The surge of the USD against the Canadian Dollar continues. The fuel for the surge is provided by the fact that the US Fed revealed that it would hike interest rates and reduce its balance sheet. Meanwhile, the Canadian monetary policy remains unchanged. On Friday, the currency exchange rate was already approaching the 1.2800 mark. In addition, take into account
The GBP/JPY has continued to surge due to the support of the 50-hour simple moving average and the lower trend line of the channel up pattern. The pattern was spotted late on Thursday, as the pair pierced the 50-hour simple moving average's support, but still recovered. On Friday morning, the rate had approached the 155.00 mark and the weekly simple pivot
On Friday morning, the AUD/USD currency exchange rate passed below the 0.7000 mark. The 0.7000 level stopped the pair's declines in December 2021, October and September of 2020. The rate has traded above this level since July 2020. Meanwhile, it was spotted that the post-Fed rate announcement decline has been occurring in a channel down pattern. If the currency exchange rate continues
Since January 21, the EUR/JPY has continues to trade in a channel down pattern. On Friday, the rate was approaching the upper trend line of a dominant pattern. The dominant pattern has been guiding the rate since mid-January. If the currency exchange rate breaks the dominant pattern's resistance line, the EUR/JPY might aim at the upper trend line of the
On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. By the middle of Thursday's trading, the price for gold had reached the 1,810.00 mark
On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. On the USD/JPY charts this resulted in a crashing of the channel up pattern that
On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. On the GBP/USD charts, by mid-Thursday, the event had resulted in the crashing of the
On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. By the middle of Thursday's European trading, the event had resulted in a decline
On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. On the USD/CAD charts, the event resulted in a surge above the 1.2700 mark, which
On Thursday morning, the GBP/JPY currency exchange rate found support in the 50-hour simple moving average and the 154.00 mark. This resulted in a surge, which by 10:00 GMT appeared to be about to test the resistance of the 154.50 level. A passing of the resistance of the 154.50 level might aim at the combined resistance of the 155.00 mark, the
On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. On the AUD/USD charts it was observed as a test of the 0.7180 resistance levels,
The EUR/JPY remains in the junior channel down pattern. However, for a short period of time, the currency pair had traded outside its borders, on Wednesday. On Thursday morning, the currency exchange rate had declined and found support in the 128.50 mark. If the currency pair continues to surge, it would have to pass the resistance of the 50-hour simple
On January 26, the Bank of Canada made a Rate Statement. In general, the bank kept its Overnight Rate at 0.25% and is set to keep its investments in government bonds constant. However, the markets could have reacted to the news that the bank would remove its exceptional forward guidance on its policy interest rate. On the release, the USD/CAD reacted
A fundamental announcement of the Japanese government beat down all Japanese assets and the Yen on Wednesday. Namely, the government announced recently that it would support Ukraine and NATO in a potential war with Russia. The news have caused a gradual fundamental surge of the rate, which broke the post January 12 channel down pattern. In addition, during late Wednesday's
The support of the dominant pattern's lower trend line was enough to cause a breaking of the upper trend line of the junior pattern. The pair broke its resistance on a third attempt. In addition, the pair passed the 50-hour simple moving average's resistance. Meanwhile, the weekly S1 simple pivot point was ignored. However, the 0.7180 mark has been
The EUR/JPY currency exchange rate has continued to trade in the channel down pattern, which was discovered on January 25. At the start of Thursday's US trading session, the rate was located at the upper trend line of the channel. Meanwhile, it was spotted that the 50-hour simple moving average has been acting both as resistance and support. In the
At the start of Tuesday's US trading, the price for gold jumped above the 1,850.00 mark. The event marked the rate reaching November levels. If the commodity price continues to surge, it could find resistance in round price levels like 1,855.00, 1,860.00 and 1,865.00. That is assumed due to the fact that these levels impacted the price during November. However, a
The USD/JPY has bounced off the January low level near 113.50. The following recovery has occurred in a channel up pattern. Most recently, on Tuesday, the rate encountered resistance in the form of the 200-hour simple moving average and the weekly simple pivot point near 114.15. A decline of the pair might look for support in the combination of the 50-hour
The GBP/USD has been declining in a broad channel down pattern since January 13. Meanwhile, the rate has made sharper moves down in a junior pattern since January 20. Future forecasts were based upon whether the junior pattern holds. In addition, note that the market participants were expecting the US Federal Reserve announcements on Wednesday at 19:00 GMT. A move above
The EUR/USD passed the support of previous January low levels near 1.1275. However, the pair has close by the December 21 and 22 low level zone above the 1.1260 mark. Meanwhile, the US Dollar is expected to strengthen, as the markets expect Wednesday's hawkish Federal Reserve announcements at 19:00. In the near term future, the pair could make an
On January 24, the USD/CAD bounced off the resistance of the 1.2700 level. Since then, the rate has been trading sideways above the 1.2630 mark and the weekly R1 simple pivot point at 1.2632. A decline below the 1.2630 level, the rate might aim at the 50-hour simple moving average near the 1.2600 mark. Below the 1.2600 level, the weekly simple
Since January 12, the GBP has been declining against the Japanese Yen in a large scale channel down pattern. The decline started, as the rate bounced off the 2022 high level of January 5 at 157.80. Most recently, on January 24, the rate bounced off the pattern's lower trend line and started a recovery that encountered the 50-hour simple moving
On Tuesday, the AUD/USD currency exchange rate approached the combined resistance of the trend line that connects the rate's recent highs and the 50-hour simple moving average near 0.7150. If the currency exchange rate passes above the 0.7150 mark, it would have no technical resistance as high as the 0.7200 mark, the weekly simple pivot point at 0.7210 and the 200-hour
A review of the EUR/JPY currency pair on January 25th revealed that the rate has been declining in channel down patterns. In regards to the short term, the junior channel should be watched. In the meantime, the rate was approached by the 50-hour simple moving average. In the case that the rate is pushed down by the 50-hour simple moving