above the 1.3560 level. If the Pound continues to surge against the US Dollar, the pair could aim at the February high level zone at 1.3615/1.3628.

Tue, 08 Feb 2022 12:28:33 GMT

EUR/USD reaches below 1.1400

The EUR/USD has reached below the support of the 1.1412/1.1416 zone. However, after shortly reaching below the 1.1400 mark, the pair found support in the 100-hour simple moving average. In the meantime, it was spotted on Tuesday that the pair has been declining since February 4 in a channel down pattern. In the case that the Euro recovers against the

Tue, 08 Feb 2022 09:47:01 GMT

USD/CAD finds support in low level zone

The decline of the USD/CAD has found support in the February low level zone. On Tuesday, a recovery of the rate reached the resistance of the 1.2700 mark. A passing of the resistance of the 1.2700 mark could encounter resistance in the 50 and 200-hour simple moving averages near 1.2710/1.2720. Above the SMAs, the weekly simple pivot point at 1.2736

Tue, 08 Feb 2022 09:37:13 GMT

GBP/JPY aims at resistance zone

The GBP/JPY ended its retracement down at the 115.15 level. Since mid-Monday, the currency exchange rate has been recovering and passing resistance levels. Namely, the pair has passed above the weekly simple pivot point and the 50-hour SMA. A continuation of the recovery of the Pound against the Japanese Yen could test the last week's high level zone at 156.50. If

Tue, 08 Feb 2022 09:28:20 GMT

AUD/USD recovery reaches 0.7140

The recovery of the Australian Dollar against the USD has reached the 0.7140 mark. On Tuesday, the rate retraced down and fluctuated near the 0.7120 level. If the currency exchange rate resumes its surge, it would have to pass the resistance of the 0.7140 mark, before aiming at the resistance zone at 0.7160/0.7170 and the weekly R1 simple pivot point at

Tue, 08 Feb 2022 09:02:58 GMT

EUR/JPY trades sideways

The EUR/JPY currency exchange rate remains below the 132.00 mark. On Tuesday morning, the pair made an attempt to pass the round exchange rate level, before retracing back down. Meanwhile, it was spotted that the 50-hour simple moving average is not capable of changing the rate's direction. In addition, note that the 131.25 level acted as support on Monday. In

Mon, 07 Feb 2022 13:53:44 GMT

Gold reaches above 1,815.00

Despite experiencing a sharp dip due to the US Employment data sets on Friday at 13:30 GMT, the price for gold returned to testing the resistance of the 1,815.00 mark. On Monday, the price passed above the 1,815.00 mark. If the commodity price continues to surge, it should reach for the resistance of the 1,825.00 level. Higher above the summer high

Mon, 07 Feb 2022 13:42:41 GMT

USD/JPY declines on Monday

On Monday morning, the USD/JPY currency exchange rate bounced off the resistance zone, which surrounds the 115.40 mark. Afterwards, the rate declined to the support of the 200-hour simple moving average near 114.90. If the USD recovers against the Japanese Yen, the pair might once again test the resistance of the 115.40 mark, before aiming at the weekly R1 simple pivot

Mon, 07 Feb 2022 13:27:50 GMT

GBP/USD returns to 1.3500

In the aftermath of the Bank of England rate hike, the GBP/USD has declined. On Monday, the currency pair reached below the 1.3500 mark and touched the 200-hour simple moving average near 1.3490. Meanwhile, resistance was being provided by the 100-hour simple moving average near 1.3550. If the GBP/USD passes below the 1.3500 mark and the 200-hour simple moving average, the

Mon, 07 Feb 2022 13:11:18 GMT

EUR/USD reveals support and resistance

In the aftermath of the ECB caused surge, the EUR/USD currency exchange rate has begun to consolidate by trading sideways. The rate has been trading sideways between the support of the 1.1412/1.1416 zone and resistance at 1.1472/1.1485. In the case that the rate ends its sideways trading by surging, the EUR/USD could immediately encounter resistance in the form of the

Mon, 07 Feb 2022 10:00:25 GMT

USD/CAD fails to reach 1.2800

On Friday, the USD/CAD currency exchange rate failed to reach the resistance zone that is located near the 1.2800 mark. On Monday morning, the currency pair bounced off the 1.2710 mark and recovered to the 1.2740 level. If the pair continues to recover, it could approach the 1.2800 mark and the resistance zone below it. However, the rate might encounter resistance

Mon, 07 Feb 2022 09:48:06 GMT

GBP/JPY returns to pre-rate-hike levels

At the end of last week, the GBP/JPY jumped due to the Bank of England hiking interest rates. However, the surge was stopped by the 156.50 mark. The event was followed by a decline, which on Monday morning passed below the support levels near 155.60 and reached the 155.50 level. If the pair continues to decline, it would have to pass

Mon, 07 Feb 2022 09:37:54 GMT

AUD/USD fluctuates near moving averages

On Monday morning, the AUD/USD currency exchange rate surged, and by the start of the day's European trading the pair was located between the 50 and 200-hour simple moving averages at 0.7090 and 0.7110. In the case of a surge, the pair might test the resistance of the February high levels at 0.7160/0.7170 and the weekly R1 simple pivot point at

Mon, 07 Feb 2022 09:19:16 GMT

EUR/JPY reaches above 132.00

On Thursday, the EUR/JPY started a sharp surge, which was caused by the European Central Bank. Namely, comments made by the President of the European Central Bank Christine Lagarde were the catalyst of the rate reaching the 132.00 mark. This week, the rate had retraced down to the 50-hour simple moving average near 131.50. In addition, it was spotted that

Thu, 03 Feb 2022 14:47:02 GMT

Gold is still below 1,810.00

Despite piercing the resistance of the 1,810.00 mark, the price for gold declined. By the middle of Thursday's trading, the price for the yellow metal was located in the range between 1,800.00 and 1,805.00 levels. In the meantime, it was observed that the price was ignoring the 50 and 100-hour simple moving averages. In the case of a decline, the commodity

Thu, 03 Feb 2022 14:35:45 GMT

USD/JPY recovery almost touches 115.00

The 114.20 mark provided enough support to the USD/JPY currency exchange rate for the pair to recover. By the start of Thursday's US trading hours at 14:30, the pair had made an attempt to reach the 115.00 mark. If the currency exchange rate passes the resistance of the 100-hour SMA at 114.90 and the 115.00 mark, it would have no technical

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