The decline of the USD/CAD has found support in the February low level zone. On Tuesday, a recovery of the rate reached the resistance of the 1.2700 mark. A passing of the resistance of the 1.2700 mark could encounter resistance in the 50 and 200-hour simple moving averages near 1.2710/1.2720. Above the SMAs, the weekly simple pivot point at 1.2736
The GBP/JPY ended its retracement down at the 115.15 level. Since mid-Monday, the currency exchange rate has been recovering and passing resistance levels. Namely, the pair has passed above the weekly simple pivot point and the 50-hour SMA. A continuation of the recovery of the Pound against the Japanese Yen could test the last week's high level zone at 156.50. If
The recovery of the Australian Dollar against the USD has reached the 0.7140 mark. On Tuesday, the rate retraced down and fluctuated near the 0.7120 level. If the currency exchange rate resumes its surge, it would have to pass the resistance of the 0.7140 mark, before aiming at the resistance zone at 0.7160/0.7170 and the weekly R1 simple pivot point at
The EUR/JPY currency exchange rate remains below the 132.00 mark. On Tuesday morning, the pair made an attempt to pass the round exchange rate level, before retracing back down. Meanwhile, it was spotted that the 50-hour simple moving average is not capable of changing the rate's direction. In addition, note that the 131.25 level acted as support on Monday. In
Despite experiencing a sharp dip due to the US Employment data sets on Friday at 13:30 GMT, the price for gold returned to testing the resistance of the 1,815.00 mark. On Monday, the price passed above the 1,815.00 mark. If the commodity price continues to surge, it should reach for the resistance of the 1,825.00 level. Higher above the summer high
On Monday morning, the USD/JPY currency exchange rate bounced off the resistance zone, which surrounds the 115.40 mark. Afterwards, the rate declined to the support of the 200-hour simple moving average near 114.90. If the USD recovers against the Japanese Yen, the pair might once again test the resistance of the 115.40 mark, before aiming at the weekly R1 simple pivot
In the aftermath of the Bank of England rate hike, the GBP/USD has declined. On Monday, the currency pair reached below the 1.3500 mark and touched the 200-hour simple moving average near 1.3490. Meanwhile, resistance was being provided by the 100-hour simple moving average near 1.3550. If the GBP/USD passes below the 1.3500 mark and the 200-hour simple moving average, the
In the aftermath of the ECB caused surge, the EUR/USD currency exchange rate has begun to consolidate by trading sideways. The rate has been trading sideways between the support of the 1.1412/1.1416 zone and resistance at 1.1472/1.1485. In the case that the rate ends its sideways trading by surging, the EUR/USD could immediately encounter resistance in the form of the
On Friday, the USD/CAD currency exchange rate failed to reach the resistance zone that is located near the 1.2800 mark. On Monday morning, the currency pair bounced off the 1.2710 mark and recovered to the 1.2740 level. If the pair continues to recover, it could approach the 1.2800 mark and the resistance zone below it. However, the rate might encounter resistance
At the end of last week, the GBP/JPY jumped due to the Bank of England hiking interest rates. However, the surge was stopped by the 156.50 mark. The event was followed by a decline, which on Monday morning passed below the support levels near 155.60 and reached the 155.50 level. If the pair continues to decline, it would have to pass
On Monday morning, the AUD/USD currency exchange rate surged, and by the start of the day's European trading the pair was located between the 50 and 200-hour simple moving averages at 0.7090 and 0.7110. In the case of a surge, the pair might test the resistance of the February high levels at 0.7160/0.7170 and the weekly R1 simple pivot point at
On Thursday, the EUR/JPY started a sharp surge, which was caused by the European Central Bank. Namely, comments made by the President of the European Central Bank Christine Lagarde were the catalyst of the rate reaching the 132.00 mark. This week, the rate had retraced down to the 50-hour simple moving average near 131.50. In addition, it was spotted that
Despite piercing the resistance of the 1,810.00 mark, the price for gold declined. By the middle of Thursday's trading, the price for the yellow metal was located in the range between 1,800.00 and 1,805.00 levels. In the meantime, it was observed that the price was ignoring the 50 and 100-hour simple moving averages. In the case of a decline, the commodity
The 114.20 mark provided enough support to the USD/JPY currency exchange rate for the pair to recover. By the start of Thursday's US trading hours at 14:30, the pair had made an attempt to reach the 115.00 mark. If the currency exchange rate passes the resistance of the 100-hour SMA at 114.90 and the 115.00 mark, it would have no technical
On February 3, the Bank of England published its Monetary Policy Summary. The bank hiked its interest rate by 0.25% to 0.50%. In addition, the central bank Monetary Policy Committee voted unanimously to start to reduce its stock of bonds. Namely, the bank is starting quantitative tightening. On the release, the GBP/USD suddenly dropped by 23 base points or 0.17%, before
On Thursday, at 12:45 GMT, the European Central Bank published its Main Refinancing Rate and Monetary Policy Statement. In general, the bank kept its rate at 0.00%, but revealed that it would end its quantitative easing policy. Afterwards, comments made by the head of the central bank Christine Lagarde caused a surge of the currency pair. The surge of
On Thursday, it was spotted that throughout February the USD/CAD currency exchange rate has been finding support in the 1.2651/1.2656 zone. This zone has reversed three recent declines of the USD against the Canadian Dollar. During the early hours of Thursday's trading hours, the currency pair was located below the resistance of the weekly simple pivot point at 1.2709 and
On Thursday morning, the GBP/JPY currency exchange rate approached the 155.50 mark and began to test its resistance. Previously, on Wednesday, the 155.50 level stopped the rate's surge. In the case that the 155.50 level is properly passed, the pair could aim at the 156.00 level. Meanwhile, take into account that there are no technical levels providing resistance as high
The recovery of the Australian Dollar against the US Dollar appears to have ended at the 0.7160 mark. Namely, the pair bounced off this level at mid-day on Wednesday. By the start of Thursday's European trading hours, the currency exchange rate had reached the 0.7120 mark and the 50-hour simple moving average. In the case that the 50-hour simple moving average
On Thursday morning, the EUR/JPY currency exchange rate surged and reached a new February high level, as the 129.60 mark was touched. A continuation of the surge of the Euro against Japan could find resistance in the weekly R2 simple pivot point at 129.67. Above the pivot point, resistance could be provided by the 130.00 mark or the weekly
The price for gold continues to test the resistance zone below the 1,810.00 mark. Meanwhile, it was observed that the 1,795.00 mark was providing support. At mid-Wednesday, the price was located in the resistance zone. Due to that reason, previous forecast scenarios remain unchanged. A move above the resistance zone and the 1,810.00 level could result in a test of the
The decline of the US Dollar against the Japanese Yen has continued, as by the start of Wednesday's US trading hours, the rate had reached the 114.20 level. In the meantime, the rate had no technical support as low as the 114.00 mark and the weekly S1 simple pivot point at 113.93. If the rate continues to decline, it would
The surge of the GBP/USD currency exchange rate has reached above the 1.3550 mark. In general, it was initially seen that the pair has no technical resistance as high as the weekly R2 simple pivot point at 1.3650. Meanwhile, it was expected that the 1.3600 mark could act as resistance. However, additional analysis revealed that the recent surge of the
On Wednesday, the recovery of the Euro against the US Dollar continued to surge, as the pair breached the weekly R1 simple pivot point at 1.1293 and the 1.1300 mark. By the middle of the day's trading, the pair had reached above 1.1320. If the pair continues to surge, the EUR/USD could eventually reach the 1.1365 mark, which acted as