The surge continues, as the metal's price has reached the 1,950.00 mark at mid-Wednesday. Meanwhile, analysts have spotted that the surge could have occurred in a yet unconfirmed channel up pattern. Higher above, note the 1,970.00 and 1,980.00 levels that have acted as resistance in July. Above these levels, the 2,000.00 mark is expected to slow down the surge. However, in
The pair continues to act strange, as the markets expect Bank of Japan manipulation. On Tuesday, the pair suddenly dipped below 148.80, before returning to previous levels. It appears as if someone wanted to trigger the stops of the buyers below the 149.30/149.50 range. Meanwhile, the 149.80 level continues to act as resistance. A move above the 149.80 level is
By mid-Wednesday, the pair continued to bounce between the support range at 1.2040/1.2050 and resistance at 1.2218/1.2225. A decline might look for support in the 1.2120 level and the zone above it. Further below, Note the two October low level zones at 1.2105/1.2110 and 1.2040/1.2050. In addition, the weekly S1 could provide support at 1.2060. On the other hand, a potential
The EUR/USD has passed above the resistance range at 1.0555/1.0565 However, the pair has not managed to reach above the 1.0600 mark and the weekly R1 simple pivot point. An extension of the ongoing surge would have to break the 1.0600 mark and the weekly R1 simple pivot point, before approaching the October high level range at 1.0635/1.0640. On the other
Gold has reacted to a run to safety. Before the weekend, markets went into safe haven assets, as an escalation of the war in Middle East was expected. The commodity price reacted to the events with a surge to the resistance of the 1,932.50 level. Afterwards, a retracement to the support of the 1,910.00 level occurred. On Tuesday, the
The USD/JPY currency exchange rate has reached above the 148.50/149.00 range. The previous resistance appears to have turned into support. However, the 149.80 level has acted as resistance, before the pair has hit the 150.00 mark. A move above the 149.80 level is expected to face major resistance in the 150.00 mark. Both the retail sector and large banks consider
The currency exchange rate has bounced off the resistance of the 1.2218/1.2225 range and declined to as low as 1.2150 during the early hours of Tuesday. An extension of the ongoing decline might look for support in the 1.2120 level and the zone above it. Further below, Note the two October low level zones at 1.2105/1.2110 and 1.2040/1.2050. In addition,
The EUR/USD has confirmed the 1.0500 mark as support. Meanwhile, resistance is found at 1.0555/1.0565. In addition, the pair respects the hourly moving averages. In the case of a decline of the currency rate the pair would have to pass below the 50-hour simple moving average at 1.0535, before approaching the support of the 1.0500 mark. However, if the pair surges
The surge of gold continues, as on Wednesday the metal reached above 1,865.00 and touched the next resistance zone. Namely, the commodity has reached the 1,877.40/1,879.90 range. A passing above the 1,880.00 level is expected to result in the metal's price aiming at the 1,895.00 level and the 1,900.00 mark. On the other hand, note that the each breaking of a
The USD/JPY has narrowed its sideways trading range to 148.50/149.00. Technical levels continue to be ignored. Support below 148.50 is found at 148.15/148.30. Resistance above 149.00 is located at 149.30/149.50. A move above the 149.50 mark is expected to face major resistance in the 150.00 mark. Both the retail sector and large banks consider the 150.00 level, where the
The GBP/USD currency exchange rate has passed above the 1.2260/1.2285 range, the 1.2300 mark and the weekly R1 simple pivot point at 1.2317. However, after the gains, the pair started to retrace backwards. It was expected that it would look for support in previous resistance levels. The Pound is highly likely going to find support against the US Dollar in
The EUR/USD has managed to reach above the 1.0600/1.0620 resistance. During the second part of Wednesday's trading, it appeared that the range was being confirmed as support. Meanwhile, it is clear that the 50-hour simple moving average provided the needed support for the push through 1.0620. A continuation of the Euro surge against the US Dollar is expected to face
The price for gold has started to recover, as it has reached above 1,855.00. Meanwhile, prior support and resistance zones have been marked on the chart. In addition, note that the commodity might be trading in a channel up pattern, as it has been respecting an ascending resistance line that connects October high levels. A potential decline of the commodity
Since the bounce off from the 150 mark, the USD/JPY has been trading between two zones. Support is found at 148.15/148.30. Resistance is located at 149.30/149.50. Meanwhile, it appears that the rate is ignoring the simple moving averages and the weekly simple pivot point. A move above the 149.50 mark is expected to face major resistance in the 150.00 mark.
The GBP/USD is facing the resistance zone that is located at 1.2260/1.2285. Meanwhile, on Tuesday support was being provided by the 50-hour simple moving average. A breaking of the 1.2260/1.2285 range is expected to result in a surge of the Pound against the US Dollar. The potential surge would face resistance at the 1.2300 mark and the weekly R1 simple
The EUR/USD is facing the resistance of the 1.0600/1.0620 zone. The zone has previously acted as support and resistance. A bounce off from the 1.0600 level is expected to result in the rate looking for support in the 1.0560 level and the 50-hour simple moving average. Below this level, it is highly likely that the rate could stop at the
The start of the war in Israel has caused a run to safety. Market participants have been observed to be buying both the US Dollar and gold. Due to this reason, the surge of the price for gold has been rather low. The price jumped and has stuck near the 1,850.00 mark. For the price to decline it would have
Despite the US Dollar moving due to the publication of monthly US employment data and the war in Israel, the USD/JPY has not reacted. Namely, in theory the supposed safe haven currency, the Japanese Yen, should have decline due to the US employment, but strengthened at the start of the conflict in the Middle East. Instead, the Yen slightly
The financial markets have ignored technical levels due to fundamental events taking place. On Friday, the US employment data caused high volatility and an eventual decline of the US Dollar. On Monday, the Dollar recovered because of a run to safety that started due to the war in Israel. During the events the GBP/USD pair's channel down pattern initially held.
The EUR/USD has ignored technical levels due to fundamental events taking place. On Friday, the US employment data caused high volatility and an eventual decline of the US Dollar. On Monday, the Dollar recovered because of a run to safety that started due to the war in Israel. By mid-Monday it was observed that the pair had resumed
Gold has reached below 1,920.00 level's support. However, it has not yet approached further support levels. A decline is expected to look for support in the low level zone at 1,805.00/1,808.00. Afterwards, the 1,800.00 mark is most likely going to act as support. On the other hand, a recovery of the commodity price could face resistance in the 50 and 100-hour
The USD/JPY pair has booked a lower low and lower high level. Namely, the low is at 148.25 and the high is at the combination of the weekly simple pivot point and the 50-hour simple moving average at 149.08. By late Thursday's trading, the pair was set to once again reach the 148.25 level. A move below the 148.25
On Thursday, the GBP/USD currency exchange rate passed the resistance of the 200-hour simple moving average that had kept the rate down since mid-Wednesday. After confirming the moving average as support, the rate approached the upper trend line of the channel down pattern that had guided the rate down since August 30. If the pair breaks the pattern, resistance could
The EUR/USD recovery has reached above the 1.0530 level and the 100-hour simple moving average. The 100-hour SMA was keeping the rate down on Wednesday. On Thursday, the rate reached the resistance of the 200-hour SMA near 1.0540. A move above the 200-hour SMA near 1.0540, would highly likely result in the pair testing the resistance of the weekly simple