Bulls continue to dominate the Eurozone single currency versus the Japanese Yen during the previous session. The pair rose above the 55-, 100-, and 200-hour SMAs on Tuesday and has since been trading above this cluster. The common European currency tested the upper boundary of a junior ascending channel towards the end of the trading session on Tuesday
The yellow metal has depreciated 0.35% against the US Dollar starting from 22:00 GMT on Tuesday until 07:00 GMT on Wednesday. The pair tested the bottom boundary of the trend line at 1,192.77 on Wednesday morning.
The Japanese Yen depreciated against the US Dollar during the morning hours. The main pair reached the 100– hour simple moving average at midnight to Wednesday which paused the surge. In general, the US Dollar recovered 47 pips or 0.43%.
The Sterling has strengthened significantly against the US Dollar since mid-Friday.
Despite flashing bearish signals, EUR/USD failed to halt at the weekly R1 on Tuesday.
Upside momentum continues to prevail with the NZD/USD currency pair, thus pushing it higher for the fourth consecutive trading session. This short-term appreciation has sent the Kiwi to a two-week high level at 0.6673.
As expected, the US Dollar made a brief retracement towards the 61.80% Fibonacci retracement level on Monday. However, after hitting the 61.80% Fibo at 1.3089, the currency pair pulled back.
As shown on the 1H chart that bulls were guiding the AUD/USD currency pair on Monday. The Australian Dollar strengthened against the US Dollar during the end of the trading session yesterday. The exchange rate broke out through the upper boundary of an ascending channel and also tested the weekly R1 at 0.7357.
A strong support cluster formed by the combination of the 55– and 100-hour simple moving averages and the weekly pivot point at 126.12 provided significant support for the EUR/JPY exchange rate on Monday and thus pushing the pair out of the upper boundary of a dominant descending channel.
The yellow metal has appreciated 2.50% against the US Dollar since August 16.
The US Dollar depreciated against the Japanese Yen bounced off a junior ascending channel at 109.178 in the midnight of Monday's trading. The whole movement decrease totaled negative 90 pips or 0.81%.
Strong bullish sentiment was guiding the GBP/USD exchange rate on Monday.
Following a rather still morning, the Euro hit the 55-hour SMA at 1.14 mid-Friday and consequently accelerated 132 pips until Tuesday morning when EUR/USD tested the weekly R2 near 1.1550.
Upside risks prevailed in the market on Friday, as the currency pair ended the session with a 59 pips gain. Bulls dominance in the market over the NZD/USD exchange rate resulted in the price to breached the 200-hour simple moving average.
The US Dollar weakened against the Canadian Dollar, following the Canadian Consumer Price Index release on . The USD/CAD currency pair lost 106 pips or 0.81%. The data release had a significant impact on the currency pair after which the candles continue decreasing to the 1.3010 area.
The Australian Dollar continues to appreciate against the US Dollar in a junior ascending channel for the third consecutive trading day. This upside sentiment was stopped by the 200-hour simple moving average and the upper border of the ascending channel pattern during the close of Friday's session.
A one-week ascending channel has guided the movement of the Eurozone single currency against the Japanese Yen. Moreover, the 55– and 100-hour SMAs was providing support for the exchange rate, as can be observed on the 1H chart.
The yellow metal's price on Monday morning continued the surge, which began on late Friday. On Friday, the pair managed to break the resistance of the 55-hour SMA and a monthly pivot point.
The US Dollar has surged against the Japanese Yen in the second half of Friday's trading and on Monday morning.
The GBP/USD currency exchange rate on Friday broke the resistance of the dominant medium scale pattern. The event resulted in an increase of volatility, as the rate bounced around without a clear direction.
The common European currency met on Friday and did not manage to pass the resistance of the 200-hour simple moving average against the US Dollar.
Positions Today Yesterday % Change Longs 56% 59% -5.36% Shorts 44% 41% 6.82% Indicator 4H 1D 1W MACD (12;
Positions Today Yesterday % Change Longs 54% 60% -11.11% Shorts 46% 40% 13.04% Indicator 4H 1D 1W MACD (12;
The Australian Dollar traded with high volatility against the US Dollar on Thursday. The pair began to strengthen after its reversed from the lower boundary of an ascending channel.