The GBP/USD has managed not only to reach above the 1.1300 level and the resistance of 1.1350, but also shortly trade above 1.1400. During the surge, the pair pierced the upper trend line of the channel up pattern, before retreating to levels near 1.1350. An extension of the surge of the Pound against the US Dollar would have to break the
The EUR/USD broke the resistance zone at 0.9865/0.9875 on Tuesday morning. In general, the pair was expected to test the 0.9900 level, weekly R1 simple pivot point at 0.9925 and the 0.9950 level, before reaching parity. Note that the 0.9950 level kept the pair from declining from September 13 up to September 21. On the other hand, a decline of
At 14:00 GMT on Monday, the price for gold reacted to US data. Namely, the US ISM Manufacturing PMI was revealed to b at 50.9, compared to forecast 52.5. The event resulted in a broad drop of the US Dollar. On the gold charts the price spiked through the resistance of 1,680.00 and 1,685.00. An extension of the surge of the
On Monday morning, the USD/JPY finally ended trading sideways. The sideways trading ended with the rate breaking the resistance of the 144.70/145.00 zone. The rate shortly tested the weekly R1 simple pivot point at 145.34, before retreating to the combined support of the 50 and 100-hour simple moving averages and the 144.70 level. A move above the 145.00 level might result
On Monday, the GBP/USD pair was approaching the 1.1300 mark, as the recovery of the Pound against the US Dollar continued. However, this round exchange rate level has not impacted the pair during its late September decline. Instead, watch the 1.1350 and 1.1450 levels, which acted as resistance and support during the second part of the month. On the other hand, a
Since Friday, the EUR/USD has been trading in the 0.9750/0.9850 range. In the meantime, the hourly simple moving averages, which had reached the rate, failed to impact it. In general, Friday's forecasts remain unchanged. A surge of the pair would have to break the 0.9850 level, before testing the 0.9865/0.9875 zone, the 0.9900 level and the weekly R1 simple pivot
The 1.3750 level has been keeping the pair down since early Thursday's trading. As described on Thursday, the pair has been respecting round price levels. Throughout this week, the USD/CAD currency pair has been respecting the resistance of the 1.3800 mark and a zone just above it. Meanwhile, support has been provided by the 1.3600 and 1.3650 levels. A move above
On Friday, the GBP/JPY currency pair surged to the 162.00 level. The round level acted as resistance and kept the pair down. A move above the 162.00 level would face no technical resistance as high as the weekly R2 simple pivot point at 167.46. However, note that the round exchange rate levels in the five point range are highly likely going
The AUD/USD pair trades between the resistance at 0.6510/0.6530 and support of the weekly S1 simple pivot point at 0.6449 and the 0.6450 level. Meanwhile, the rate was ignoring the 50 and 100-hour simple moving averages. A move below 0.6550 would most likely result in the pair looking for support in the weekly S2 simple pivot point at 0.6362. Further below,
At midnight to Friday, the EUR/JPY currency pair shortly tested the mid-September low level zone's resistance at 142.35/142.65, before a decline started. By the middle of Friday's trading, the pair had reached the 141.00 level. A move below 141.00 is expected to look for support in the 140.50 level, the 50 and 200-hour simple moving averages and the weekly simple
The support of the 100-hour simple moving average was enough to cause a surge of the price for gold. During the early hours of Friday's trading, the commodity price had almost reached the 1,675.00 level. A move higher above might encounter resistance in the mid-September resistance zones near 1,680.00 and 1,685.00. Higher above, the 1,700.00 mark is highly On the
It has been revealed by the Ministry of Finance that the Bank of Japan spent an equivalent of almost 20 billion US Dollars on its September 22 intervention in the Forex markets, which caused the USD/JPY drop from 145.90 down to 140.60. However, by September 26, all Japanese Yen currency rates were close to pre-intervention levels. In general, the USD/JPY is
The surge of the Pound against the US Dollar appears to have occurred in a wide range channel up pattern. Since late Thursday's European trading hours, the currency pair was testing the resistance of the channel. The resistance line is crossing the 1.1200/1.1250 range. In addition, the resistance line was being strengthened by the weekly R1 simple pivot point and
The Euro has received an additional boost, as inflation in Germany has reached a new record high, being revealed to be above 10.00%. The event boosted the Euro, as the markets took in the news as pressure on the European Central Bank to increase monetary tightening. On the technical charts the event occurred as a test and afterwards
Throughout this week, the USD/CAD currency pair has been respecting the resistance of the 1.3800 mark and a zone just above it. Meanwhile, support has been provided by the 1.3600 and 1.3650 levels. A move above 1.3800 could encounter resistance in the 1.3850 level and the weekly R2 at 1.3858. On the other hand, a decline below 1.3600 might find
In the aftermath of the Bank of England bond purchase announcement, the GBP/JPY found support in the 153.00 level. The event was followed by a recovery, which by the middle of Thursday's trading had reached above 157.00. A continuation of the surge is set to face major resistance in the 158.00 level, the weekly simple pivot point at 158.39, the 200-hour
On Wednesday, the decline of the Australian Dollar against the USD found support in the weekly S2 simple pivot point at 0.6362. The event was followed by a surge, which stopped at the 0.6510/0.6530 range. By the middle of Thursday's European trading hours, the pair had retraced back below 0.6500. If the AUD/USD declines, support might be found in the
Since the last review, the EUR/JPY rate has dipped and found support in the 138.10/138.15 range. Afterwards, a surge followed, which on Thursday was testing the resistance of the 141.00 mark, the 200-hour simple moving average and the weekly simple pivot point at 140.58. A potential surge of the Euro against the Japanese Yen above the 141.00 level could be
On Wednesday, the Bank of England announced that it would buy government bonds valued at a total of 65 billion Pounds. The market took in the news as follows - the bailing out of the government will create more inflation and will force the BoE to hike rates even more intensively. As a result a surge of the GBP against
On Wednesday, the Bank of England announced that it would buy government bonds valued at a total of 65 billion Pounds. The market took in the news as follows - the bailing out of the government will create more inflation and will force the BoE to hike rates even more intensively. As a result a surge of the GBP against
The Bank of England suddenly announced on Wednesday that it would buy government bonds for a total amount of 65 billion, despite ongoing monetary tightening. Initially, the rate was highly volatile and declined, as additional 65 billion Pounds would be poured into the economy. However, the central bank afterwards stated that it would still stick to rate hikes. Additional stimulus
As the EUR/USD was trading between the support zone near 0.9550 and the 0.9600 mark, the Bank of England caused a broad decline of the US Dollar. Namely, the central bank announced that it would reduce its monetary tightening by buying UK government bonds at a total amount of 65 GBP billion. The markets took in the news as
The decline of the price for gold has reached the 1,615.00 level. The commodity price has been gradually declining from one round price level to another. In general, the situation remains unchanged. A resumption of the decline of the metal's price might continue from one round price level to the next one until the 1,600.00 mark would be reached. In the meantime,
The USD/JPY currency pair remained below the 144.70/145.00 zone up to the middle of Wednesday's European trading. Meanwhile, the support of the 50-hour SMA had caught up with the rate. In general, previous scenarios remained valid. A move above the 145.00 level might result in the rate finding resistance in the 145.50 and 145.75 levels. However, it is currently unclear at