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