During the second half of Monday's European trading hours, the USD/JPY currency exchange rate eventually managed to reach above the 136.50 level. Afterwards, the pair paused at the combination of the weekly simple pivot point and the 50-hour simple moving average near 136.80. During Tuesday's early trading, the pair fluctuated in the 136.30/136.80 range, as it appeared to be trading
At mid-day on Monday, the GBP/USD currency exchange rate managed to reach above the resistance zone, which surrounds the 1.2050 level. Since the event, the rate has been finding resistance in the weekly R1 simple pivot point at 1.2087. Meawnhile, the previous resistance zone was acting as support. If the Pound declines against the US Dollar, it might look for support
Since the middle of Monday's trading, the EUR/USD appears to have reduced the range of the pair's sideways trading, as the rate has been fluctuating between the 1.0200 and 1.0250 levels. In the meantime, on Tuesday it was observed that the 50 and 100-hour simple moving averages had begun to provide support to the pair. If the Euro manages to
In the aftermath of almost touching the 1,740.00 level, the price for gold declined. On Monday morning, the pair was trading sideways between the 1,720.00 and 1,730.00 levels. In the case of a decline of the commodity price, support might be found in the 50, 100 and 200-hour simple moving average combination near the 1,710.00/1,715.00 levels. Further below, the 1,700.00
The USD/JPY currency pair has declined below the support of the 136.50 mark. Moreover, the rate has shortly traded below 136.00. On Monday morning, the pair retraced back up and was testing the 136.50 level as resistance. If the US Dollar declines against the Japanese Yen, the currency pair might find support in the 136.00, 135.50 and 135.00 level,
The GBP/USD started the week's trading by fluctuating between the 1.1960 and 1.2000 levels. Meanwhile, the rate was observed to be ignoring the weekly simple pivot point at 1.1975 and the 50 and 100-hour simple moving averages. If the Pound surges against the US Dollar above the 1.2000 mark, the rate might test the resistance of the zone near
Throughout Friday, the EUR/USD fluctuated between the 1.0150 and 1.2050 levels, despite shortly piercing them. On Monday morning, the pair was trading near the 1.0200 level. In the meantime, it was spotted that the rate was not being impacted by the weekly simple pivot point at 1.0190 and the 50 and 100-hour simple moving averages. If the pair declines
The USD/CAD found resistance in the 100-hour simple moving average at mid-day on Thursday. The resistance was enough to push the rate to resume its sideways trading in the 1.2850/1.2900 range. An extension of the ongoing decline would have to pass the 1.2850 level, before reaching the support of the 1.2820/1.2835 zone. The zone captures the late June and early July
The sideways trading of the GBP/JPY pair has ended with a decline below one support after another. Eventually, the 165.00 level, the lower trend line of a channel up pattern and the 200-hour SMA together with the 164.50 level were passed. By the middle of Friday's trading, the pair had already reached the 163.50 level. If the decline of the Pound
The AUD/USD currency pair found enough support in the 0.6860 level to resume its previous surge. By the middle of Friday's trading, the pair had reached and was testing the resistance of the weekly R2 simple pivot point at 0.6948. A move above the weekly R2 simple pivot point might encounter resistance in the 0.7000 mark and the weekly R3 simple
The initial higher than expected ECB rate hike caused a surge of the EUR/JPY. However, afterwards the world read the statement and found out that a new easing program is in the works by the central bank. Namely, the central bank is expected to create more supply of the Euro via purchasing government bonds. The news caused a plummeting
Gold was declining at mid-day on Thursday until suddenly a sharp surge occurred just after 12:00 GMT. The European Central Bank monetary policy statement at 12:15 was blamed for the move. Namely, the ECB revealed that it is hiking interest rates, but has invented a new tool, which basically amounts to a government bond buying bail out tool. Namely, inflation
On Thursday, the US Dollar failed to reach the resistance of the 139.00 mark. At mid-day, the pair started a decline, which by midnight had reached the 137.00 level. The 137.00 level acted as support and caused a surge. During the early hours of Friday's trading, the pair had reached a cluster of resistance levels at 138.00. The cluster was
Since the middle of Wednesday's European trading hours, the GBP/USD has been trading between the 1.1900 and 1.2000 mark. Meanwhile, it appears that the pair is shortly impacted by the 1.1950 level and the 1.1960/1.1970 zone, which previously acted as support. On Friday morning, the pair was testing the support of the 1.1950 level. If the support level holds, the rate
As the European Central Bank hiked interest rates more than expected, the Euro surged and immediately tested the 1.0270/1.0280 zone. However, the bank revealed a new central bank tool, which in essence is another way of doing quantitative easing. Namely, the bank initially revealed that it would tighten the supply of the Euro via a 0.5% interest rate and
The USD/CAD currency pair did not properly reach the support of the 1.2850 level, before starting an upwards move. At mid-day on Thursday, the pair had reached back up to the 1.2930 level. In regards to the near term future, a potential extension of the recovery would face resistance at the 1.2950 mark. Moreover, the 100-hour simple moving average might
Since the middle of Wednesday's trading hours, the GBP/JPY has been trading between the resistance of the 166.00 level and the support of the 165.10 level. Meanwhile, the rate was ignoring the 50 and 100-hour simple moving averages and the weekly R1 simple pivot point at 165.71. If the rate ends the sideways trading with a surge above 166.00, the recent
The AUD/USD currency pairs surge did not reach the resistance levels near 0.6950, as it declined during the second part on Wednesday. During the decline, the pair ignored previous high levels, the 0.6900 mark, the 50-hour simple moving average and the weekly R1 simple pivot point at 0.6868. It appears that the pair is unlikely to react to technical levels
During the second part of Wednesday's trading, the EUR/JPY pair pierced the lower trend line of the channel up pattern. In general, the surge is over due to a simple reason. The European Central Bank is set to announced its future monetary policy at 12:15 GMT on Thursday. The event is set to cause a major adjustment of the
During the second part of Wednesday's trading hours, the price for gold declined below the 1,697.40/1,700.70 zone. During the first half of Thursday's trading, the price was steadily declining, as by 09:00 GMT the 1,685.00 level was reached. In the case of the commodity price continuing to decline, gold could eventually reach the 2021 low level at 1,670.50. However, take into
During the early hours of Thursday's European trading, the USD/JPY currency pair reached above the 138.50 mark, as it continued its recovery that was started on Tuesday. The next target for the recovery might be the 139.00 level. Above the round exchange rate level note the 2022 high level zone at 139.35/139.38. However, a possible decline of the US Dollar against the
The resistance zone, which is located near the 1.2050 mark, has held and caused a decline to the range at 1.1960/1.1970 and the 2019 low level. However, during the early hours of Thursday's European trading hours the rate appeared to be passing below the support zone. A potential extension of the decline of the Pound against the US Dollar might look
The resistance of the 1.2070/1.2080 zone managed to hold and cause a decline, which eventually resulted in the EUR/USD declining below the 1.0200 mark. In general, on Thursday, technical analysis is set to be worthless, as today at 12:15 GMT the European Central Bank is set to hike its base interest rate and make a monetary policy statement. The
The US Dollar has continued to decline against the Canadian Dollar. However, the pair has not plummeted by a lot, as the 1.2850 level is still acting as support. Meanwhile, resistance is provided by the weekly S1 simple pivot point at 1.2898 and the 1.2900 mark. An extension of the ongoing decline would have to pass the 1.2850 level, before reaching