Throughout this week, the USD/CAD currency pair has been respecting the resistance of the 1.3800 mark and a zone just above it. Meanwhile, support has been provided by the 1.3600 and 1.3650 levels. A move above 1.3800 could encounter resistance in the 1.3850 level and the weekly R2 at 1.3858. On the other hand, a decline below 1.3600 might find
In the aftermath of the Bank of England bond purchase announcement, the GBP/JPY found support in the 153.00 level. The event was followed by a recovery, which by the middle of Thursday's trading had reached above 157.00. A continuation of the surge is set to face major resistance in the 158.00 level, the weekly simple pivot point at 158.39, the 200-hour
On Wednesday, the decline of the Australian Dollar against the USD found support in the weekly S2 simple pivot point at 0.6362. The event was followed by a surge, which stopped at the 0.6510/0.6530 range. By the middle of Thursday's European trading hours, the pair had retraced back below 0.6500. If the AUD/USD declines, support might be found in the
Since the last review, the EUR/JPY rate has dipped and found support in the 138.10/138.15 range. Afterwards, a surge followed, which on Thursday was testing the resistance of the 141.00 mark, the 200-hour simple moving average and the weekly simple pivot point at 140.58. A potential surge of the Euro against the Japanese Yen above the 141.00 level could be
On Wednesday, the Bank of England announced that it would buy government bonds valued at a total of 65 billion Pounds. The market took in the news as follows - the bailing out of the government will create more inflation and will force the BoE to hike rates even more intensively. As a result a surge of the GBP against
On Wednesday, the Bank of England announced that it would buy government bonds valued at a total of 65 billion Pounds. The market took in the news as follows - the bailing out of the government will create more inflation and will force the BoE to hike rates even more intensively. As a result a surge of the GBP against
The Bank of England suddenly announced on Wednesday that it would buy government bonds for a total amount of 65 billion, despite ongoing monetary tightening. Initially, the rate was highly volatile and declined, as additional 65 billion Pounds would be poured into the economy. However, the central bank afterwards stated that it would still stick to rate hikes. Additional stimulus
As the EUR/USD was trading between the support zone near 0.9550 and the 0.9600 mark, the Bank of England caused a broad decline of the US Dollar. Namely, the central bank announced that it would reduce its monetary tightening by buying UK government bonds at a total amount of 65 GBP billion. The markets took in the news as
The decline of the price for gold has reached the 1,615.00 level. The commodity price has been gradually declining from one round price level to another. In general, the situation remains unchanged. A resumption of the decline of the metal's price might continue from one round price level to the next one until the 1,600.00 mark would be reached. In the meantime,
The USD/JPY currency pair remained below the 144.70/145.00 zone up to the middle of Wednesday's European trading. Meanwhile, the support of the 50-hour SMA had caught up with the rate. In general, previous scenarios remained valid. A move above the 145.00 level might result in the rate finding resistance in the 145.50 and 145.75 levels. However, it is currently unclear at
On Wednesday morning, the GBP/USD currency pair found support in the weekly S1 simple pivot point at 1.0637. Meanwhile, it appeared that minor resistance was provided by the 50-hour simple moving average near 1.0740. A decline of the GBP against the US Dollar below the weekly S1 simple pivot point at 1.0637 might look for support in the 1.0600 and 1.0500
The resistance of the 50-hour simple moving average was enough to force the EUR/USD into declining an reaching a new low level. On Wednesday morning, the pair touched the 0.9540 level. An extension of the ongoing decline of the Euro against the US Dollar might look for support in the 0.9500 and 0.9450 levels. Further below, note the weekly S2
The USD/CAD pair has encountered resistance in the 1.3800 level and support was provided by the 1.3650 level. In addition, the 1.3650 level was strengthened by the 50-hour simple moving average. Meanwhile, the rate was ignoring the weekly R1 simple pivot point at 1.3718. A move above 1.3800 could encounter resistance in the 1.3850 level and the weekly R2 simple pivot
In the aftermath of the Monday's GBP crash, the GBP/JPY currency pair has recovered. On Tuesday, the pair was trading almost flat at the 156.00 level. If the Pound recovers against the Yen, the rate might encounter resistance in the combination of the 158.00 level, the weekly simple pivot point at 158.39 and the 100-hour simple moving average. On the other
On Monday, the AUD/USD rate found support in the 0.6440 level and started a recovery. On Tuesday, the recovery encountered resistance in the form of the 50-hour simple moving average. The SMA pushed the rate down. A decline below the 0.6440 level might look for support at 0.6400 and the weekly S2 simple pivot point at 0.6362. Further below, note the
This week, the drop of the EUR/JPY eventually found support in the 137.50 level, before retracing to levels near 139.00. On Tuesday, the pair fluctuated in the 138.75/139.50 range. A move above 139.50 might encounter resistance in the 140.00, 140.50 and 141.00 levels. In addition, the weekly simple pivot point at 140.58 could stop a potential surge of the
The price for gold has booked a new low level, as it approached the 1,620.00 level during the late hours of Monday's trading. The level acted as support and caused a retracement of the price up to the 1,640.00 level. A resumption of the decline of the metal's price might continue from one round price level to the next one
The recovery of the USD/JPY pair has reached the 144.70/145.00 zone, which had acted as resistance for most of September. Once the zone was broken last week, the Bank of Japan intervened in the market. A move above the 145.00 level might result in the rate finding resistance in the 145.50 and 145.75 levels. However, it is currently unclear at which
Since encountering resistance in the form of the 1.0900 level up to mid-Tuesday, the GBP/USD pair had confirmed the weekly S1 simple pivot point at 1.0637 as support and recovered to the combined resistance of the 1.0800 level and the 50-hour simple moving average. A move above 1.0800 is expected to once again find resistance in the 1.0900 level. Higher above,
The EUR/USD currency pair has revealed that it finds support in the 0.9600 level and resistance is provided by the 0.9700 mark. In the meantime, it was spotted on Tuesday morning that the pair was approached from above by the additional resistance of the 50-hour simple moving average. In the case of the 50-hour SMA pushing the rate down, the
With the start of Monday's trading, the price for gold reached a new low level, as it shortly fluctuated below 1,630.00. The decline was attributed to the broader strengthening of the US Dollar, which was caused by the release of the UK fiscal budget and a run to the safety of the USD. A potential recovery of the commodity price is
Last week, for the first time since 1998, the Bank of Japan has intervened in the currency market with direct transactions. However, the manipulation appears to have failed as by mid-Monday the pair was approaching the 144.50 level and could soon once again be above the 145.00 mark. In the meantime, it was spotted that the pair was shortly being impacted
At the start of the week, the GBP/USD plummeted due to the release of the UK's fiscal budget plan. The pair has reached low levels that have not been seen since 1985. Moreover, the pair shortly traded below the 1985 low level. Namely, the GBP/USD has not been this low for more than half a century. However, by the middle of
At the start of this week's trading, the global strengthening of the US Dollar continued, as the EUR/USD reached the 0.9550 level. In the meantime, it was noticed that the pair was respecting the resistance of the 0.9700 mark. A resumption of the decline of the Euro against the US Dollar is highly likely going to look for support in