Gold is starting to show some signs of a recovery.
The strengthening of the US Dollar early today has pushed Gold even lower down to 1,222.00.
The US Dollar bounces off the 55-hour SMA with a surge early on Thursday.
The combined resistance of the 55-, 100- and 200-hour SMAs should limit gains above 1.17 during the following trading sessions.
Strong bearish sentiment has pushed the Pound back to its 2018 low.
The Euro is likely to accelerate from the 200-hour SMA.
The 200-hour SMA is likely to guide the pair in this session.
A surge is expected to follow if the 200-hour SMA at 1.17 is breached.
The 200- and 100-hour SMAs are likely to guide the pair in this session.
The decline of the bullion started later than expected on Thursday. However, it still trades in a descending channel pattern.
The rather weak junior ascending pattern of the USD/JPY remains in force. Namely, the rate continues to surge on Friday,
On Thursday the main effort in analysing the GBP/USD was spent marking the new junior descending pattern.
The Euro has extended its retreat against the US Dollar more than it was expected.
The bullion gained some ground on Thursday after the massive fall experienced previously.
The US Dollar has skyrocketed against the Japanese Yen,
On Thursday the main effort in analysing the GBP/USD was spent marking the new junior descending pattern.
The resistance provided by various resistance levels on the daily and hourly charts has proven itself strong enough to push the EUR/USD currency exchange rate lower.
On Wednesday the yellow metal reached the lower trend line of the speculated channel up medium term pattern.
There was a large increase of volatility on the USD/JPY. However,
During the last few trading session the GBP/USD pair has continued to trade sideways between and around two hourly simple moving averages.
By the middle of Wednesday's trading session the EUR/USD pair had been beaten down by a resistance level that can be spotted on the daily chart.
The yellow metal has booked more gains against the US Dollar, as it continues to surge without showing signs of stopping.
The US Dollar has fallen against the Japanese Yen more than it was expected.
The Pound has gained more ground against the US Dollar. However,