After the massive surge of the US Dollar against the Japanese Yen, the pair seemed to have revealed the pattern, which represents the rate's recent surge.
Bullish sentiment is expected to prevail in this session.
Slight downside potential could be apparent during the first part of the day; however, the Euro should eventually recover.
As the US Dollar gains in the aftermath of political achievements in the Korean peninsula, the prices of commodities are falling.
The Buck has just kept gaining ground against the Japanese Yen.
It is expected that the senior channel holds the Pound and thus allows for a recovery today.
No strong resistance/support clusters are located nearby, so the Euro might move both directions.
On Friday morning the yellow metal's price passed a previously active medium channel up pattern's support.
As the US Dollar has continued to surge again the Japanese Yen it finally encountered resistance strong enough to stop it.
It is likely that bulls try to regain some positions today after the massive two-day plunge.
The Euro breaching the 200-hour SMA could point to some bearish sentiment in this session.
The yellow metal remains in the previously established triangle pattern.
The previous comment made that the breaking of the hourly SMAs could cause a bullish swing upwards has become reality.
The Pound consolidates after yesterday's plunge.
The pair remains trading along the 55-hour SMA towards the senior channel.
Gold has formed a minor ascending triangle against the US Dollar.
A bullish breakout of the 55-, 100- and 200-hour SMAs could point to further upside potential in this session.
Yesterday's bearish sentiment expected to prevail in this session, as well.
The breaching of the 55-hour SMA is likely to be followed by bearish momentum.
On Tuesday morning after a couple of more attempts to surge above the 1,350 mark, the metal's price had remained near the 1,340 mark.
On Tuesday it could be seen that the US Dollar had scored new low levels against the Japanese Yen.
Bearish pressure should prevail during the second part of the day.
The pair continued to push higher on Tuesday morning; however, this upward momentum should allay during the following hours.
The bullion almost touched the 1,350 mark in the last 24 hours.