Technical Analysis

Mon, 31 Jan 2022 14:53:52 GMT

GBP/USD reaches 1.3450

The GBP/USD pair touched the 1.3450 mark at mid-day on Monday. However, the round exchange rate level acted as resistance and caused a retracement to the 1.3400 level and the 50-hour simple moving average. In the meantime, some resistance was being provided by the 100-hour simple moving average and the weekly simple pivot point near 1.3440. In the case that the

Mon, 31 Jan 2022 14:50:03 GMT

EUR/USD recovers to 1.1200

On Monday, the EUR/USD currency exchange rate recovered and reached the 1.1200 mark. The rate had reached the level by finding support in the 50-hour simple moving average and the 1.1150 level. If the rate passes above the 1.2000 mark, it could find resistance in the weekly simple pivot point at 1.1208 and the 100-hour simple moving average. Above these

Mon, 31 Jan 2022 12:19:22 GMT

USD/CAD finds support at 1.2725

The USD/CAD currency exchange rate broke the channel up pattern, which captured the FOMC caused surge. The breaking of the pattern occurred due to a narrow resistance zone near the 1.2800 mark. The event was followed by a decline, which appeared to have ended by mid-Monday. Namely, the pair found support in the January 28 low levels and the 1.2725

Mon, 31 Jan 2022 12:04:44 GMT

GBP/JPY surges above 155.00

The 155.00 mark provided enough resistance to the GBP/JPY pair for it to decline and break the channel up pattern. However, this week, a recovery started. By the middle of Monday's trading, the currency exchange rate had reached the 155.30 level and the weekly R1 simple pivot point at 155.33. If the rate declines from the 155.30 mark, the 50 and

Mon, 31 Jan 2022 11:55:41 GMT

AUD/USD recovers above 0.7000

The AUD/USD has broken the channel down pattern, which captures the rate's decline in the aftermath of the US FOMC Statement. The breaking occured via a surge. By the middle of Monday's trading hours, the pair had touched the 0.7060 mark. A move above the 0.7060 level would leave the rate with no technical resistance as high as the weekly

Mon, 31 Jan 2022 11:47:04 GMT

EUR/JPY breaks patterns

On Monday morning, the EUR/JPY surged and broke the resistance of the junior and dominant channel down patterns. The following surge was stopped by the weekly R1 simple pivot point at 129.09. In the case that the rate declines, it could look for support in the combination of the weekly simple pivot point and the 50-hour simple moving average

Fri, 28 Jan 2022 14:18:27 GMT

Gold extends decline

The decline of the yellow metal has reached below the 1,785.00 level. In the meantime, it has been spotted that the decline of the yellow metal's price has been occurring in a narrow channel down pattern. If the bullion continues to decline, it could do so in the borders of the pattern. A potential decline of this kind would

Fri, 28 Jan 2022 14:04:54 GMT

USD/JPY surge finds resistance

On Friday morning, the USD/JPY currency pair found resistance in the 115.70 mark. The pair kept testing the resistance of this level until the US Dollar suddenly experienced an all out drop at 14:00 GMT. By the time of writing, the reason was unclear. Meanwhile, it was spotted that there was a support zone at 115.16/115.18. If the decline of the

Fri, 28 Jan 2022 13:55:56 GMT

GBP/USD bounces off support zone

Since mid-Thursday, the GBP/USD has been trading above the support of the 1.3360/1.3375 zone. At mid-day on Friday, the pair bounced off the support zone and suddenly surged to the 50-hour simple moving average at 1.3425. A move above the 50-hour simple moving average could find resistance in the combination of the weekly S2 simple pivot point and the 100-hour

Fri, 28 Jan 2022 13:46:46 GMT

EUR/USD recovers after new low

The EUR/USD decline reached a new low level, as the pair touched the 1.1120 mark at mid-day on Friday. However, in the afternoon, the pair sharply recovered, as it suddenly surged to the 1.1160 mark. Both of the mentioned levels have been marked on the pair's chart. If the currency exchange rate passes above the 1.1160 mark, it could find

Fri, 28 Jan 2022 11:05:12 GMT

USD/CAD aims at 1.2800

The surge of the USD against the Canadian Dollar continues. The fuel for the surge is provided by the fact that the US Fed revealed that it would hike interest rates and reduce its balance sheet. Meanwhile, the Canadian monetary policy remains unchanged. On Friday, the currency exchange rate was already approaching the 1.2800 mark. In addition, take into account

Fri, 28 Jan 2022 10:51:31 GMT

GBP/JPY reveals pattern

The GBP/JPY has continued to surge due to the support of the 50-hour simple moving average and the lower trend line of the channel up pattern. The pattern was spotted late on Thursday, as the pair pierced the 50-hour simple moving average's support, but still recovered. On Friday morning, the rate had approached the 155.00 mark and the weekly simple pivot

Fri, 28 Jan 2022 10:39:38 GMT

AUD/USD is below 0.7000

On Friday morning, the AUD/USD currency exchange rate passed below the 0.7000 mark. The 0.7000 level stopped the pair's declines in December 2021, October and September of 2020. The rate has traded above this level since July 2020. Meanwhile, it was spotted that the post-Fed rate announcement decline has been occurring in a channel down pattern. If the currency exchange rate continues

Fri, 28 Jan 2022 10:25:03 GMT

EUR/JPY approaches dominant trend line

Since January 21, the EUR/JPY has continues to trade in a channel down pattern. On Friday, the rate was approaching the upper trend line of a dominant pattern. The dominant pattern has been guiding the rate since mid-January. If the currency exchange rate breaks the dominant pattern's resistance line, the EUR/JPY might aim at the upper trend line of the

Thu, 27 Jan 2022 12:14:50 GMT

Gold drops back to 1,810.00

On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. By the middle of Thursday's trading, the price for gold had reached the 1,810.00 mark

Thu, 27 Jan 2022 12:05:48 GMT

USD/JPY reaches above 115.25 due to Fed

On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. On the USD/JPY charts this resulted in a crashing of the channel up pattern that

Thu, 27 Jan 2022 11:57:11 GMT

GBP/USD reacts to US Fed

On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. On the GBP/USD charts, by mid-Thursday, the event had resulted in the crashing of the

Thu, 27 Jan 2022 11:50:28 GMT

EUR/USD plummets due to Federal Reserve

On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. By the middle of Thursday's European trading, the event had resulted in a decline

Thu, 27 Jan 2022 10:36:43 GMT

USD/CAD surges above 1.2700

On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. On the USD/CAD charts, the event resulted in a surge above the 1.2700 mark, which

Thu, 27 Jan 2022 10:05:03 GMT

GBP/JPY finds support in SMA

On Thursday morning, the GBP/JPY currency exchange rate found support in the 50-hour simple moving average and the 154.00 mark. This resulted in a surge, which by 10:00 GMT appeared to be about to test the resistance of the 154.50 level. A passing of the resistance of the 154.50 level might aim at the combined resistance of the 155.00 mark, the

Thu, 27 Jan 2022 09:28:14 GMT

AUD/USD reacts to US Fed

On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. On the AUD/USD charts it was observed as a test of the 0.7180 resistance levels,

Thu, 27 Jan 2022 09:20:32 GMT

EUR/JPY remains in pattern

The EUR/JPY remains in the junior channel down pattern. However, for a short period of time, the currency pair had traded outside its borders, on Wednesday. On Thursday morning, the currency exchange rate had declined and found support in the 128.50 mark. If the currency pair continues to surge, it would have to pass the resistance of the 50-hour simple

Wed, 26 Jan 2022 16:55:12 GMT

USD/CAD reacts to central banks

On January 26, the Bank of Canada made a Rate Statement. In general, the bank kept its Overnight Rate at 0.25% and is set to keep its investments in government bonds constant. However, the markets could have reacted to the news that the bank would remove its exceptional forward guidance on its policy interest rate. On the release, the USD/CAD reacted

Wed, 26 Jan 2022 16:46:58 GMT

GBP/JPY breaks pattern

A fundamental announcement of the Japanese government beat down all Japanese assets and the Yen on Wednesday. Namely, the government announced recently that it would support Ukraine and NATO in a potential war with Russia. The news have caused a gradual fundamental surge of the rate, which broke the post January 12 channel down pattern. In addition, during late Wednesday's

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