During Monday morning, the EUR/USD was trading at the 1.1030 area. The pair could gain support of the lower boundary of the short-term descending channel and reverse north in the nearest future. Otherwise, some downside potential could prevail. Economic Calendar Analysis This week, on Tuesday, minor spike in volatility could occur due to the US Durable Goods Orders Release at 13:30 GMT. This
The recently discovered wedge pattern enforced its borders on Thursday. The metal's price bounced off its lower trend line and reached the January 21 high level. By the middle of Friday's London trading hours, the commodity price had bounced off the high level and reached for the support of the 55 and 100-hour simple moving averages near 1,559.00. Economic Calendar Analysis There are
The decline of the USD/JPY stopped at the 109.27 level and began a retracement back up. The retracement reached the 55-hour simple moving average on Friday, which signaled that the rate is no longer oversold. In the meantime, Dukascopy Analytics spotted a channel down pattern, which has guided the rate since the middle of January. Namely, it starts with the sideways
On Friday morning, the GBP/USD traded with almost 100 pip volatility during a period of one hour. The volatility ended with the rate trading below the 1.3100 level. At the time of writing, the pair was finding support in the 1.3080 level, which was strengthened by the support of the 100-hour simple moving average. Economic Calendar During the last week of January, most
As forecast on Thursday, the EUR/USD declined. The push for the rate's decline was the ECB Monetary Policy Statement, which revealed that the creation of the EUR currency would continue. Namely, there will be more EUR in circulation, which decreases the value of the currency. By the middle of Friday's trading, the rate had almost touched the 1.1030 level. Moreover, the
On Thursday, gold continues to trade around the hourly simple moving averages. In the meantime, Dukascopy Analytics spotted a rising wedge pattern that captures the rates movements after the Iran-US fundamental surge. If the price continues to follow the pattern, it should eventually reach the resistance of the 1,570.00 level. Economic Calendar Analysis The week's scheduled event historical data tables have been published.
By the middle of Thursday's London trading hours, the USD/JPY had hit the low level of 109.50. In addition, during the decline that has been occurring since the Bank of Japan announcement on Tuesday the pair has passed the lower trend line of a channel up pattern. Japanese Yen Appreciated on Raised Growth Forecast On Tuesday, January 21, the Japanese
The GBP/USD managed to pass the resistance of the 1.3100 level. On Wednesday, the rate surged to the 1.3150 level, below which it began to trade sideways. In the meantime, the high level 1.3119 of December 17 had begun to provide support. In general, the rate was expected to continue to consolidate by trading sideways between 1.3119 and 1.3150 until
On Thursday morning, the EUR/USD continued to trade near previous day's trading levels, as it fluctuated near the 1.1080 mark. However, the rate had pierced the support of the 1.1080 level. Moreover, the rate failed two times to pass resistance levels near 1.1100. These facts combined signal that the currency exchange rate would decline. Economic Calendar Analysis On Thursday, the European Central
Since the middle of Tuesday's GMT trading hours, the yellow metal has fluctuated in a ten dollar range between 1,550.00 and 1,560.00. Both of these levels were providing the psychological impact on the price that round levels have on gold. In addition, the resistance of the 55-hour simple moving average was located just below the 1,560.00 level. Economic Calendar Analysis The week's scheduled
The decline of the USD/JPY that was caused by the Bank of Japan continued after retracing back up to the resistance of the 55 and 100-hour SMAs. Eventually, a low level was reached at 109.80, from where another surge started. By the middle of Wednesday's trading, the surge had stopped, as the rate was being squeezed in between hourly simple moving
After trading just above technical support levels that are located from 1.3025 to 1.3035, the GBP/USD began to surge and was heading to the 1.3100 level. The 1.3100 level was expected to stop the surge. Moreover, a weekly R1 pivot point was providing resistance at 1.3104. UK Average Earnings Index The British Pound appreciated against the US Dollar, following the UK Average
In the aftermath of breaking the resistance of the 55-hour SMA, the EUR/USD reached the resistance levels near 1.1120 and bounced off them. By the middle of Wednesday's trading session, the rate had once more declined to the support of the 1.1080 level. In general, the rate was expected to trade above the 1.1080 level until the resistance of the 55
The surge of the yellow metal's price did not reach the 1,570.00 level. The pair reversed its surge at 1,568.90. On Tuesday morning, the rate had declined to trade sideways between 1,554.00 and 1.558.00. In the meantime, the metal had retreated to the support of the hourly simple moving averages. With it, gold no longer was under overbought pressure. Economic Calendar Analysis The
The squeeze of the rate between the 55-hour SMA and a pivot point ended, as the Bank of Japan released a monetary policy announcement. The announcement caused a break out of the USD/JPY down by strengthening the value of the Japanese Yen. By the middle of the day, the rate had recovered by finding support in the 200-hour SMA. Economic Calendar The week's
A surge of the GBP was caused by the better than expected UK employment data. Most impact was done by the UK Average Earnings Index. The data allowed the GBP/USD pair to pass a strong technical resistance cluster. This event was followed by a surge, which had no technical resistance as high as 1.3100. Economic Calendar The week's scheduled event historical data tables
The decline of EUR/USD did not reach the technical support of the pivot points below 1.1070, as the rate reversed at the 1.1080 level. From there, the rate began a surge, which by the middle of the day's London trading hours had reached the 1.1110 level and broken the resistance of the 55-hour simple moving average. Economic Calendar Analysis On Thursday, the European
Dukascopy Analytics wrote on January 7 that the price for Dukascoin could surge. The surge, which could be better described as a jump occurred on January 10, when the DUK+/EUR rate reached the 2.00 level. The surge was followed by a consolidating decline and sideways trading, which ended on Friday January 17, as a new high level was touched. Daily Candle
Instead of consolidation a surge has occurred on the hourly candle chart. During Monday's early trading hours, the metal's price reached above the 1,560.00 level. In general, if the hourly simple moving averages provide the price with support, it could surge up to the 1,570.00 level. Economic Calendar Analysis The week's scheduled event historical data tables have been published. Click on the link
The resistance of the 110.25 levels held on Friday. It caused a decline down to the 110.00 level, where the rate found psychological support from the round exchange rate level and the 55-hour simple moving average. By the middle of Monday's trading, the rate was being pushed up by the 55-hour SMA into the resistance of the 110.20 level. In general,
The rate failed to pass the resistance of the 1.3200 level and began a decline, which by the middle of Monday's trading session had touched the 1.2963 level. The rate was expected to consolidate by retracing back up or trading sideways before resuming its decline. UK Retail Sales The British Pound depreciated against the US Dollar, following the UK Retail Sales
As it was forecast on Friday morning, the EUR/USD has declined. However, the rate dropped a lot sharper than it was expected. In general, the rate was expected to continue the decline sooner or later to support levels below 1.1070. Economic Calendar Analysis Throughout the week releases from the European Union will be published. On Thursday, the European Central Bank will announce
Since Wednesday, the XAU/USD exchange rate has been consolidating in the 1,555.00 area. Given that the rate is squeezed by 55-, 100- and 200-hour SMAs, it is likely that gold could continue to consolidate against the US Dollar in the short run. Economic Calendar Analysis Next week's scheduled event historical data tables have been published. Click on the link below to read the
On Friday morning, the USD/JPY currency pair was testing the resistance level formed by the weekly R1 and the monthly R2 at 110.25. If the given resistance holds, it is likely that some downside potential could prevail. Economic Calendar Next week's scheduled event historical data tables have been published. Click on the link below to read the article. Read More: 20.01-24.01 Event Historical