The Australian Dollar edged higher by 81 pips or 1.09% against the US Dollar on Friday. The currency pair bounced off the lower line of a descending channel pattern during Friday's trading session.
The common European currency declined by 55 pips or 0.42% against the Japanese Yen on Friday. The currency pair breached the 50– and 200– hour SMAs during Friday's trading session.
There are a number of important updates to note in regards to the price of Gold. First of all, the price has pierced the resistance line of the recent June high levels. Secondly, the price has revealed that it is surging in a channel up pattern. In addition, the simple moving averages are left below the bullion. If the metal continues
The US Dollar has encountered resistance against the Japanese Yen in a zone from 111.63 to 111.66. On Friday morning, the rate bounced off this zone and declined to the 111.40 mark, which was supported by the weekly R1 simple pivot point. In the near term future, the rate could find support in the 111.40 level and recover. In this case
The 1.3820 level provided enough resistance for the GBP/USD to pass below the lower trend line of the channel down pattern, which guided the rate since June 23. During Friday's trading hours, the rate fluctuated sideways near the 1.3750 mark. In theory, the pair should decline, as it has no technical support as low as the 1.3677 level, where the
On Thursday, the EUR/USD found enough support in the 1.1840 level and surged. The surge broke the resistance of the channel down pattern, which had guided the rate since June 25. However, the rate found resistance in the 55-hour simple moving average. The SMA caused a decline that on Friday was heading to the 1.1800 mark. In the case that
The US Dollar surged by 77 pips or 0.62% against the Canadian Dollar on Thursday. The currency pair breached the weekly resistance level at 1.2434 during yesterday's trading session.
The Pound Sterling edged higher by 62 pips or 0.40% against the Japanese Yen on Thursday. The surge was stopped by the 200– hour simple moving average during yesterday's trading session.
The 50– hour simple moving average pressured the AUD/USD exchange rate lower during yesterday's trading session. As a result, the Australian Dollar declined by 46 pips or 0.62% against the US Dollar on Thursday.
The EUR/JPY currency pair bounced off a support level formed by the 50– hour simple moving average at 131.60 on Thursday.
On Wednesday, the yellow metal passed the resistance of the 1,765.00 level. Afterwards, the commodity price one by one passed the technical resistance of the 55, 100 and 200-hour simple moving averages. By the middle of Thursday's European trading hours, the price had almost reached the 1,780.00 level. Note the resistance of the descending trend line of the last week's high
The USD/JPY ended the sideways trading around the 110.50 level by sharply surging up. It initially jumped to the zone above the 111.00 level. A following sideways trading ended in a resumption of the surge during early Thursday's hours. The surge was expected to reach the resistance of the weekly R1 simple pivot point at 111.40. In the case that the
The decline of the GBP/USD has reached the 1.3800 level, which provided support for a retracement back up to the 1.3840 level. During the early hours of Thursday's trading, the pair fluctuated between the mentioned levels. In the near term future the rate could either trade sideways between the mentioned levels or make a move up or down. If the GBP/USD surges,
The EUR/USD passed the support of the 1.1850 mark and the previous June low level. In addition a channel down pattern was spotted on Thursday morning, which has guided the rate since June 25 when the rate hit a weekly high level. In the near term future, the rate was expected to continue to decline in the borders of the
The USD/CAD currency pair found support at the 50– hour simple moving average at 1.2369 on Wednesday. As a result, the US Dollar surged by 43 pips or 0.35% against the Canadian Dollar during yesterday's trading session.
The British Pound surged by 89 pips or 0.58% against the Japanese Yen on Wednesday. The currency pair tested the 200– hour simple moving average at 153.72 during Wednesday's trading session.
On Wednesday, the Australian Dollar declined by 32 pips or 0.42% against the US Dollar. The currency pair breached the weekly support level at 0.7505 during Wednesday's trading session.
The single European currency surged by 49 pips or 0.37% against the Japanese Yen on Wednesday.
As expected, the yellow metal's price has broken out of the borders of the descending triangle pattern. It occurred in a sharp move to the 1,751.30 level. Afterwards, a retracement back up to the 1,765.00 mark occurred. During the early Wednesday's trading hours, the pair had declined to the 1,755.00 level. In the case that the rate declines, the 1.750.00 mark
Since the middle of Tuesday's trading, the USD/JPY has been trading in limbo around the 110.50 level. The rate has been kept down by the 55 and 200-hour simple moving averages. In the meantime, support was being provided by the 110.45 level. In the case that the rate declines, it could reach the 110.00 level. Note that the 110.00 level was
The GBP/USD passed the support of the 1.3860 level and declined to the support of the lower trend line of the channel down pattern. The trend line provided the pair with enough support for a recovery to the 1.3860 level. The 1.3860 mark managed to provide enough resistance for the pair to decline. By the middle of Wednesday's trading, the
The decline of the EUR/USD has reached below the 1.1900 level. Moreover, on Tuesday and Wednesday, the rate confirmed the 1.1910 level as resistance. In the near term future, the rate was expected to continue to decline. In theory, the rate should aim at the technical support of the weekly S1 simple pivot point at 1.1866. In the case that
The US Dollar edged higher by 65 pips or 0.53% against the Canadian Dollar on Tuesday. The currency pair tested the 1.2400 level during yesterday's trading session.
The British Pound has declined by 74 pips or 0.48% against the Japanese Yen on Tuesday. The currency pair tested the lower boundary of a descending channel pattern at 152.82 during Tuesday's trading session.