At midnight to Thursday, the EUR/JPY currency pair tested the resistance zone at 136.50/136.80. The rate bounced off the resistance and declined to the 134.25 level, before a recovery started. During the mid-day hours, another test of the 136.50/136.80 zone was highly likely. If the rate manages to reach above the 136.80 level, the 137.00 and 137.50 levels could act
Despite initially holding, the lower trend line of the post May 16 channel up pattern failed to provide enough support on Thursday morning. By the middle of the day's European trading hours, the price for gold had not only passed below the trend line, but also confirmed it as resistance. The trend line was acting as resistance together with the
On Thursday morning, the USD/JPY had failed at its second attempt at passing the 127.50 level and a resistance zone, which surrounds it, as the head of the Bank of Japan Haruhiko Kuroda commented on monetary policy and caused a surge of the Japanese Yen. The Governor of the Bank of Japan stated that the Japanese central bank could
The GBP/USD ended its sideways trading by breaking the resistance zone at 1.2555/1.2560. Afterwards, the pair tested the resistance of the May high level zone at 1.2600/1.2640. By the middle of Thursday's European trading hours, the pair had returned to the 1.2555/1.2560 level and appeared to be confirming it as support. If the pair declines below 1.2555 and 1.2550, the 50
On Wednesday, the support of the 1.0625/1.0640 range held and a surge occurred, as the 100-hour simple moving average approached the pair from below. However, on midnight to Thursday the pair encountered resistance in the 1.0700 level, despite shortly reaching above it. A resumption of the surge of the Euro against the US Dollar is expected to test the
The price for gold reached the 1,870.00 level during Tuesday's trading hours. Afterwards, a decline started. During the early hours of Wednesday's US trading, the price was looking for support in the 1,850.00 level. Meanwhile, Dukascopy Analytics marked on the chart the channel up pattern, which has guided the commodity price from the May 16 low level. If the commodity price
On Tuesday, the decline of the USD/JPY pair found support in the 126.50 level. Namely, support was provided by the 126.37/126.50 zone. By the start of Wednesday's US trading hours, the pair had reached the 50-hour simple moving average, which acted as resistance. However, at 14:30 GMT, the pair broke the resistance and started a surge. If the pair continues to
The markets appear to have taken in the information about the UK market, which was given by the UK PMIs and caused the drop on Tuesday. It is assumed because the GBP/USD has revealed support and resistance zones. Support zone is located at 1.2472/1.2480. Meanwhile, resistance is at 1.2555/1.2560. If the Pound recovers against the US Dollar, the currency pair would
The EUR/USD eventually bounced off the resistance of the 1.0750 mark and by the middle of the day's trading, the pair had reached below the support line of the channel up pattern, which had guided the surge since mid-May. However, support was almost immediately found in the 1.0625/1.0640 range, the 100-hour simple moving average and the weekly R1 simple
On Tuesday, the USD/CAD jumped and reached the 1.2875 level. Afterwards, a decline back to the 1.2800 mark and the 50-hour simple moving average occurred. On Wednesday, the currency pair recovered and approached the 200-hour simple moving average near 1.2845. If the US Dollar recovers against the Canadian Dollar, the rate would have to pass the resistance of the weekly simple
The decline, which was caused by the UK PMI data release, found support in the 158.00 mark. The event was followed by a recovery up tot he resistance of the weekly simple pivot point at 159.65. During Wednesday's early European trading hours, the pair bounced off the resistance zone and appeared to be heading lower. The decline of the GBP/JPY could
The 0.7060 provided the AUD/USD with support, which was enough to cause a surge and additional testing of the resistance of the weekly R1 simple pivot point at 0.7117. On Wednesday morning, the pair bounced off the resistance level and declined to the 100-hour simple moving average near 0.7070. A move below the 0.7070 and 0.7060 levels could result in a
On Wednesday morning, the EUR/JPY currency exchange rate declined below the support of the 50 and 100-hour simple moving averages and reached the 135.50 level. A move below the 135.50 level could look for support in the 200-hour simple moving average near 135.30 and the weekly simple pivot point at 135.14. Further below, take into account the late May
The price for gold has found support in the 50-hour simple moving average. By the middle of Tuesday's trading hours, the SMA had stopped three declines of the metal's price. If the 50-hour simple moving average continues to push the price up, the 1,865.00 level could act as resistance, before testing the resistance of other round price levels. On the other
The USD/JPY encountered resistance in the 100-hour simple moving average and the 128.00 mark at midnight to Tuesday. During the first half of Tuesday's trading hours, the pair had declined and approached the support of the 127.00 level. In the case that the pair reaches below the 127.00 mark, the weekly S1 simple pivot point at 126.60 might act as support.
On Tuesday, at 08:30 GMT, the GBP/USD plummeted because of the publication of the Markit Flash Manufacturing and Services Purchasing Managers Index survey results. The Pound lost value due to the revelation that the Services PMI was at 51.8 instead of the forecast 56.9. At mid-day, the rate's decline had paused, as the pair found support in the 100-hour simple
The surge of the Euro, which was caused by the ECB, continued on into Tuesday's trading. During the early hours of the day, the EUR/USD reached the resistance of the weekly R2 simple pivot point at 1.0737. A move above the pivot point would highly likely encounter resistance in the 1.0750 and 1.0800 levels, before reaching the upper trend line
On Monday, the USD/CAD currency pair found support in the trend line, which connects the low levels of May 17, 19 and 20. On Tuesday, the currency pair was fluctuating between the support of the 1.2780 level and resistance at 1.2810. In the case of the USD surging against the Canadian Dollar, the pair would have to pass the 1.2810 level
On Tuesday morning, the GBP/JPY currency exchange rate plummeted, as the Pound dropped due to a lot lower Purchasing Managers Index survey results. Namely, the UK Services PMI came in at 51.8, compared to the forecast of 56.9. By 09:30 GMT, it appeared that the decline had found support in the 159.00 level. If the pair declines, support could be found
The recovery of the Australian Dollar against the US Dollar encountered resistance at the 0.7123/0.7126 zone and started a decline, which found support in the 50-hour simple moving average. On Tuesday morning, the AUD/USD currency exchange rate declined below the 50-hour simple moving average near 0.7080. If the pair continues to decline, it might find support in the combination
This week, the President of the European Central Bank Christine Lagarde revealed that the ECB is set to hike interest rates in July and that by September the Euro base rate would be out of the negative zone. This caused a surge of the EUR/JPY pair above the mid-May high level zone at 136.50/136.75. However, after the move upwards,
Gold has managed not only to break the descending channel up pattern and the 1,850.00 mark, but also has confirmed both as support. By the middle of Monday's trading hours, the commodity price had reached the 1,865.00 level. At mid-day, the price appeared to be consolidating by retracing downwards. If the metal continues to decline, it is expected to look for
On Friday, the USD/JPY revealed a new resistance zone at 128.20/128.30. On Monday, the resistance zone was strengthened by the new weekly simple pivot point at 128.19 and the 100-hour simple moving average. Meanwhile, the currency pair had retraced to the 127.50 mark. If the US Dollar recovers against the Japanese Yen, it would have to pass the 128.20/128.30 zone and
The GBP/USD found enough support in the 100-hour simple moving average to start a surge. The surge eventually reached the 1.2500 mark and the rate traded near the level, before a surge above the 1.2500 started on Monday morning. By the middle of the day's trading, the 1.2600 mark had been tested. A continuation of the surge of the Pound against