Gold gained some pips to the UD Dollar, following a volatile session the day before, when it posted what appears to be a high wave candle, which expresses confusion in the market.
The USD/JPY currency pair barely edged higher yesterday, therefore, preserved the bearish trend-line.
The GBP/USD currency pair confirmed yesterday's scenario, having climbed back above the 1.23 major level and even completely ignoring the immediate resistance at 1.2324.
EUR/USD opened green on Friday after the pair was denied access to levels below the 55-day SMA of 1.0608 two days before
Strengthened by Yellen's comments the US Dollar outperformed the New Zealand Dollar, causing the pair to almost completely erase all Tuesday's gains.
The Buck managed to recover from Tuesday's losses, adding more than 200 pips against the Canadian counterpart.
As was anticipated, the Australian Dollar underwent a correction on Wednesday, sliding back down towards the 0.75 level, where the 100-day SMA coincides with the 200-day one.
The EUR/JPY currency pair experienced a relatively strong rally on Wednesday, having touched the first level of the main resistance target.
The daily chart shows Gold being on a retracement of the broken upper boundary of the senior channel down pattern.
Fed Yellen's comments on Wednesday provided the US Dollar with a strong boost, which allowed the USD/JPY to erase both Monday's and Tuesday's losses.
EUR/USD erased some of Wednesday's losses in a small green candle Thursday morning, hovering between a broken short-term channel and the 55-day SMA of 1.0615.
The Cable's decline exceeded expectations on Wednesday, as it easily pierced the immediate demand area and found support only at the second target, namely the 20-day SMA.
On Wednesday the Kiwi began to lose its previous gains against the US Dollar, which were scored in the 1.5% surge, which occurred on Tuesday.
During the first half of Wednesday's trading the US Dollar appreciated against the Canadian Dollar, as the currency exchange rate reached the 200-day SMA at 1.3107.
A surge in commodity prices allowed the Australian Dollar to outperform its US counterpart on Tuesday, with the pair once again putting the ascending channel's resistance line to the test.
Yesterday the European single currency inched down for the second consecutive day, with the 55-day SMA managing to limit the losses.
After reaching the high level of 1,219, where a combined resistance by the monthly R2 and 38.20% Fibonacci retracement level is enforced, the yellow metal retreated on Wednesday morning.
On Tuesday the GBP/USD pair experienced the strongest rally in almost 20 years, amid UK May's comments and upbeat UK inflation data.
The Euro declined on Wednesday morning against the US Dollar, and it could be clearly seen that the currency exchange rate is set to continue the decline.
With risk-aversion driving the markets yesterday, the USD/JPY currency pair ignored the immediate demand cluster and dropped below the 113.00 mark.
By mid-day on Tuesday the Kiwi had gained almost 100 pips against the US Dollar, as the currency exchange rate broke through all resistance levels, which could have stopped it.
During the first half of Tuesday's trading session the US Dollar had lost 160 pips against the Canadian Dollar.
The Aussie barely changed over the day, having inched just four pips lower.
A bearish development on Monday caused the EUR/JPY currency pair to break out from its five-week consolidation trend.