The support of the dominant pattern's lower trend line was enough to cause a breaking of the upper trend line of the junior pattern. The pair broke its resistance on a third attempt. In addition, the pair passed the 50-hour simple moving average's resistance. Meanwhile, the weekly S1 simple pivot point was ignored. However, the 0.7180 mark has been
The EUR/JPY currency exchange rate has continued to trade in the channel down pattern, which was discovered on January 25. At the start of Thursday's US trading session, the rate was located at the upper trend line of the channel. Meanwhile, it was spotted that the 50-hour simple moving average has been acting both as resistance and support. In the
At the start of Tuesday's US trading, the price for gold jumped above the 1,850.00 mark. The event marked the rate reaching November levels. If the commodity price continues to surge, it could find resistance in round price levels like 1,855.00, 1,860.00 and 1,865.00. That is assumed due to the fact that these levels impacted the price during November. However, a
The USD/JPY has bounced off the January low level near 113.50. The following recovery has occurred in a channel up pattern. Most recently, on Tuesday, the rate encountered resistance in the form of the 200-hour simple moving average and the weekly simple pivot point near 114.15. A decline of the pair might look for support in the combination of the 50-hour
The GBP/USD has been declining in a broad channel down pattern since January 13. Meanwhile, the rate has made sharper moves down in a junior pattern since January 20. Future forecasts were based upon whether the junior pattern holds. In addition, note that the market participants were expecting the US Federal Reserve announcements on Wednesday at 19:00 GMT. A move above
The EUR/USD passed the support of previous January low levels near 1.1275. However, the pair has close by the December 21 and 22 low level zone above the 1.1260 mark. Meanwhile, the US Dollar is expected to strengthen, as the markets expect Wednesday's hawkish Federal Reserve announcements at 19:00. In the near term future, the pair could make an
On January 24, the USD/CAD bounced off the resistance of the 1.2700 level. Since then, the rate has been trading sideways above the 1.2630 mark and the weekly R1 simple pivot point at 1.2632. A decline below the 1.2630 level, the rate might aim at the 50-hour simple moving average near the 1.2600 mark. Below the 1.2600 level, the weekly simple
Since January 12, the GBP has been declining against the Japanese Yen in a large scale channel down pattern. The decline started, as the rate bounced off the 2022 high level of January 5 at 157.80. Most recently, on January 24, the rate bounced off the pattern's lower trend line and started a recovery that encountered the 50-hour simple moving
On Tuesday, the AUD/USD currency exchange rate approached the combined resistance of the trend line that connects the rate's recent highs and the 50-hour simple moving average near 0.7150. If the currency exchange rate passes above the 0.7150 mark, it would have no technical resistance as high as the 0.7200 mark, the weekly simple pivot point at 0.7210 and the 200-hour
A review of the EUR/JPY currency pair on January 25th revealed that the rate has been declining in channel down patterns. In regards to the short term, the junior channel should be watched. In the meantime, the rate was approached by the 50-hour simple moving average. In the case that the rate is pushed down by the 50-hour simple moving
Despite being pierced, the 1,815.00 mark provided enough support to the yellow metal's price on Thursday for a surge to begin. The surge eventually made an attempt to approach the 1,830.00 summer high level zone, but failed, as it bounced off the 1,829.30 level. By the middle of Friday's trading, the price had retreated below the 1,825.00 level. Meanwhile, it
The decline of the USD against the Japanese Yen has reached below the 114.00 mark and the support zone at 113.87/113.96. Moreover, during the middle of Friday's trading, the rate retraced back up and confirmed the zone as resistance. If the currency exchange rate surges above the resistance zone at 113.87/113.96 and the 114.00 mark, it could aim at the
The GBP/USD currency exchange rate has been trading between the 1.3700 and 1.3750 levels since the US CPI surge. Most recently, on Friday the rate was approached by the 50-hour simple moving average. Meanwhile, the pair almost in all cases ignored the support of the weekly R2 simple pivot point at 1.3709. If the currency exchange rate starts a surge, it
The EUR/USD has been trading between a support zone that surrounds the 1.1450 mark and a resistance zone at 1.1480, since the middle of Thursday's European trading. However, on Friday, the pair was approached by the additional support of the 50-hour simple moving average, which could push the rate up. In the case of the 50-hour simple moving average pushing
The USD/CAD bounced off the lower trend line of the channel down pattern at mid-day on Thursday. By the middle of Friday's trading, the currency pair had made an attempt to pass resistance levels near 1.2515/1.2520 and failed at it. In regards to the near term future, if the rate declines, it could look for support in the 1.2450
The GBP/JPY has continued to fail at attempts to pass the the two January high level zones. In the second part of Thursday's trading, the failures resulted in a decline of the currency pair. On Friday morning, the rate had reached the 156.00 level and the support zone that is located above it at 156.00/156.12. If the currency exchange rate
The AUD/USD currency exchange rate's surge eventually bounced off the 0.7315 level. The event was followed by a decline. On Friday morning, the decline of the pair found support in the technical levels at 0.7264/0.7280. In that zone, the weekly R1 simple pivot point, the 50-hour simple moving average and a high and low level range was located. If
The EUR/JPY currency exchange rate approached the January 4 high level on Thursday. However, the rate did not even attempt a proper test of the resistance of the high level, before starting a decline. The following decline passed the 131.00 mark and the technical levels around it. By the start of Friday's European trading, the currency pair had reached
On Wednesday, the price for gold eventually passed the resistance of the 1,825.00 level. However, the price did not reach the 1,830.00 mark and the summer high level zone. The price bounced off the 1,828.45 mark and started a decline. By the start of Thursday's US trading, the decline had passed the support of the 50-hour simple moving average near
The decline of the USD/JPY that was caused by the US Consumer Price Index release has passed all expectations of the USD bears. At the start of Thursday's US trading hours, the USD/JPY rate was already passing support levels near 114.20. In the near term future, the pair was expected to eventually reach the 114.00 mark, which could stop a
The surge of the GBP/USD that was caused by the US Consumer Price Index release has reached the 1.3750 level's resistance. The round exchange rate level forced the pair into a retracement back down just before mid-day on Thursday. The consolidating decline appeared to be finding support in Wednesday's high level at 1.3715. If the GBP/USD currency exchange rate continues to
As expected, the EUR/USD surge quickly reached the weekly R2 simple pivot point and the 1.1450 mark. By the middle of Thursday's trading, the rate had found resistance in the 1.1480 mark. A continuation of the surge would have to pass the 1.1480 level, before aiming at the resistance of the weekly R3 simple pivot point at 1.1512. However,
On Wednesday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price index data was released. The USD reacted by declining. On USD/CAD charts the event resulted in a decline to the lower trend line of the channel down pattern that has guided the rate since January 6. After a short period of sideways trading, on Thursday, the
Throughout January, the GBP/JPY currency exchange rate has been making attempts to pass two high level zones that continue to act as resistance. On Wednesday, the pair bounced off the 157.72/157.77 zone and retreated to the 157.80 mark. During the early hours of Thursday's trading, the pair had recovered and moved above the resistance zone of 157.38/157.45. If the GBP continues