The previously discovered descending channel pattern has been fully confirmed. Gold price has declined after encountering the patterns resistance line and declined down to the 1,220.00 level. The commodity price has reached the support of the 50.00% Fibonacci retracement level at 1,220.00. It is expected that the metal will eventually pass the support of the Fibo, as it is expected to
The USD/JPY broke the resistance of the weekly R1 at 113.36 during a second attempt. After the breaking of the resistance the rate surged during the next two hours until it reached the upper trend line of a medium term ascending pattern. The rate's surge was forced into a retracement by the trend line.In general, the exchange rate is expected
As the various simple moving averages approached the currency exchange rate, the GBP/USD plummeted down below the support line of a medium scale ascending pattern. The event resulted in a sharp decline on Tuesday morning.During the decline the pair passed the support of the weekly S1 at the 1.2750 mark. Due to that reason the rate is expected to reach
The common European currency failed to pass the resistance cluster at the 1.1380 level against the US Dollar. As forecast, the event has resulted in a decline. However, on Tuesday morning the currency exchange rate had still not reached its target at 1.13.In general, the rate is expected to reach the 1.13 mark, where a previously pierced through lower
On Monday, Dukascopy Analysts spotted a channel down pattern on the hourly chart of the yellow metal. This pattern represents the rate's expected decline until new year. The decline should occur due to the metal starting a medium term consolidation after the recent gains of almost 30 USD. Note that the pattern still needs to fully confirm itself. Namely, the commodity
The US Dollar has paused its surge against the Japanese Yen. The pause from a technical perspective was caused by the resistance of the weekly R1, which is located at the 113.36 level. If the level gets passed, the rate is set to gradually surge up to the next technical level, which is the weekly R2 at 113.74. On the other