The common European currency surged against the Greenback during the first part of Wednesday.
By the middle of Wednesday's trading session the New Zealand Dollar had extended its gains against the US Dollar and booked a new high level. Namely, the 0.74 mark had been reached.
The USD/CAD has shown a miraculous move. After touching the 1.25 mark and revealing an ascending channel pattern during the first half of this week the currency exchange rate was expected to surge.
Although it was expected that the Australian Dollar will begin a surge against the US Dollar after meeting with the lower trend line of a long term channel up pattern, the pair began the surge a lot earlier.
The previous analysis concentrated on the fact that the EUR/JPY pair had reached a new low level of 135.20, where it was stopped for the second time by the 38.20% Fibonacci retracement level. That support managed to hold ground and force the pair into a short term surge.
Bulls dominated the market on Tuesday, thus allowing the yellow metal to appreciate by 0.57%.
The strong downside momentum that prevailed in the market on Tuesday breached any previous assumptions of a limited fall.
The Pound remained relatively stable against the US Dollar yesterday.
EUR/USD was trading in bullish market on Tuesday.
The previously described scenario on Monday regarding the NZD/USD did not come into reality. The strong resistance level was broken and the pair keeps moving north.
As previously forecasted by the Dukascopy research team, the pair met with a strong support cluster near the 1.2450 mark, where the 55 – hour, 100 – hour and 200 – hour SMAs together with the weekly PP are providing support.
During the second half of Monday's trading session, the Aussie broke the support of the 55- and 100-hour SMAs, which were located just near the 0.80 mark.
The previous forecast for the pair's movement was wrong. The analysis was based on Fibonacci retracement levels, which should have forced the currency exchange rate to move south.
XAU/USD spent Monday's trading session within the bounds of the 100– and 200-hour SMAs and the weekly PP in the 1,329.07/1,334.85 area.
USD/JPY was struggling to move past the 100-hour SMA and the weekly PP during the first half of Monday.
The Pound was driven by strong upside momentum against the Greenback on Monday, thus closing the session with a 94-pip gain.
The Euro remained stable against the US Dollar during the previous session.
The New Zealand Dollar has passed the support of the previously active medium channel up pattern against the US Dollar. However, the currency exchange rate was not below Friday's trading session's levels.
The previous expectations from the USD/CAD currency exchange rate have not fulfilled. The Buck has regained ground against the Loonie. Moreover, the upper trend line of the dominant descending channel pattern was broken.
The support cluster on the AUD/USD pair's chart, which was described on Friday did not hold its ground for long.
The previous forecast for the EUR/JPY currency exchange rate was wrong. Our analysts were watching, whether the scenario of a surge would begin after the pair encounters the combined support of the 55 and 100-hour SMAs
The strong upside momentum that drove Gold on Friday morning reversed south near the 1,338.00 mark.
The bearish sentiment prevailed in the market on Friday.
Friday's trading session ended with a 39-pip loss for the GBP/USD exchange rate.