At mid-day on Wednesday, the USD/JPY pair's surge hit the 134.50 mark. Meanwhile, it was spotted that the 133.50 and 134.00 levels and the weekly R2 simple pivot point failed to act as resistance. A continuation of the USD surge against the Japanese Yen could encounter resistance in a round exchange rate level and initiate a consolidation by slightly declining or
Despite piercing the 1.2460/1.2480 zone's support, the GBP/USD recovered on Tuesday. During the late hours of the day's trading, the pair encountered resistance in the 1.2600 mark. By the middle of Wednesday's trading, the pair had declined below the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.2535/1.2565. A continuation of the decline of the
Since the last failed attempt at passing the 1.0740/1.0760 zone, the EUR/USD has been trading around the 1.0700 mark. Namely, the pair has declined and found support at 1.0660, before retracing back up to the 1.0740 level. At mid-day on Wednesday, the currency pair was trading between the resistance of the 1.0740 level and the support of the technical
Since declining on Friday, the price for gold has fluctuated around the 1,850.00 level. Meanwhile, the price was slightly impacted by the 100 and 200-hour simple moving averages. In general, previous forecasts remain unchanged A potential resumption of the surge of the yellow metal's price would have to once again pass the 1,865.00/1,870.00 zone, prior to reaching new high levels. However,
Since the second part of Friday's trading, the USD/JPY has been testing the resistance of the 131.00/131.40 zone. Meanwhile, support was being provided by the combination of the 130.50 level and the lower trend line of the channel up pattern. If the pair manages to reach above 131.40 resistance is expected to be found almost immediately in the 131.50 and 132.00
On Monday, the 1.2460/1.2480 zone once again acted as support, as the GBP/USD surged to the resistance of the 200-hour simple moving average near 1.2575. If the Pound manages to reach above the 200-hour simple moving average and the 1.2580 mark, expect resistance to be found in the 1.2600 mark and the weekly R1 simple pivot point at 1.2611. On the
The bounce off from the resistance zone at 1.0740/1.0760 found support in the 50-hour simple moving average close above the 1.0700 level. During the first half of Monday's trading, the rate continued to fluctuate in the 1.0710/1.0750 range. In general, previous forecasts remain intact. If the Euro recovers against the US Dollar, the pair would have to pass the 1.0740/1.0760
On Thursday, the price for gold managed to reach above the 1,865.00/1,870.00 resistance zone. However, even before reaching the 1,875.00 level, the price started to decline. On Friday, the price had found support in the 50-hour simple moving average near 1,857.00. A potential resumption of the surge of the yellow metal's price would have to once again pass the 1,865.00/1,870.00 zone,
On Friday morning, the USD/JPY found enough support in the 129.50/129.80 zone to start a surge. By the middle of the day's trading, the pair had already passed above the 130.50 mark. If the US Dollar continues to surge against the Japanese Yen, resistance is most likely going to be provided by the 131.00/131.40 zone, which captures the April high levels. Meanwhile,
The GBP/USD found enough support in the 1.2460/1.2480 zone on Thursday to sharply surge up to the weekly simple pivot point at 1.2588. The pivot point acted as resistance and caused a decline to the 1.2520 level. At mid-day on Friday, the pair was highly volatile between the support of the 50-hour simple moving average near 1.2540 and the resistance
On Friday morning, the EUR/USD bounced off the resistance of the 1.0740/1.0760 zone. The following decline eventually reached the support of the 50-hour simple moving average at 1.0705. The touching of the 50-hour SMA was consistent with the dip, which was caused by the release of the monthly US employment data at 12:30 GMT. If the Euro recovers against the
At mid-day on Thursday, the US ADP Non-farm Employment data release caused a sell off of the US Dollar. On the USD/CAD the event resulted in a decline below the 1.2600 mark. On Friday morning, the rate fluctuated almost flat near the 1.2570 level. If the pair resumes its decline, the USD/CAD could look for support in the 1.2550 mark.
During the night between Thursday and Friday, the GBP/JPY currency pair reached above the 162.95/163.30 zone. However, it was spotted that the 163.50 level had immediately acted as resistance. If the rate passes above 163.50, the GBP/JPY currency exchange rate might encounter additional resistance in the 164.00 and 164.50 levels, before reaching the weekly R3 simple pivot point at 164.69. On
The support of the 0.7140 level was enough to cause a major surge of the AUD/USD rate. the surge shortly paused at 0.7200 and 0.7224/0.7230. During the midnight hour to Friday, the pair touched the 0.7280 level, before retracing down to look for support. Support appeared to be found in the 0.7250 mark and the weekly R2 simple pivot point
The 50-hour simple moving average has continued to push the EUR/JPY rate up. On Thursday, the pair reached above the 139.00 mark and the weekly R3 simple pivot point at 139.39. During the early hours of Friday's European trading, the pair reached above 139.50 and was heading to the 140.00 mark. The 140.00 level is also the April 2022
In the aftermath of the sharp and narrow decline, the USD/CAD currency pair has begun to trade between the support of the weekly S2 simple pivot point at 1.2607 and the resistance zone at 1.2680/1.2687. If the US Dollar resumes its decline against the Canadian Dollar, the currency pair would have to pass the weekly S2 simple pivot point and
Since early Tuesday's trading hours, the GBP/JPY currency pair has been trading between a support zone at 162.00/162.20 and resistance at 162.95/163.30. A move below the support zone at 162.00/162.20 might look for support in the 161.75 level, the weekly R2 simple pivot point at 161.68 and the 100-hour simple moving average. A failure of this combination to hold is highly
On Thursday morning, the AUD/USD currency pair passed below the support line of the channel up pattern. However, the pair quickly found support in the 0.7140 level and started a recovery. By the middle of the day's US trading hours, the pair had recovered to the combined resistance of the 0.7200 mark and the weekly R1 simple pivot point at
This week, the EUR/JPY currency pair managed to reach above the resistance zone at 138.00/138.35. On Wednesday, the rate found resistance in the 139.00 mark and confirmed the 138.00/138.35 range as support. The Euro could surge against the Japanese Yen due to the approaching support of the 50-hour simple moving average. A potential surge would have to break the
On Wednesday morning, the price for gold reached below the support zone of the mid-May low and high levels at 1,832.50/1,835.80. However, at mid-day the decline got exhausted, as a surge occurred. The rate quickly reached the 1,850.00 mark and the three hourly simple moving averages. If the commodity price surges above the 50, 100 and 200-hour simple moving averages and
The surge of the USD/JPY currency pair has reached the high level zone at 129.50/129.80. A move above 129.80 could encounter resistance in the 130.00 and 130.50 levels, before approaching the 131.00/131.40 zone. The zone captures the pair's April high levels. However, a decline of the rate might find support in the weekly R2 simple pivot point at 128.90 and the 129.00
At mid-day on Wednesday, the GBP/USD currency pair passed below the support of the 200-hour simple moving average. The event indicated that the pair could reach new low levels. However, support was almost immediately found in the 1.2560 mark. If the Pound declines against the US Dollar below the 1.2560 mark, the currency exchange rate might look for support in the
The EUR/USD surge did not reach the 1.0800 mark, as it started a decline during the midnight hours to May 31. The following decline eventually found support in the 200-hour simple moving average near 1.0680. The moving average provided enough resistance for a surge to begin. The surge eventually found resistance in the 1.0740/1.0760 zone. On June 1, the
On Monday morning, the price for gold found support in the 1,850.00 mark and shortly surged above the 1,860.00 level. However, by the middle of the day's European trading hours, the commodity price had declined and looked for support in the 50 and 100-hour simple moving averages. A resumption of the commodity price surge is expected to encounter resistance in the