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
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
On February 3, the Bank of England published its Monetary Policy Summary. The bank hiked its interest rate by 0.25% to 0.50%. In addition, the central bank Monetary Policy Committee voted unanimously to start to reduce its stock of bonds. Namely, the bank is starting quantitative tightening. On the release, the GBP/USD suddenly dropped by 23 base points or 0.17%, before
On Thursday, at 12:45 GMT, the European Central Bank published its Main Refinancing Rate and Monetary Policy Statement. In general, the bank kept its rate at 0.00%, but revealed that it would end its quantitative easing policy. Afterwards, comments made by the head of the central bank Christine Lagarde caused a surge of the currency pair. The surge of
On Thursday, it was spotted that throughout February the USD/CAD currency exchange rate has been finding support in the 1.2651/1.2656 zone. This zone has reversed three recent declines of the USD against the Canadian Dollar. During the early hours of Thursday's trading hours, the currency pair was located below the resistance of the weekly simple pivot point at 1.2709 and
On Thursday morning, the GBP/JPY currency exchange rate approached the 155.50 mark and began to test its resistance. Previously, on Wednesday, the 155.50 level stopped the rate's surge. In the case that the 155.50 level is properly passed, the pair could aim at the 156.00 level. Meanwhile, take into account that there are no technical levels providing resistance as high
The recovery of the Australian Dollar against the US Dollar appears to have ended at the 0.7160 mark. Namely, the pair bounced off this level at mid-day on Wednesday. By the start of Thursday's European trading hours, the currency exchange rate had reached the 0.7120 mark and the 50-hour simple moving average. In the case that the 50-hour simple moving average
On Thursday morning, the EUR/JPY currency exchange rate surged and reached a new February high level, as the 129.60 mark was touched. A continuation of the surge of the Euro against Japan could find resistance in the weekly R2 simple pivot point at 129.67. Above the pivot point, resistance could be provided by the 130.00 mark or the weekly
The price for gold continues to test the resistance zone below the 1,810.00 mark. Meanwhile, it was observed that the 1,795.00 mark was providing support. At mid-Wednesday, the price was located in the resistance zone. Due to that reason, previous forecast scenarios remain unchanged. A move above the resistance zone and the 1,810.00 level could result in a test of the
The decline of the US Dollar against the Japanese Yen has continued, as by the start of Wednesday's US trading hours, the rate had reached the 114.20 level. In the meantime, the rate had no technical support as low as the 114.00 mark and the weekly S1 simple pivot point at 113.93. If the rate continues to decline, it would
The surge of the GBP/USD currency exchange rate has reached above the 1.3550 mark. In general, it was initially seen that the pair has no technical resistance as high as the weekly R2 simple pivot point at 1.3650. Meanwhile, it was expected that the 1.3600 mark could act as resistance. However, additional analysis revealed that the recent surge of the
On Wednesday, the recovery of the Euro against the US Dollar continued to surge, as the pair breached the weekly R1 simple pivot point at 1.1293 and the 1.1300 mark. By the middle of the day's trading, the pair had reached above 1.1320. If the pair continues to surge, the EUR/USD could eventually reach the 1.1365 mark, which acted as
The USD/CAD almost reached the 1.2650 mark on Tuesday, before starting a recovery. The recovery was stopped by the resistance of the 50-hour simple moving average near 1.2730. On Wednesday, the currency exchange rate was fluctuating in the 1.2675/1.2700 range. In the case of a surge, the pair would face the resistance of the 1.2700 mark, the weekly simple pivot point
On Tuesday, the GBP/JPY recovered to the 155.20 level, which appeared to provide resistance. During Wednesday's trading, the pair was trading sideways between 155.00 and 155.20. In the meantime, the 50-hour simple moving average was approaching the currency exchange rate. If the support of the 50-hour simple moving average causes a surge, the rate would face the resistance of the weekly
The Australian Dollar continues to gain against the US Dollar, as the currency exchange rate reached the 0.7150 mark during the night to Wednesday. On Wednesday morning, the rate was trading sideways near the 0.7135 level. It was assumed that the pair was consolidating its gains before looking for future direction. In the likely case that the pair resumes its surge
The decline from the 129.50 mark eventually found support in the 200-hour simple moving average near 128.90. The SMA provided enough support for the currency pair to start a recovery. During the early hours of Wednesday's trading, the rate had reached the 129.40 mark. In the near term future, the currency exchange rate could be pushed up by the 50-hour
On Tuesday, the yellow metal's price continued to recover, as it approached the zone, which is located below the 1,810.00 mark. The zone acted as support in mid-January. During Tuesday's trading, it appeared that the zone was acting as resistance. A move above the resistance zone and the 1,810.00 level could result in a test of the 1,815.00 level. Higher above,
The USD/JPY ended trading in the sideways range by declining. By mid-Tuesday's trading, the rate had reached below 114.60. In the near term future, the rate might look for support in the 114.50 mark. The 114.50 mark was being supported by the 200-hour simple moving average. In the case that the rate passes below the 114.50 mark and the 200-hour simple
At mid-day on Tuesday, the GBP/USD currency exchange rate passed the resistance of the 1.3500 mark and shortly fluctuated above this level. Afterwards, the pair retraced to the 1.3480 mark. If the currency exchange rate continues to decline, it could look for support in the weekly simple pivot point at 1.3443 and the 50 and 100-hour simple moving averages near
During Tuesday's trading hours, the EUR/USD continued to recover, as by mid-day the rate had reached the 1.1280 mark. Meanwhile, it was spotted that the rate had reached above the 200-hour simple moving average, which appeared to have started to act as support. If the 200-hour simple moving average causes a surge, the pair would most likely test the resistance
Eventually, the USD/CAD passed the support of the zone at 1.2713/1.2724, the weekly simple pivot point at 1.2709 and the 1.2700 mark. By the middle of Tuesday's European trading hours, the currency rate had almost reached the 1.2650 level. If the pair declines below the 1.2650 mark, the rate could look for support in the 200-hour simple moving average at 1.2640,
On Monday, the GBP/JPY currency exchange rate bounced off the resistance of the weekly R1 simple pivot point at 155.33. Afterwards, a follow up decline found support in the 154.50 mark and the 200-hour simple moving average. Since mid-Monday, the rate has been trading between the 154.50 and 155.00 levels. If the pair breaks the resistance of the 155.00 mark, it
On Tuesday morning, the Australian Dollar was approaching the 0.7100 mark. The move up occurred despite a 36 base point dip in the morning, which was caused by the Reserve Bank of Australia announcing that it would end quantitative easing. If the pair passes the 0.7100 mark, the 200-hour simple moving average might serve as resistance at 0.7120. Above the SMA,
The EUR/JPY currency pair hit the 129.50 mark on Tuesday morning. The round exchange rate level provided enough resistance for a retracement down below 128.30 to occur. In the near term future, the pair might find support in the weekly R1 simple pivot point at 129.09 and the 129.00 mark. Below these levels, the combination of the 50 and 200-hour