"I don't think it's going to be hard to maintain a growth of 3 percent for the fourth quarter."- Northern Trust Company (based on New York Times)Pair's OutlookThe Swiss currency continued to weaken versus the US Dollar, but the currency cross stopped rising in value after reaching the Bollinger band at 0.9613. This level is placed just below the up-trend,
"It had become increasingly apparent that what the BOJ was doing wasn't enough and they needed to do more and it's always been a question of when they would do that. It's an excellent outcome."- AMP Capital Investors Ltd. (based on Bloomberg)Pair's OutlookThe Japanese currency unexpectedly lost very noticeable value during last 24 hours, as it dropped more than 220
Bearish trend continued to prevail on the market for GBP/USD currency pair on Thursday, as it went further to the downside and neared a significant support line at 1.5962, represented by monthly S1 and strengthened by the Bollinger band.
It seems that the Euro/Dollar cross resumed its long-term downward trend, since it declined further yesterday and surpassed the major level at 1.26.
The Kiwi still fails to surpass the weekly PP at 0.7970; moreover, yesterday after reaching this level the NZD/USD cross plummeted below 0.78 level.
It seems that the last two day drop was somewhat exaggerated; however, the Greenback has reversed some of these losses as of today.
The Aussie did not withstand the pressure when the 0.89 level was reached; therefore, it dropped towards the 20-day SMA at 0.8852.
The pair's bulls have failed to push the pair above the 138 level, as the EUR/JPY cross dipped below the 55 and 100-day SMA around 137.50, after touching the mark.
As expected, the US currency gained enough bullish momentum to start rising, as the pair breached the weekly pivot point and 20-day SMA around 0.95 and decided to advance further.
The currency pair is decisively moving to its long-term goal at 110, as yesterday the US Dollar stabilised around the weekly resistance at 109.
The strong supply area around 1.62 managed to stop bulls from pushing the exchange rate higher and the British currency lost considerable ground against the Buck, fuelled by news from the Fed.
The single currency dropped against the US Dollar for the first time in four days yesterday, as the Fed announced the end of its stimulus program.
Today we might see the pair advancing for fourth consecutive day if it does not loose its bullish steam in the upcoming hours.
The pair's retreat was extended towards the weekly S2 at 1.1128, the greenback has lost more than 100 pips against the Canadian peer through last two days.
The Aussie continued to outperform the US counterpart today, even more the pair reached the highest level this month at 0.89.
Since the last time of writing the pair has surpassed both the 55 and 100-day SMAs and the 50% Fibo level, meaning that the pair might be poised for a further gains.
Since USD/CHF has finally reached a major support, the US Dollar is supposed to stabilise near 0.9450 and start gaining an upward momentum.
Despite the elevated risk of 108 failing to keep USD/JPY afloat, in the end the support managed to fend off the bears.
Although the four-month down-trend at 1.61 is no longer a ceiling, the dense resistance at 1.62 should be more than enough to prevent more weakness in the US Dollar.
The European currency strengthened against the Buck yesterday, thus breaking the resistance at 1.27.
Already starting from the previous Friday the pair is on a healthy recovery from the Wednesday‘s drop that sent the pair below the 0.79 mark.
The USD/CAD has slumped below the weekly S1 at 1.1184, after the pair received a informational shock that dragged it lower.
The Aussie reached the second highest level this month at 0.8882 today, after opening above the 0.88 mark.
Today the pair has retained its position above the 38.2% Fibo and it even approached the 55 and 100-day SMAs at 137.50/57.