As it turned out, the Pound failed to extend the rally from the monthly S3 and instead negated most of the Wednesday's gains.
Following a decision of the Swiss National Bank to abandon the 1.20 limit of EUR/CHF, the EUR/USD pair crashed noticeably on Thursday to reach the lowest level in nine years.
The pair regained all the previous losses, letting the NZD to depreciate versus the US counterpart up to the 100– day SMA at 0.789 at the daily chart.
The bullish market participants are constantly trying to bring the USD/CAD pair lower.
The market shoved at leas some move today, moving the pair for 145 pip above the last close.
The pair met another support at the weekly S3 at 135.02 level.
For the second consecutive day Gold is showing almost the same tendency in terms of overall movements of the price.
USD/JPY settled beneath the 23.6% Fibo and 55-day SMA yesterday, suggesting the US Dollar is likely to weaken more before the bulls regain control of the market.
Having gained a solid foothold above the monthly S3, the Sterling carried on with the bullish correction, winning more than 70 pips against the Dollar.
Even though the overall daily change was rather small, EUR/USD pair showed one of the biggest volatilities at least during last seven days.
It looks like Wednesday was rather quiet for most of the case since the pair closed at the same level from the previous day at 0.768.
The USD/CAD pair fluctuated a little during the Wednesday, however, stayed generally unchanged from the last day close at 1.1956.
The pair was highly volatile today as it fluctuated for about 120 pips and the market was still unable to define the value of the Aussie.
The EUR/JPY tumbled 189.69 pips today to meet the daily low at 137.005.
Following a strong jump above the weekly R1 to hit $1,244, Gold lost the vast part of its yesterday's gains to fall even below the monthly R1 and close the day at $1,234.
Despite the odds against, the Yen keeps gaining ground against the US Dollar.
The monthly S3 at 1.5145 continues to underpin the Cable that in turn keeps trading sideways.
It seems that bears gained some strength around the level of weekly PP at 1.1857, as the EUR/USD dropped on Tuesday below 1.18 and went even further down.
The NZD/USD traded almost identically the same, in comparison with the previous day.
The USD/CAD pair fluctuated between the weekly R2 and R1 at 1.198/ 1.1924, respectively.
The pair remained flat on Tuesday, trading in a zig-zag motion and spiking from the 4– hour 55– and 100– SMA cross.
The Euro continued to depreciate for the fourth consecutive day versus the Yen on Tuesday, sliding closer to the weekly S1 level at 138.96.
A strong bullish tendency for Gold continued on Monday, as XAU/USD cross passed through a major resistance line represented by the monthly R1 at $1,233, as well as the 38.2% Fibonacci retracement just below it.
Without the fundamentals to drive the pair, USD/JPY stayed unchanged just above 118.