It can be observed on the hourly chart for the yellow metal that the bullion broke out of the descending channel pattern to the upside.
The Euro traded near the previously active long term ascending channel pattern's lower trend line on Wednesday against the US Dollar.
The US Dollar appreciated slightly against the Yen on Wednesday, thus returning near the 110 mark.
No significant changes in GBP/USD was apparent on Wednesday, as the exchange rate remained at a relatively stable level.
An early hours of Wednesday's trading session confirmed that the Kiwi was rapidly depreciating against the buck in a flag pattern.
Tuesday's evening the currency exchange rate spent in an expected horizontal movement along the 55-hour SMA towards the bottom trend-line of an active ascending channel.
As it was expected, the currency pair failed to jump above the 55-hour SMA and spent the rest of the previous trading day near the bottom line of a medium-term descending channel.
Contrary to expectations, the Euro broke out from a symmetrical triangle in the downside direction. In the process, the currency rate managed to bypass the medium-term ascending channel's bottom trend-line, the monthly PP and R1 and the weekly S1 and S2.
Fundamental changes form the US Dollar side have taken place in the financial markets. As a result,
The common European currency depreciated against the US Dollar earlier than expected.
Despite being sticky to the upper boundary of the senior channel down, the USD/JPY exchange rate failed to move past this level (not taking into account the false breakout mid-session).
After breaching the senior channel down on Monday, the Pound managed to retrace from its upper boundary the following day.
A result of the previous trading session showed that the currency pair has entered in a small rectangle pattern.
In line with expectations, the currency exchange rate was gradually slipping towards the bottom trend-line of an ascending channel during second half of the previous trading session.
Fortunately for the Aussie, the currency pair succeeded to bounce off from the lower trend-line of a medium-term descending channel yesterday.
After surging by 30 basis points, the currency exchange rate expectedly fell back towards the 200-hour SMA and the weekly PP at 130.43.
On Monday, the US Dollar was driven by neither bears nor bulls, thus resulting in a movement sideways.
In line with expectations, GBP/USD was relatively still on Tuesday, as no major fundamental events that could shake the market were scheduled for the given session.
On Tuesday morning the yellow metal's price was trading just above the lower trend line of the long term ascending channel pattern.
On Tuesday morning a classic pattern was spotted on the hourly chart for the EUR/USD currency exchange rate.
An announcement of the US macroeconomic data on Friday pushed the currency pair into a flag formation.
Beginning of the new trading week the currency pair met at the monthly PP at 1.2636.
After a huge fall that was caused by a release of the US fundamental data on Friday, the currency exchange rate tried to restore some of the lost positions.
In the second half of Friday the common European currency has entered into an 80-pips downfall against the Japanese Yen.