The GBP/USD has passed below the combined support of the lower trend line of a channel up pattern, the 1.1550 level and the 50-hour simple moving average. In the near term future, the pair is expected to find support and resistance in round exchange rate levels. A continuation of the decline might find support in the 1.1500 mark and the 100-hour
Despite initially holding, the support of the lower trend line of the channel up pattern and the 1.0000 mark failed. By the middle of Friday's trading, the pair had reached below 0.9950. A decline of the Euro against the US Dollar could look for support in the 0.9900 mark and the 200-hour simple moving average. Further below take into account
In general, the price for gold has been almost flat. On Thursday, the price descended below the 50-hour simple moving average and touched the 1,655.00 level. If the price for gold continues to decline, the 1,655.00 level and the 100-hour simple moving average are the first levels, which could act as support. Further below, the 1,650.00 mark is being strengthened by
The USD/JPY currency pair reached the support of the weekly S1 simple pivot point on Thursday morning at 145.19. Meanwhile, it was spotted that the recent decline of the US Dollar against the Japanese Yen was guided by a trend line, which connects the pair's this week's high levels. A continuation of the ongoing decline is expected to look for support
In general, the GBP/USD encountered resistance in the weekly R2 simple pivot point at 1.1644. A decline followed, and at mid-day on Thursday, the 1.1550 level provided support and a surge started. At the time of writing, 14:30 GMT, the rate was heading to once again test the weekly R2 at 1.1644 and the 1.1650 level. A move above 1.1650 is
The reaction to the ECB interest rate hike was a decline of the Euro against other currencies. On the EUR/USD chart it resulted in a piercing of the combined support of the 1.0000 mark, the 50-hour simple moving average and the weekly R2 simple pivot point at 0.9985. However, by 14:00 GMT, the pair was observed to have recovered
As the US Dollar has been experiencing a decline due to the markets thinking that the Federal Reserve would be less restrictive in their monetary policy, the price for gold has surged. On Wednesday morning, the price touched the 1,675.00 level. An extension of the ongoing surge is set to face resistance at 1,678.75/1,683.85, where the early October high level zone
In the aftermath of another intervention, the USD/JPY pair appears to be steadily declining. Namely, this week the US Dollar is experiencing a broad decline due to the markets expecting the US Federal Reserve to change its policy to be less restrictive. On Wednesday morning the currency pair had reached and pierced the support of the 147.00 mark. An extension
The recovery of the Pound against the US Dollar continues on, as on Wednesday morning the rate reached above the 1.1600 mark. In the near term future, resistance to the surge might be provided by the weekly R2 simple pivot point at 1.1644. However, round levels mostly impact the pair. Note 1.1700, 1.1750 and 1.1800 levels. A potential decline is expected
Since finding support in the 0.9700 level on Friday, the EUR/USD has been recovering. Most recently, the rate encountered resistance in the 1.0050 level and support was provided by the 1.000 mark. An extension of the ongoing surge could face resistance in the combination of the upper trend line of a channel up pattern, the weekly R3 simple pivot
At mid-day on Friday the price for gold suddenly surged and broke the channel down pattern to the upside. By the start of Monday's trading, the 1,670.00 level had been touched. The 1,670.00 acted as resistance and caused a decline. By mid-Monday, the price had almost reached the 50 and 100-hour simple moving averages near 1,640.00. A decline below 1,640.00
The USD/JPY currency pair was testing the resistance of the 152.00 level, as it once again suddenly plummeted. The USD/JPY suddenly dropped on Friday evening and at the open of Monday's trading, as fundamental news had spread over the weekend. In general, the drop was caused by the government of Japan releasing a new long term plan. In the plan
On Monday, the GBP/USD was facing the resistance of the 1.1400 level and the support of the 1.1300 level. A move below 1.1300 might look for support in the weekly simple pivot point at 1.1265, the 50, 100 and 200-hour simple moving averages and the 1.1250 level. Further below, take into account the 1.1200 and 1.1150 levels. Afterwards, the last week's
On Monday morning, the EUR/USD confirmed that the 0.9900 level can act as resistance, as the pair bounced off it. An extended decline of the Euro against the US Dollar might find support in the weekly simple pivot point at 0.9814, the 50 and 100-hour simple moving averages and the 0.9800 mark. Further below, take into account the 200-hour
The price for gold eventually encountered resistance in the combination of the 1,645.00 level, the 100-hour simple moving average and the upper trend line of a channel down pattern. The resistance forced the price into retreating down to the 1,615.00/1,622.00 zone. he support zone appeared to have caused another recovery. A recovery of the metal might be stopped by the 50-hour
The USD/JPY step by step approached the 150.50 level, which was reached and acted as resistance for two hours. Afterwards, the rate surged sharply and easily reached above the 151.00 mark. By the middle of the day's European trading, the rate had reached above 151.30. At the moment of writing, the rate appeared to be unstoppable. An extension of the
As the UK Prime Minister resigned, the Pound initially surged and reached above 1.1300. However, the spike upwards was followed by a decline. By the middle of Friday's trading, the pair had almost reached the 1.1100 mark. An extension of the ongoing decline would have no technical support as low as the weekly S1 simple pivot point at 1.0941 and the
On Friday morning, the EUR/USD bounced off the 0.9800 mark and declined below the support of the 200-hour simple moving average near 0.9765. By the middle of the day, the rate was approaching the support of the weekly simple pivot point at 0.9719 and the 0.9708/0.9715 zone. A decline below the weekly simple pivot point and the 0.9708 level could
The price for gold eventually found support above the 1,615.00/1,622.00 zone. The 1,625.00 level appears to have acted as support. During the first half of Thursday's trading, the price recovered back up to the 1,635.00 level. A continuation of the recovery might encounter resistance in the 1,640.00 level and the zone, which surrounds it. In addition, note the descending 50-hour simple
On Thursday morning, the USD/JPY currency pair shortly reached above the 150.00 mark and the weekly R2 simple pivot point at 149.98. The 150.00 mark is a major benchmark for the pair and most financial news outlets are reporting on the event. A move above the 150.00 mark would have no technical resistance as high as the weekly R3 simple
The decline of the Pound against the US Dollar has continued, as on Thursday morning the pair approached the 1.1150 level and the weekly simple pivot point at 1.1160. A move below 1.1150 would have no technical support as low as the weekly S1 simple pivot point at 1.0941 and the October low levels at 1.0922/1.0932. However, note that the
On Thursday morning, the EUR/USD found support in the 200-hour simple moving average near 0.9755. The support was enough to cause a retracement to the combined resistance of the levels near 0.9800. Namely, the 0.9800 mark, the 100-hour SMA and the 50-hour SMA were located at 0.9795/0.9810. A breaking of the resistance zone at 0.9795/0.9810 could result in a surge
On Wednesday, the price for gold passed below the 1,640.00 level's support. By the middle of the day, the pair had reached the 1,630.00 level. An extension of the decline might look for support in round price levels, prior to reaching the September low levels near 1,615.00. On the other hand, a recovery of the commodity price would face resistance in
Due to an unknown reason on Tuesday, the USD/JPY pair dipped down to 148.15. It could be possible that the Bank of Japan made another attempt to intervene in the forex market. However, an hour later the rate was back above 149.00. On Wednesday, the surge continued, as by mid-day the rate was at 149.75. The pair faces no resistance to