On Tuesday, GBP/USD found support in the weekly S1 simple pivot point at 1.2373 and recovered as high as the 1.2450 mark, before the United Kingdom Consumer Price Index data was released. The inflation data caused an increase of volatility with an initial spike to the resistance zone at 1.2470/1.2485 and a follow up decline that almost reached 1.2400. A resumption
The EUR/USD has found support in the support zone at 1.0760. On Wednesday, a recovery was taking place and testing the resistance of the 50 and 100-hour simple moving averages near 1.0795. A move above the simple moving averages and the 1.0800 mark is expected to approach the 1.0820 level. Above 1.0820 resistance is provided by the weekly simple
The price for gold has bounced off a resistance range at 1,982.40/1,984.00. By mid-Tuesday, the commodity price had reached the 1,951.90/1,954.40 range. A move below the 1,951.90/1,954.40 range might result in the metal's decline being almost being stopped by the 1,950.00 mark and the January high at 1,949.00. Further below, the 1,945.00 and 1,935.00 levels could stop a decline, as they
The US Dollar found enough support in the 137.50/137.80 range to resume its surge against the Japanese Yen. During early hours of Tuesday, the pair made an attempt to reach the 139.00 level. A continuation of the USD/JPY surge might be slowed down by the 139.00, 139.50 and 140.00 levels. In addition, note the weekly R1 and R2 simple pivot points
On Tuesday morning, the GBP/USD currency exchange rate passed below the support zone at 1.2390/1.2395. Next target for the decline might be the weekly S1 simple pivot point at 1.2373. Below the weekly S1 simple pivot point, there is no technical support as low as the 1.2300 mark and the weekly S2 simple pivot point at 1.2304. Further below, the
The EUR/USD has bounced off the resistance zone at 1.0825/1.0830 and declined below 1.0800 level. Moreover, the pair has passed the support of the 55-hour simple moving average. An extension of the ongoing decline might result in the pair once again looking for support in the 1.0760 level. Further below, the weekly S1 could act as support at 1.0740,
The price of gold declined to the 1,955.00 level during the prior week. However, on Friday, a recovery started and the price reached back up to 1,980.00 levels. An extension of the recovery of the commodity price might encounter resistance in the 2,000.00/2,010.00 range and the 200-hour simple moving average. Above the resistance zone take into account round levels that have
The sharp surge of the US Dollar against the Japanese Yen ended on Friday at mid-day. On that day the Chairman of the US Federal Reserve Jerome Powell spoke at an event with the ex-Chairman Bernanke. The comments made by the two caused a run to safety. From a technical perspective, the pair broke the channel up pattern and declined
The GBP/USD has revealed a support and a resistance zones. Support is found at 1.2390/1.2395. Resistance is provided by the 1.2470/1.2480 range. On Monday, the pair bounced off the resistance and resumed its decline. The ongoing decline might look for support in the 1.2390/1.2395 level. Further below, note the weekly S1 simple pivot point at 1.2373 and the combination of the
The EUR/USD has reached a new low level by trading near 1.0760 during the end of the last week. However, a recovery of the Euro followed. On Monday the currency pair bounced off a resistance zone at 1.0825/1.0830. The zone was strengthened by the weekly simple pivot point at 1.0822 and the 100-hour simple moving average. Meanwhile, support appeared
The price for gold dropped below the 2,000.00 mark in the aftermath of the US Retail Sales release on Tuesday. The fundamental event strengthened the US Dollar. Moreover, information came into news flows that the US politicians had made progress in US government debt talks. By the middle of Wednesday's trading hours, the commodity had reached below the 1,990.00 level.
The surge of the USD/JPY continues. Mid-Wednesday the currency pair passed above the combined resistance of the weekly R2 and the 137.00 mark. It was expected that the rate could soon reach for the May high level zone at 137.50/137.75. A move above 137.75 could be slowed down by the 138.00 mark or the weekly R2 simple pivot point at 138.35.
The GBP/USD has passed below the 1.2445 level and booked a new May low level at 1.2420. In the case of the Pound continuing to lose value against the US Dollar, the rate could look for support in the 1.2400 mark and the weekly S1 simple pivot point at 1.2365. Below these levels, note the 1.2350 and 1.2300 levels. However, a recovery
The 1.0900 mark held and caused a decline, which on Wednesday morning passed below the support of the 1.0845 level. A continuation of the ongoing decline of the Euro against the US Dollar might look for support in the 1.0800 mark and the weekly S1 simple pivot point at 1.0779. Further below, note the weekly S2 simple pivot point
The price for gold has bounced off the combined resistance of the 2,020.00 level and the 100-hour simple moving average. By mid-Tuesday, the commodity had returned to trade in the 2,000.00/2,010.00 range. In general, previous forecast scenarios remain relevant. A potential decline below 2,000.00 could look for support in round price levels until the price reaches the April low level zone
The USD/JPY currency pair has bounced off the resistance of the weekly R1 simple pivot point. During the follow up decline the pair has passed below the 136.00 level and the 50-hour simple moving average. An extension of the decline might look for support in the 135.35/135.50 range. Further below, note the 135.00 mark and the technical levels which surround
On Tuesday morning, the GBP/USD dipped due to the release of worse than forecast UK employment data. The bad data indicated that the Bank of England would not need to tighten policy, as inflation might come down due to less people buying products. However, by mid-day the rate had recovered and was testing the combined resistance of the 1.2540 level
The EUR/USD has managed to pass the resistance of the 50-hour simple moving average. However, on Tuesday morning, the resistance of the 1.0900 mark was still holding. Above the 1.0900 mark, note the weekly simple pivot point at 1.0916 and the 100-hour simple moving average. In the case of these levels being broken, the rate could aim at the 200-hour
The 2,000.00/2,010.00 range has once again impacted the price for gold. The commodity found support in the range and recovered to the 2,020.00 level, where it remained up to mid-Monday. A potential decline below 2,000.00 could look for support in round price levels until the price reaches the April low level zone at 1,969.15/1,974.00. On the other hand, a surge of
During the early hours of Monday's trading, the USD/JPY currency pair reached above the 136.00 mark and touched the weekly R1 simple pivot point's resistance at 136.34. A move above the weekly R1 simple pivot point at 136.34 might be slowed down by the 136.50 level, before the pair reaches the combination of the weekly R2 at 137.05 and the 137.00
The GBP/USD currency pair has declined below 1.2500, as a broad surge of the US Dollar is occurring. On Monday, the price had recovered after finding support at 1.2445. By the middle of the day's European trading, the rate had returned to the 1.2500 mark. A move above 1.2500 and the 50-hour simple moving average could face resistance in the weekly
The EUR/USD currency pair appears to have pierced the May channel down pattern. However, support has been provided by the 1.0845/1.0850 range. A potential recovery of the Euro against the US Dollar is likely set to face resistance in the 1.0880 level and the 50-hour simple moving average. Higher above, note the 1.0900 mark, the weekly simple pivot point at
Eventually, the price for hold passed below the combined support of the 50 and 100-hour simple moving averages and the lower trend line of the channel up pattern. Moreover, the US PPI release caused volatility and boosted the ongoing decline. By mid-Friday, the commodity price had returned to the 2,000.00/2,010.00 range. A decline below 2,000.00 might look for support in the
Despite dipping during the US fundamental events that occurred during this week, the USD/JPY has recovered and returned to the 135.00 mark. A move above the 135.00 level and the 200-hour simple moving average could encounter resistance in the 135.30/135.50 range. Higher above note the 136.00 level. Meanwhile, a potential decline could look for support in the 134.50 level and the