Yesterday the Euro appreciated against the Japanese Yen slightly more than expected, having breached the ascending channel's resistance line and put the three-year down-trend to the test.
As our team has been forecasting for the whole past week, the yellow metal reached the 1,200 mark.
Wednesday was a rather productive day for the USD/JPY currency pair, being that it rallied more than 100 pips and, thus, preserved the ascending channel pattern.
In spite of extremely good US Durable and Core Durable Goods Orders readings, the Cable still managed to erase all intraday losses and end the day with a 21-pip surge yesterday.
The common European currency depreciated against the US Dollar on Thursday morning, as the currency exchange rate fluctuated above the 1.0520 mark.
The New Zealand Dollar retreated by mid-Wednesday against the US Dollar, as the currency exchange rate fell and traded just above the 200-day SMA.
The US Dollar appreciated against the Canadian Dollar by mid-Wednesday, as the currency exchange rate had bounced above the 1.3450 level by the middle of the day's trading session.
For the second day in a row the Australian Dollar outperformed the US Dollar, having also retaken the 0.74 major level.
Even though the European single currency appreciated against the Japanese Yen for another day yesterday, the immediate resistance area still limited those gains, preserving the ascending channel pattern.
EUR/SGD still trades inside of the nine-year channel down pattern, but gives signals of a reversal in the nearest future. Firstly, the pair has touched the upper trend-line of the channel three times over the last couple of years and has failed to slump back down towards the bottom trend-line for four years already. Secondly, the pair has just exited
On Wednesday morning the yellow metal traded just below the weekly PP, which is located at 1,214.32.
The American Dollar barely managed to post any gains yesterday, but, nonetheless, succeeded in climbing over the 111.00 psychological level.
On Tuesday the GBP/USD currency pair weakened once again, but this time with the support cluster around 1.24 limiting the losses.
The common European currency remained flat on Wednesday morning against the Greenback.
The New Zealand Dollar fluctuated almost unchanged against the US Dollar by mid-Tuesday, as the currency exchange rate bounced around just above the weekly PP 0.7055.
The US Dollar continued to retreat against the Canadian Dollar by mid-day on Tuesday, as the currency exchange rate fell below the 1.34 mark.
Even though the AUD/USD currency pair appreciated on Monday, it barely touched the immediate resistance cluster, having closed at 0.7372.
Once again the European single currency managed to post gains, outperforming the Japanese Yen yesterday, but remaining below the 118.00 level for now.
The yellow metal broke through the resistance put up by the weekly PP at 1,214.32 on Tuesday morning.
The Buck failed to post gains on Monday, but still managed to preserve the ascending channel pattern, as the immediate support area, namely the monthly R3 and the channel's lower border, remained intact.
The British currency was boosted by the UK's new Prime Minister's comments concerning ‘Brexit', causing the Cable to negate almost all previous week's losses.
The common European currency remained flat against the US Dollar just below the monthly S2 at 1.0632.
The New Zealand Dollar surged against the Greenback in the first half of Monday's trading session, as the currency exchange rate jumped to the newly calculated weekly PP at 0.7055.
The US Dollar depreciated against the Canadian Dollar by mid-day on Monday, as the currency exchange rate traded below the 1.35 level.