At mid-day on Thursday, the USD/CAD reached above the 1.2850 level, which had acted as resistance since the middle of Wednesday. A continuation of the surge of the US Dollar against the Canadian Dollar might encounter resistance in the weekly R2 simple pivot point at 1.2898 and the 1.2900 level. Higher above, the 1.2950, 1.3000 and 1.3050 levels could act
On April 28, the Bank of Japan released its Outlook Report and Monetary Policy Statement. In general, the bank is set to continue its monetary easing policy, which is weakening the value of the Yen. Namely, the bank is keeping its bank rates at previous levels and 10-year Japanese government bond yield target is set to be the same. Meanwhile,
During the early afternoon trading of Thursday's GMT time zone, the AUD/USD currency exchange rate reached below the 0.7100 mark and the weekly S2 simple pivot point at 0.7086. A continuation of the decline of the Australian Dollar, compared to the USD would most likely aim at the support of the 0.7050 mark and the lower trend line of a channel
The decline of the EUR/JPY urrency pair found support in the 134.85/135.10 zone. Afterwards, the pair traded sideways until the Bank of Japan released its monetary policy statement. In general, the bank is set to continue its monetary easing policy, which is weakening the value of the Yen. Namely, the bank is keeping its bank rates at previous levels
This week, the price for gold revealed that it has been declining in a channel down pattern. In addition, the commodity faces resistance at 1,907.50/1,911.30. During the second half of Wednesday's trading hours, the bullion had declined and traded below the 1,885.00 mark. If the price continues to decline, support might be found in the lower trend line of the
The 127.00 mark has provided enough support to the USD/JPY currency exchange rate for the pair to start a surge. By the middle of Wednesday's GMT trading hours, the USD/JPY had reached above the 128.00 level and technical levels, which surround it. If the US Dollar continues to gain value, compared to the Japanese Yen, the currency pair might test
On Wednesday, it was marked on the GBP/USD charts that the currency pair has been declining in a channel down pattern since April 22. On that day, the rate plummeted due to the worse than expected UK monthly retail sales data. In addition, most recently, the 1.2600 level had acted as resistance. If the Pound continues to decline, compared to the
By the middle of Wednesday's European trading hours, the EUR/USD currency exchange rate had reached below the 1.0600 and approached the weekly S3 simple pivot point at 1.0550. If the rate passes below the 1.0550 mark, the currency exchange rate would have no close by technical support. Meanwhile, round exchange rate levels could act as support. Namely, the Euro could
The USD/CAD pair was declining last week, until the US Federal Reserve policymakers revealed in interviews, how they are preparing for base interest rate hikes that are set to increase the demand for the US Dollar. Due to that reason a surge started, which on Monday had already reached the 1.2750 mark. Note that all such type of fundamental events
The GBP/JPY lost the support of the 167.00 mark and plummeted, during last week's trading. Moreover, on Monday, the rate passed the support line, which connects the April low levels. A continuation of the decline of the Pound against the Japanese Yen might aim at the weekly S2 simple pivot point at 162.23, the 162.00 mark and the 161.00 level. Meanwhile,
The resistance zone at 0.7450 was strong enough to cause a sharp decline of the AUD/USD pair below all noteworthy support levels. The rate sharply plummeted, as by April 25 the rate had reached the 0.7150 level. By doing so, the rate had passed below the March low level at 0.7170. A continuation of the decline of the pair would have
Last week, the EUR/JPY currency pair failed to pass the resistance of the 140.00 mark. Afterwards, a decline started, which by the middle of Monday's European trading hours had reached the 137.20 level. In regards to the near term future, a potential decline of the pair would most likely look for support in the 136.90/137.10 zone and the weekly
The situation on the chart for gold has not changed. Gold continues to find support in the 1,940.00 mark and resistance is provided by the 1,955.00 level and a zone above it. Previous analysis remains relevant. In the near term future, a potential decline of the price for gold might look for support in the 1,940.00, 1,930.00 and 1,920.00 levels, before
The USD/JPY made three attempts at passing the resistance zone at 128.47/128.68. On Friday morning, the rate clearly bounced off the resistance zone, as it passed below the support of the 50 and 100-hour simple moving averages and the 128.00 mark. A continuation of the decline of the US Dollar, compared to the Japanese Yen, the currency pair might look for
Since the middle of Thursday's trading up to the morning hours of Friday, the GBP/USD currency pair traded near the 1.3020 level. Due to that reason, the previous forecast scenarios remained relevant. A decline of the Pound against the US Dollar might look for support in the 1.3000 mark and the April low level zone at 1.2975/1.2990. Meanwhile, a move above the
The April high level zone at 1.0920/1.0938 provided resistance to the EUR/USD currency exchange rate. The event was followed with a decline to the weekly simple pivot point at the 1.0832 level. In the meantime, on Friday morning it was spotted that the rate was finding resistance in the 50-hour simple moving average. If the Euro manages to surge against
Gold continues to find support in the 1,940.00 mark and resistance is provided by the 1,955.00 level and a zone above it. In the near term future, a potential decline of the price for gold might look for support in the 1,940.00, 1,930.00 and 1,920.00 levels, before the 1,900.00 mark is reached. Namely, previous resistance levels could turn into support. On
The retracement of the USD/JPY currency pair eventually found support in the 127.50 mark. By the start of Thursday's US trading hours, the currency pair had already made an attempt to pass the 128.50 level and revealed a resistance zone above it. A decline of the US Dollar against the Japanese Yen would most likely look for support in the
The GBP/USD currency exchange rate confirmed the 1.3080 level and a zone above it as resistance, during the first half of Thursday's trading. The event was followed with a decline, which by mid-day was looking for support near the 1.3030 level. In the meantime, the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point appeared to
On Thursday, the EUR/USD jumped and hit the April high level zone at 1.0920/1.0938. By the middle of the day's GMT trading hours, the rate had bounced off the zone and retraced down to the 1.0880 level. If the Euro continues to decline against the US Dollar, the pair might look for support in the Tuesdays high level zone at
On Wednesday, the USD/CAD passed below the 1.2500 mark. During the early hours of Thursday's trading, the pair found support in the 1.2460 level. By the middle of the day, the rate fluctuated between the 1.2460 and 1.2500 levels. If the pair recovers above the 1.2500 mark, the weekly S1 simple pivot point at 1.2527 might act as resistance. Higher above,
The GBP/JPY pair passed below various support levels during Wednesday's trading. Eventually, the rate found support in the 166.50 mark. Afterwards, a recovery ot the weekly R3 simple pivot point at 167.84 occurred. During the middle of Thursday's trading, the rate was located between the 167.00 and 167.50 levels. A surge of the pair above 167.50 would have to face the
Recent fluctuations of the AUD/USD currency pair have caused an adjustment of the channel up pattern, which has guided the rate up since Tuesday. Meanwhile, it was spotted on Thursday that the pair has been fluctuating between the support of the weekly simple pivot point at 0.7424 and the resistance of the weekly R1 simple pivot point at 0.7459.
On Wednesday, the EUR/JPY found support in the 138.50 mark, before starting a surge. By the middle of Thursday's trading, the pair had reached the 140.00 mark, which acted as resistance. In addition, the Tuesday's high level zone at 139.60/139.70 appeared to be acting as support. If the Euro continues to surge against the Japanese Yen, the pair might encounter