As it was expected, due to the rate passing the support of the 100-hour SMA, the rate reached the combined support of the 23.60% Fibonacci retracement level and the 200-hour simple moving average. On Wednesday, the rate was recovering from the support of these levels and could soon approach the resistance of the 55-hour SMA, which kept the metal down throughout
On Wednesday, the USD/JPY remained at the same level, where it was on Tuesday morning. However, the rate had made a sure upwards and bounced off the 103.65/103.70 zone. By looking more into it, it was discovered that this zone provided the rate with support at the end of November and the start of December. In addition, it was
On Wednesday, the recent low and high levels that were caused by EU and UK trade talks were used to set Fibonacci retracement levels. In the meantime, it was spotted that this week the rate has been trading in a wide channel up pattern. In the near term future, the rate was expected to trade sideways, as it faced strong
On Tuesday, the EUR/USD bounced off the resistance line that has kept it down since December 17 and declined. The decline eventually reached the support of the 1.2150 level, which was strengthened by the weekly S1 simple pivot point. In regards to the near term future, the rate could bounce between the 1.2150 mark and the mentioned resistance line until next
Since the middle of Monday's European trading hours, the yellow metal has traded between the 55 and 100-hour simple moving averages. The situation changed on Tuesday morning, as the rate passed the support of the 100-hour SMA. However, this did not result in the previously expected decline to the support of the 23.60% Fibonacci retracement level at 1,860.60 and the
During Monday's European noon trading hours, the USD/JPY passed the support of the weekly simple pivot point, a lower trend line of a channel up pattern and the 55 and 100-hour simple moving averages. However, this did not result in a sharp decline, as the rate began to trade sideways. Economic Calendar The week of Christmas is set to have an
Since Monday morning, the GBP/USD had recovered, as the rate reached back up to trade in the 1.3400/1.3500 zone. Previously, over the weekend there were statements made by one of the UK Ministers, which signalled that the UK would not back down from its position on trade with the EU. Moreover, the minister of health announced a new strain
The EUR/USD ended Monday's high volatile trading at the 1.2240 level, where it met with the resistance of a descending trend line. By the middle of the day's European trading hours, the currency exchange rate had declined and passed the support of three technical levels. Due to that reason, the minor decline was expected to continue. Economic Calendar Analysis The week of
As it was expected, as soon as the DUK+/EUR currency exchange rate ended its consolidation by retracing down, the rate resumed its surge and reached a new high level at 2.3820. However, after reaching this level a new retracement back down started. Clues in regards to where the decline would end could be found in the information about the set
After reaching above the 1,905.00 mark, the yellow metal's price plummeted on Monday morning, as it reached back to the support of the 200-hour simple moving average at 1,855.58. From that level, the rate retraced back up to trade between the support of the 100-hour SMA and the resistance of the 55-hour SMA. Future forecasts were based upon which of the
The USD/JPY has continued to recover, as the rate reached the 103.80 mark on Monday morning. However, the touching of a new high level was followed by a decline back to the support levels near 103.40. In the meantime, a channel up pattern was added to the currency exchange rate, which represents the rate's recovery from the 103.00 mark. Economic Calendar The
The GBP/USD started the week with a gap down and a following decline to the 1.3200 level. The move was attributed to the UK and EU failing to negotiate trade and troubles with the coronavirus. Namely, over the weekend there were statements made by one of the UK Ministers, which signalled that the UK would not back down from its
The EUR/USD started the week's trading with a 100 base point volatility between 1.2130 and 1.2230. In the meantime, it appeared that the rate was ignoring technical levels. It occurred due to the fact that major fundamental events were going on. Namely, the EU and UK trade talks impacted the Euro. Meanwhile, a $900 billion stimulus package was set to be
The XAU/USD exchange rate touched the 1,895.00 level. In general, the metal's price was expected to test the resistance of the 1,900.00 level, which could force the rate into a consolidation by either trading sideways or retracing back down. Economic Calendar Analysis There are no more notable events for the metal this week. However, during Thursday's trading hours the next week's event
The USD/JPY currency pair remains under pressure of the 100-hour moving average near 103.60. Thus, some downside potential could prevail in the market. Note that the pair could gain support from the weekly S3 at 103.00. Economic Calendar There are no more notable events for the rate this week. However, during Thursday's trading hours the next week's event review is set to
During Friday morning hours, the GBP/USD exchange rate declined to the support provided by the 100-hour SMA near 1.3470. The rate could reverse north and re-test the resistance level formed by the weekly R2 at 1.3626. The British Pound depreciated against the US Dollar, following the BOE Monetary Policy Summary release on Thursday at 12:00 GMT. The GBP/USD exchange currency
Despite the drop, which was caused by the FOMC statement late on Wednesday, the EUR/USD currency pair continued its surge. However, note that the pair remains under pressure of the weekly R3 at 1.2277. The Euro depreciated against the US Dollar, following the FOMC Statement release on Wednesday at 19:00 GMT. The EUR/USD exchange currency rate lost 43 pips or 0.36%
The surge of the metal that occurred after confirming the 1,850.00 level as support reached above the 1,895.00 level by the start of Thursday's US trading hours. In general, the metal's price was expected to test the resistance of the 1,900.00 level, which could force the rate into a consolidation by either trading sideways or retracing back down. Economic Calendar Analysis There are
The USD/JPY has continued to decline, as by the middle of Thursday's GMT trading hours, the rate had reached and pierced the 103.00 level. The near term future depended on what would happen at the 103.00 mark. Economic Calendar There are no more notable events for the rate this week. However, during Thursday's trading hours the next week's event review is set
During Thursday's trading, the GBP/USD reached the high level of 1.3625, where it encountered the resistance of a weekly R2 simple pivot point. As the rate reached the pivot point, the Bank of England made a rate statement and a monetary policy summary. The British Pound depreciated against the US Dollar, following the BOE Monetary Policy Summary release on Thursday
Despite the drop, which was caused by the FOMC statement late on Wednesday, the EUR/USD continued its surge. By the middle of Thursday's European trading hours, the currency exchange rate had reached the 1.2260 level. The Euro depreciated against the US Dollar, following the FOMC Statement release on Wednesday at 19:00 GMT. The EUR/USD exchange currency rate lost 43 pips or
The surge of the yellow metal's price reached the resistance of the 1,865.00 mark at mid-day on Wednesday. This round price level provided resistance, which forced the metal into a decline. The following decline reached the previous resistance zone that surrounds the 1,850.00 level and confirmed it as support. During early US trading hours, the metal was resuming its surge. Economic Calendar
The decline of the USD/JPY has continued, as the rate touched the 103.30 level at mid-day GMT hours on Wednesday. However, after touching the 103.30 level, the rate recovered. The recovery reached the resistance of the 103.60 level, from which it could bounce off and resume the decline. Economic Calendar On Wednesday, the day would end with the top event of the
The GBP/USD currency exchange rate has reached a new 2020 high level, as on Wednesday the rate passed the 1.3520 mark. This event is signalling that the rate could reach new highs. However, at mid-day on Wednesday, the rate bounced off the resistance of the 1.3550 level. Economic Calendar On Wednesday, the day would end with the top event of the