Yesterday, the USD/JPY currency pair reversed from the upper boundary of the short-term ascending channel at 108.75. During today's morning, the pair declined to the support level formed by the weekly PP at 108.22. Latest Fundamental Event Bureau of Labor Statistics released the US Average Hourly Earnings data, which came out worse-than-expected of 0.2% compared with forecast 0.3%. According the official release: "Total
During Wednesday's morning, the GBP/USD currency pair reached the upper boundary of the short-term descending channel at 1.2740. From the theoretical perspective, it is likely, that a reversal south occurs soon. Otherwise, the pair could maintain its growth. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Average Earnings Index data release on Tuesday at 08:30
Since yesterday, the EUR/USD currency pair has been testing the resistance level formed by the monthly R2 at 1.1338. If the given resistance does not hold, it is likely, that the pair could reach the psychological level at 1.1360. Latest Fundamental Event The European Common Currency appreciated against the US Dollar, following the US Employment data set release on Friday at
Gold is supported by the 200-hour moving average, currently located at the 1,319.37 mark. Thus, it is unlikely, that some downside could prevail in the market in the short term. However, note, that the XAU/USD rate is also pressured by the 55- and 100-hour SMAs at 1,332.00. Economic Calendar Analysis On Wednesday, June 12, the US CPI data release will happen at
During Tuesday's morning, the USD/JPY exchange rate reached the upper boundary of the short-term ascending channel at 108.75. If the given channel holds, it is likely, that a reversal south occurs in the nearest future. Latest Fundamental Event Bureau of Labor Statistics released the US Average Hourly Earnings data, which came out worse-than-expected of 0.2% compared with forecast 0.3%. According the official release:
The GBP/USD currency pair has been trading sideways between the 55-, 100- and 200-hour moving averages since yesterday. If the given moving averages hold, it is expected, that the pair could continue to trade sideways. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Average Earnings Index data release on Tuesday at 08:30 GMT. The GBP/USD
During the previous trading session the EUR/USD currency pair traded sideways along the 55-hour SMA. On Tuesday morning, the exchange rate continued to trade sideways along the given support. Also, note, that the pair is supported by the 100-hour SMA, currently located at 1.1285. Thus, it is unlikely, that some downside potential could prevail in the market in the nearest
Gold has been consolidating by trading sideways since the last review. It has been trading between 1,330.00 and 1,340.00. In general, the metal could resume its surge as soon as the 100-hour simple moving average approaches the commodity price from below. Economic Calendar Analysis The week will end with the Canadian and US employment data being published at 12:30 GMT. This event consists
The USD/JPY is surging in a recently revealed ascending channel pattern. The pair's next target is the 200-hour simple moving average at 108.72. The short term forecasts of the pair are based on this level. Latest Fundamental Event Institute for Supply Management released the US ISM Non-Manufacturing PMI data, which came out better-than-expected of 56.9 compared with forecast of 55.6. According to the official
GBP/USD has been making attempts to pass the resistance of an upper trend line of a channel down pattern and a pivot point near 1.2740. By the middle of Friday's trading session a third attempt was in progress. Watch the trend line and the pivot point for signals of the future of the pair's direction. Latest Fundamental Event Institute for Supply Management
During the previous trading session the EUR/USD fluctuated between the 1.12 and 1.13 levels. The volatility was high due to the European Central Bank making a rate statement and hosting a press conference. On Friday morning, the currency exchange rate was looking for support near the 1.1250 level. There it was bound to rebound and make another attempt to pass
After almost touching the 1,345.00 level gold retraced back down to the 55-hour SMA. The SMA, as expected, provided the needed support for the yellow metal to resume the surge. Economic Calendar Analysis On Thursday, all attention will be on the European Central Bank. At 11:45 GMT the Monetary Policy Statement will be published. On the release the EUR/USD has moved from
The USD/JPY reached the 108.40 level, as it was expected. Although, that level was reached with high volatility. Namely, the pair retraced back down to the 107.80 level just before reaching the target first time. Afterwards, the rate reached 108.40 in the next six hours. Latest Fundamental Event Institute for Supply Management released the US ISM Non-Manufacturing PMI data, which came out better-than-expected
By the middle of Thursday's London trading session the GBP/USD was trading between simple moving averages below the 1.2700 level. In general, our hourly candle chart analyst states that the rate most likely could trade sideways in the near term future. Latest Fundamental Event Institute for Supply Management released the US ISM Non-Manufacturing PMI data, which came out better-than-expected of 56.9 compared
After touching the 1.1300 level on Wednesday, the EUR/USD declined after encountering this level. The decline stopped at the combined support of the 100-hour SMA and a pivot point at 1.1218. In general, the rate was expected to get squeezed in between 1.1220 and 1.1250. Latest Fundamental Event The European Common Currency depreciated against the US Dollar, following the US ISM Non-Manufacturing PMI
The surge of Gold continues. The 1,340.00 level was reached by the middle of Wednesday's London session. Moreover, the metal has not technical resistance as high as the 1,360 level. In addition, the 55-hour SMA is rather close by, indicating that the metal is not overbought. Economic Calendar Analysis On Thursday, all attention will be on the European Central Bank. At 11:45 GMT
After three attempts to push the USD/JPY down the 55-hour simple moving average failed. By the middle of Wednesday's trading, the USD/JPY had begun a surge to the 108.40 level. The rate was expected to meet with the resistance of a Fibonacci retracement level and 100-hour SMA near 108.40. Latest Fundamental Event Bureau of Economic Analysis released the US Prelim GDP data, which
The GBP/USD on Wednesday was continuing the previously started surge. The rate was still aiming at the resistance pf the pivot point at 1.2735. At that level the rate is expected to wait for the support of the approaching simple moving averages. Latest Fundamental Event Last Thursday, the Bureau of Economic Analysis released the US Prelim GDP data, which came out in
On Wednesday, the EUR/USD pair was testing the resistance of the 1.1280 level, which stopped the rates surge previously. At that level the 100-day simple moving average was located at. Due to that reason the daily candle chart is the one to be watched during the day. Latest Fundamental Event The European Common Currency depreciated against the US Dollar, following the US
Gold booked a new high level on Tuesday. Although, it seems like the surge is over, as a consolidating short term decline could be observed by the middle of the day's London trading session. In general, the metal was expected to resume its surge, as soon as the support of a pivot point at 1,320.00 gets strengthened by the 55-hour simple
After reaching a new low level on Tuesday morning London trading hours, the USD/JPY began to recover. In general, the rate was expected to trade near the 108.00 level until it gets approached by technical resistance levels that push it down. Latest Fundamental Event Bureau of Economic Analysis released the US Prelim GDP data, which came out in line with expectations of 3.1%. According
The GBP/USD has broken the resistance of the 200-hour simple moving average. Due to that reason it has no technical resistance as high as the 1.2735 level. At that level the rate would meet the first resistance of the simple weekly pivot points. Latest Fundamental Event Last Thursday, the Bureau of Economic Analysis released the US Prelim GDP data, which came
On Monday, the EUR/USD broke the resistance of a junior pattern and jumped up to the 1.1260 level before it paused the surge. On Tuesday, a consolidation was taking place, which could be followed by a continuation of the surge of the pair. Latest Fundamental Event The European Common Currency depreciated against the US Dollar, following the US ISM Manufacturing PMI data
Gold has continued to surge, as it has reached the levels just below the 1,320.00 mark. In general, if the commodity price surges above the monthly pivot point at 1,319.79, it will have no technical resistance as high as 1,333.00 Economic Calendar Analysis This week will have various data releases and monetary policy announcements occurring. On Monday, the ISM Manufacturing PMI will be