The 55-hour SMA failed to provide support to the EUR/USD on Wednesday, as the rate retreated to the support of the 1.2140 mark. This level has been providing the rate with support since the middle of Monday's European trading hours. In the near term future the support could fail due to the additional resistance of the 100-hour simple moving average, which
On Wednesday, the yellow metal's price tested the resistance of the 1,863.00 level, which has been keeping the price down throughout this week. The test resulted in a decline to the support of the 55-hour SMA, which was expected to push the rate up to once again make an attempt to pass the 1,863.00 mark. Economic Calendar Analysis During the week there
The support of the 55-hour SMA failed to push the rate up. Instead, as the technical support level failed, the rate began a sharp decline, which reached the support levels near 103.50. The rate bounced off the support levels and by the middle of Wednesday's European trading hours, the rate had recovered to the 104.00 level. Economic Calendar During the week, there
The GBP/USD broke the channel down pattern and reached the 1.3700 level. By the middle of Wednesday's GMT trading hours, the rate had bounced off this level's resistance. In theory, the currency pair was expected to reach for the support of the weekly simple pivot point and the 200-hour simple moving average at the 1.3600 level. Economic Calendar During the week there
The sideways trading of the EUR/USD currency exchange rate ended and resulted in a surge to the 1.2220 level. On Wednesday morning, the rate bounced off this level and declined to the 55-hour simple moving average at 1.2175. Near term forecasts were based upon whether or not the SMA provides support. Economic Calendar Analysis During the week there will be minor data sets
The yellow metal's price has gradually recovered and reached the 1,860.60 level. At that level the pair encountered the resistance of the 55-hour simple moving average and a 23.60% Fibonacci retracement level. Future scenarios were based upon whether or not the resistance level holds. Economic Calendar Analysis During the week there will be minor data sets published, which could cause initial reactions. Traders
Since midnight to Monday, the USD/JPY has continued to trade sideways around the 104.20 level. It appears that the sideways trading occurred in the borders of the 104.00 and 104.40 levels. At mid-day on Tuesday, it was spotted that the currency exchange rate was approached by the support of the 55-hour simple moving average. Economic Calendar During the week, there will be
The GBP/USD found support in the 1.3450 level on Monday. This level provided enough strength for the rate to start a surge, which by the middle of Tuesday's GMT trading hours had reached the 1.3600 level. Meanwhile, a channel down pattern was spotted on the hourly candle chart. The pattern has been guiding the rate since the start of this
On Monday, the weekly S1 simple pivot point at 1.2161 failed to provide support. The EUR/USD reached the 1.2140 level, which stopped the pair's decline. Since then, the rate has been trading sideways between 1.2140 and 1.2180. In the meantime, the pair was being approached from above by the 55-hour simple moving average. Economic Calendar Analysis During the week there will be minor
In the aftermath of the prior publication, some feedback was provided by the readers. Namely, they did not understood, how the price could be 7.0000, if their charts show 5.8000. The situation occurred due to a 20% spread on Monday, January 4. Note that the publication uses the ask prices, but some use bid price charts. The ask price record
After reaching the 1,820.00 level at midnight to Monday, the yellow metal's price began a recovery. By the middle of the day's GMT trading hours, the metal had reached back up to the 1,850.00 level. In regards to the near term future, the price could retrace back up to the hourly simple moving averages, which were located above the 1,880.00
The USD/JPY passed the resistance of the 104.00 level at midnight to Monday. During the morning hours of Monday's trading, the pair was testing the resistance of the 104.20 mark. Meanwhile, the currency exchange rate had broken the upper trend line of the medium scale channel up pattern. Economic Calendar During the week, there will be minor data sets published, which could
The GBP/USD ended trading in a triangle pattern by breaking out downwards. By the middle of Monday's GMT trading, the currency exchange rate had declined below the 1.3500 mark. By declining below the 1.3500 level, the rate had passed the last technical support. Namely, the most close by technical support was the weekly S2 simple pivot point at 1.3433. Economic Calendar During
The first of the short term scenarios for the EUR/USD currency exchange rate has become reality, as the rate declined and reached the 1.2160 level by the middle of Monday's GMT trading hours. At the 1.2162 level, the pair encountered this week's simple S1 weekly pivot point, which could provide the rate with support. Economic Calendar Analysis During the week there will be
The yellow metal passed the combined support of the 200-hour simple moving average and the 1,896.60/1,908.40 zone. Moreover, the following decline touched the 1,880.00 level. In addition, the rate has broken the channel up pattern, which guided it since the start of December. Economic Calendar Analysis The week will end with the release of three US employment data sets. The releases will occur
The USD/JPY managed to pass the weekly R1 pivot point at 103.82. Since it occurred at mid-day on Thursday, the pivot point has been providing the rate with support. In the meantime, by the middle of Friday's trading, the rate has made three attempts to pass the resistance of the round exchange rate level of 104.00. Economic Calendar The week will
The support of the triangle pattern held out. On Friday morning, the currency exchange rate surged. By the middle of the day's GMT trading hours, the rate had reached the 1.3600 level. In the meantime, the rate was being squeezed in between the resistance of the 100-hour SMA and the support of the 200-hour SMA. Economic Calendar The week will end with
On Friday morning, the EUR/USD currency exchange rate passed the support of the weekly simple pivot point at 1.2236 and reached the 1.2220 mark. Meanwhile, the rate had no technical support as low as the weekly S1 pivot point at 1.2653. Due to that reason the pair could look for support in round exchange rate levels. Economic Calendar Analysis This week will end
Since Wednesday afternoon, the yellow metal's price has been kept down by the resistance of the 100-hour simple moving average. The SMA has been slowly moving up from the 1,923.00 to 1,930.00 levels. Meanwhile, it was spotted that the support zone above the 1,900.00 price level was providing support and keeping the price up. Economic Calendar Analysis On Wednesday, the FOMC Meeting Minutes
The resistance levels near the 103.00 mark failed, and the USD/JPY recovered. By the middle of Thursday's GMT trading hours, the currency exchange rate had reached the 103.70 level. In the near term future, the rate was expected to test the resistance of a weekly simple pivot point at the 103.82 level. Economic Calendar On Wednesday, the FOMC Meeting Minutes are set
During Wednesday's trading, the GBP/USD fluctuated between the 1.3550 and 1.3660 levels. By doing so, the currency exchange rate revealed a descending triangle pattern. In theory, the rate could remain in this pattern until January 12. In the meantime, the rate is being impacted by the hourly simple moving averages that are located in the borders of the triangle. Economic Calendar On
The 1.2350 level managed to provide enough resistance to the EUR/USD for it to decline. Eventually, after two attempts to pass the resistance, on Thursday morning, the rate plummeted to the 1.2250 level. During the drop, the rate passed the support of the hourly simple moving averages and the weekly R1 simple pivot point. Economic Calendar Analysis On Wednesday, the FOMC Meeting Minutes
The resistance zone of 1,953/1,965.70 held out since the middle of Tuesday. At mid-day on Wednesday, the resistance caused a drop, which retraced back down to the 1,930.00 level. In the meantime, the support of the hourly simple moving averages had approached the commodity price. Economic Calendar Analysis On Wednesday, the FOMC Meeting Minutes are set to be released at 19:00 GMT. On
In the aftermath of touching the 102.60 level, the USD/JPY recovered on Wednesday morning. By the middle of the day, the rate was testing technical resistance levels near 102.80/102.90. Future forecasts depended on whether or not the technical levels and the 103.00 mark provide resistance. Economic Calendar On Wednesday, the FOMC Meeting Minutes are set to be released at 19:00 GMT. Expect