On Friday morning, the EUR/USD currency pair was trading at the 1.1390 level. Note, that the pair is supported by the 55- and 100-hour SMAs, located circa 1.1370, thus, some upside potential could prevail in the market. Latest Fundamental Event Report The European Common Currency traded sideways against the US Dollar, following the US Final GDP data release on Thursday at 12:30 GMT.
The yellow metal stopped its decline near the 1,405.00 level. The event occurred due to a relieve of the overbought pressure, as indicated by the 55 and 100-hour SMAs being above the commodity price. In general, the metal is expected to trade sideways until new fundamental news reveal its future direction. Latest Fundamental Event Report Federal Reserve released the FOMC Statement, where the
The USD/JPY continued its surge on Thursday, as the 200-hour simple moving average failed to stop the surge of the rate. The pair was set to reach the resistance levels that surround the 108.40 level. Namely, a 38.20% Fibonacci retracement level and a weekly R1 were located nearby. Latest Fundamental Event Report The US Census Bureau released the US Core Durable Goods Orders
On Thursday morning, the GBP/USD traded below the 1.2700 level. The rate had continued to fluctuate between the support of the weekly pivot point at 1.2669 and the psychological resistance of 1.2700. In general, the rate was expected to get squeezed in between the support of the mentioned pivot point and the 200-hour simple moving average and the resistance of
On Thursday morning, the EUR/USD still traded near the 1.1360 level. However, the pair had passed the support of the 100-hour simple moving average. In general, the rate had no technical support as low as 1.1329. Although, note that this might be a false break out, as the rate had made two false break outs from the yesterday described squeeze. Latest Fundamental
Gold has continued to decline on Wednesday. Although, the decline was paused by the 100-hour simple moving average. In regards to the near term future, the commodity price was expected to get squeezed in between the 55 and 100-hour simple moving averages. Latest Fundamental Event Report Federal Reserve released the FOMC Statement, where the US policymakers provided in-depth insights into the economic and
The USD/JPY was recovering on Wednesday. By the middle of the day, the rate had broken resistance of a descending channel pattern and jumped up to the 107.70 level. If the resistance at 107.70 gets broken, the rate would surge up tot eh 200-hour SMA at 107.86. Latest Fundamental Event Report The Federal Reserve released the FOMC Statement, where the US policymakers provided
After a short lived piercing of the 1.2760 level the GBP/USD began a decline, which on Wednesday had reached the 1.2669 level. At that level it met with the support of a weekly pivot point. The future forecasts were based on what will happen at the pivot point. Latest Fundamental Event Report The British Pound depreciated against the US Dollar, following
On Wednesday morning, the EUR/USD ended the surge, which was occurring for a week. Namely, it broke the support of the ascending pattern and the 55-hour simple moving average. The rate had fulfilled the second of the previously speculated scenarios by declining down to the 100-hour simple moving average, which on Wednesday was located near the 1.1350 level. In general, the rate
Gold has hit a new high level. Namely, the 1,440.00 level was touched on Tuesday morning. Another important update to note is that the 55-hour simple moving average continued to remain close by below the yellow metal's price. It serves as a good overbought indicators, as the metal retraces back down as soon as the SMA is too far away. Latest Fundamental
The 55-hour simple moving average has forced the USD/JPY to drop below the 107.00 level. However, the drop was stopped by the lower trend line of a dominant channel down pattern. In general, a consolidation was expected either up or sideways. Which one will occur depends on whether the resistance of the 107.00 level would get passed. Latest Fundamental Event Report The Federal
On Tuesday morning, the GBP/USD was testing the resistance of the 1.2760 level. In general, the rate was expected to pass this level sooner or later. Latest Fundamental Event Report The British Pound depreciated against the US Dollar, following the UK Monetary Policy Summary and Official Bank Rate data releases on Thursday at 11:00 GMT. The GBP/CAD exchange currency rate lost 29
The EUR/USD has reached the previously set target at 1.1410. At that level the rate met with the resistance of a monthly pivot point. In general, the rate was expected to trade sideways until it finds technical support in the lower trend line of an ascending channel pattern and the 55-hour simple moving average. Latest Fundamental Event Report The European Common Currency appreciated
On Monday, the yellow metal's price was testing the resistance of the 1,410.00 level. Namely, by the middle of the day the resistance level had managed to stop another surge. In general, it was expected that the 1,410.00 level would be passed as soon as hourly simple moving averages provide support and indicate that the metal has consolidated after the recent
The USD/JPY recovery has been stopped by the resistance of the 55-hour simple moving average. The SMA managed to push the rate down to previous low levels. However, On Monday morning, the resistance of the SMA was being tested. Latest Fundamental Event Report The Federal Reserve released the FOMC Statement, where the US policymakers provided in-depth insights into the economic and financial conditions
On Monday morning, the GBP/USD was testing the resistance of a historical high level at 1.2760. In general, the favoured forecast was that the 55-hour simple moving average will push the rate through this level to face the resistance of a monthly pivot point at 1.2792. Latest Fundamental Event Report The British Pound depreciated against the US Dollar, following the UK Monetary
On Monday morning, the EUR/USD was located just above the 1.1380 level and had no resistance up to the 1.1400 level. However, it also had no technical support that could push it up. Meanwhile, note that the central bank caused EUR/USD has been occurring in an ascending channel pattern, which clearly shows the volatility borders of the surge. Latest Fundamental Event Report The
Gold has pierced the 1,410.00 level. The surge of the metal continues, as it has reached a high level not seen in years. There are two fundamental reasons for the event. The US Dollar is losing value due to the expectations of the Fed stimulating the economy by doing a rate cut. On the other hand, gold is surging a lot
The USD/JPY continues to decline, as the rate touched the levels just above the 107.00 level on Friday morning. However, a surge began, as soon as the Japanese government announced that it will intervene. In general, the Japanese are about to manipulate their currency to protect their exports and financial sector. The decline was caused by the US Federal Reserve announcing that
On Friday morning, the GBP/USD made another attempt to pass the resistance line of a large scale descending pattern, and it failed at it. This event was followed by a decline, which by the middle of the day was aiming at a technical support cluster at 1.2645. Latest Fundamental Event Report The British Pound depreciated against the US Dollar, following the UK
On Friday morning, the EUR/USD continued the consolidation, which it started at the end of the Fed's caused surge. In general, the rate is expected to resume its surge after it ends the sideways trading. Latest Fundamental Event Report The European Common Currency appreciated against the US Dollar, following the US FOMC Statement and Federal Funds Rate data release on Wednesday at 18:00
The Federal Reserve caused a sharp drop of the USD on all charts. Due to that reason the yellow metal surged to the 1,395.00 level by midnight. On Thursday, the commodity price had retreated and was consolidating its previous gains just above the 1,380.00 level. Economic Calendar Analysis There will be no more scheduled events that could cause a sharp move of the
Two large fundamental events have taken place that have beat the USD/JPY down to 107.50. The US Federal Reserve signalled that it will do a rate hike, which caused a drop of the USD. The Bank of Japan announced that it is not changing its monetary policy crashing speculations that it will also ease policy and beat down the value of
A decline in the value of the USD that was caused by the Federal Reserve has pushed the GBP/USD up to the resistance of a large scale descending pattern. The resistance of the channel down pattern was located at the 1.2720 level. The future forecasts are based on what happens at this level. Latest Fundamental Event Report The British Pound appreciated against