The worse than forecast US Advance GDP data on Thursday caused a surge of the GBP/USD currency exchange rate. Due to the surge, the rate reached 1.3815, as it surged 85 pips. In the aftermath of the jump of the pair, the GBP/USD has been declining. At mid-day on Friday, the rate was finding support in technical levels in the
The EUR/USD ended trading sideways in the range between the 1.1585/1.1590 and 1.1618/1.1625 zones. The rate ended it due to the release of the worse than forecast US Advance GDP data. The GDP caused a 110 pip jump up to the 1.1693 level. During the fundamental surge not only technical levels, but also the previous October high levels were
On Thursday, the US Dollar declined by 49 pips or 0.40% against the Canadian Dollar. The currency pair was pressured by the 50– hour simple moving average during yesterday's trading session.
On Thursday, the British Pound surged by 70 pips or 0.45% against the Japanese Yen. The currency pair breached the 50– hour simple moving average during yesterday's trading session.
On Thursday, the Australian Dollar rose by 56 pips or 0.75% against the US Dollar. The currency pair tested the 0.7550 level during Thursday's trading session.
Upside risks dominated the EUR/JPY currency pair on Thursday. As a result, the common European currency surged by 103 pips or 0.78% against the Japanese Yen during Thursday's trading session.
The price of gold found enough support in the 200-hour simple moving average to surge and pass the 1,800.00 level together with the 55 and 100-hour simple moving averages, which strengthened the round price level. On Thursday morning, the price was testing the resistance of the 1,805.00 level. If the price continues to surge, it would most likely test the resistance
The USD/JPY has confirmed once again that the 113.40 level and the zone above it can provide support. Namely, the pair bounced off the support level on Wednesday and retraced to the resistance levels near 113.90. Near the 113.90 mark, the pair found resistance in the combination of the 55 and 100-hour simple moving averages If the USD/JPY surges, it would
On Wednesday, the GBP/USD found support at 1.3710 and started a recovery. By the middle of Thursday's trading hours, the GBP/USD had reached the 1.3770 level. From 1.3760 up to 1.3777, the pair faced the resistance of the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point. A passing of the 1.3760/1.3777 zone would leave the pair
Since the decline on October 25, the EUR/USD has continued to trade in range between the support of the 1.1585/1.1590 zone and the resistance of the 1.1618/1.1625 zone. Meanwhile, it has been spotted throughout the week that the hourly simple moving averages from time to time manage to impact the direction of the currency exchange rate. In the case of
Downside risks dominated the USD/CAD currency pair on Wednesday. As a result, the US Dollar fell by 114 pips or 0.92% against the Canadian Dollar during Wednesday's trading session.
On Wednesday, the British Pound fell by 125 pips or 0.80% against the Japanese Yen. The currency pair breached the 50– and 200– hour SMAs during Wednesday's trading session.
The AUD/USD currency pair bounced off the lower boundary of an ascending channel pattern at 0.7490 during the first half of Wednesday's trading session.
On Wednesday, the common European currency declined by 74 pips or 0.56% against the Japanese Yen. The currency pair breached the 50– hour simple moving average during yesterday's trading session.
On Tuesday, the decline of the yellow metal's price reached the support of the 200-hour simple moving average and pierced it. However, after piercing the SMA, the price recovered to the 1,705.00 level. On Wednesday, the rate once again found support in the 200-hour simple moving average near 1,785.00. If the metal's price recovers, it would most likely face the technical
The recovery of the USD/JPY ended at the 114.30 level. The USD/JPY did not reach the resistance of the weekly R1 simple pivot point at 114.36, and started a decline. By the middle of Wednesday's European trading hours, the currency exchange rate had reached the 113.55 level. A continuation of the decline of the USD/JPY pair might reach the last week's
On Tuesday, the GBP/USD currency exchange rate bounced off the resistance of the weekly R1 simple pivot point and the 1.3830 mark. The following decline reached the 200-hour simple moving average near 1.3760 and began to trade around the moving average. However, on Wednesday morning, the 100-hour simple moving average provided resistance at 1.3780. The event resulted in a sharp
Since Monday, the EUR/USD has been testing the support of the 1.1585/1.1595 zone. In the meantime, it was spotted that on Tuesday and Wednesday the currency exchange rate failed to recover due to the resistance of the 55-hour simple moving averages. If the 55-hour simple moving average continues to push the pair down, it could pass the support of the
After testing the resistance of the 1,810.00 level, the price for gold began a decline on Tuesday. By 15:00 GMT, the decline had shortly traded below the 200-hour simple moving average near the 1,785.00 level. Meanwhile, the price had passed the supporting line of the previously broken channel up pattern. In addition, note that previous week's support levels have been marked
The medium scale decline of the USD/JPY from the 2017 November high level, which took place in a channel down pattern, appears to have ended. Namely, the currency exchange rate broke the resistance of the pattern, the 55, 100 and 200-hour simple moving averages, the weekly simple pivot point and the 114.00 mark, during the first half of Tuesday's European
The GBP/USD fulfilled the first scenario described on Monday, as it broke the resistance of the 55 and 100-hour simple moving averages and jumped to the 1.3830 level and the weekly R1 simple pivot point at 1.3831. By the middle of Tuesday's trading hours, the pair had bounced off the 1.3830 mark and retreated to the 100-hour SMA at 1.3785. If
The EUR/USD has ended trading sideways in the range between the 1.1615/1.1625 and 1.1665/1.1670 zones. The rate ended the sideways trading by declining to the 1.1590 level. The 1.1590 level provided the pair with support that caused a retracement back to the 1.1615/1.1625 zone, which together with two hourly simple moving averages acted as a resistance. In the near
On Monday, the US Dollar rose by 52 pips or 0.42% against the Canadian Dollar. The currency pair breached the 200– hour simple moving average during Monday's trading session.
Since Monday's trading session, the British Pound has edged higher by 61 pips or 0.39% against the Japanese Yen.