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
On Tuesday, the support of the 50-hour simple moving average was enough to cause a surge of the GBP/JPY above the previous high level, as the rate touched the 166.25 level. During early Wednesday's trading, the currency pair had remained near 166.00. Meanwhile, the 50-hour simple moving average was approaching the rate from below. In the case of the moving
Since Tuesday, the AUD/USD currency pair has managed to reach above the 0.6900 level and shortly traded above 0.6920. In general, the pair has moved only slightly, which has resulted in the previous forecasts remaining intact. If the recovery of the Australian Dollar continues, the currency pair could encounter resistance in the weekly R2 simple pivot point at 0.6948 and the
During the first part of Wednesday's European trading hours, the EUR/JPY broke the resistance of the weekly R2 simple pivot point at 141.73 and almost reached the 142.00 mark. However, prior to properly touching the round exchange rate level, the pair bounced off the 141.94 level and declined below 141.50. If the Euro resumes its recovery against the Japanese Yen,
Throughout this week, the price for gold has continued to trade near the 1,710.00 level throughout this week. The future scenario forecasts remain unchanged. In the case of a continuous recovery of the commodity price, the metal might encounter resistance in the combination of the 1,730.00 mark, the 1,732.10 level and the 200-hour simple moving average. Higher above, take into account
The USD/JPY eventually passed below the support zone at 137.70/137.90. However, support was almost immediately found in the combination of the 137.50 level and the 200-hour simple moving average. The event resulted in a recovery above 138.00. During the early hours of Wednesday's trading hours, the pair was fluctuating between the weekly simple pivot point at 137.90 and the resistance
Since the middle of Tuesday's trading hours, the currency pair has been testing a resistance zone at 1.2035/1.2055. In the meantime, minor support appeared to be found in the 1.2000 mark. If the Pound manages to break the resistance zone of 1.2035/1.2055 against the US Dollar, the pair might encounter resistance in the 1.2100 and 1.2150 levels, prior to reaching the
The EUR/USD managed to reach above the 1.0190/1.0220 zone and the 1.2050 mark. Resistance was eventually found in the 1.2070/1.2080 zone. Afterwards, a decline to the 1.2020 level occurred and the previous resistance became support. During early Wednesday's trading, the pair was fluctuating between the 1.0220 and 1.0250 levels. If the rate resumes its surge, it would face the resistance
During the early hours of July 19 trading, the USD/CAD currency pair declined below the 1.2950 mark. In the near term future, the pair could look for support in the combination of the 1.2900 level and the weekly S1 simple pivot point at 1.2898. Further below, take into account the low level zone at 1.2820/1.2835. On the other hand, a surge