During the high volatility caused by Jerome Powell, the GBP/USD fluctuated between 1.2650 and 1.2550. During the event it was shown that the 50-hour simple moving average can act as resistance and the 1.2550 mark acts as support. On Monday, the moving average was keeping the rate down. A resumption of the broader Pound's decline against the US Dollar would
The speech done by Jerome Powell at Jackson Hole caused major volatility of the EUR/USD. the pair traded between the Friday's low level at 1.0766 and the resistance of the 1.0835/1.0845 range. On Monday, the pair traded almost flat between 1.0800 and 1.0820. A move above 1.0820 could encounter resistance in the combination of the weekly simple pivot point
The breaking of the 1,905.00 level's resistance resulted in a surge to the 1,920.00 level and the 1,920.25/1,923.00 range's resistance. By late Thursday's trading, the resistance continued to hold. Meanwhile, the 50-hour simple moving average was catching up to the rate and could push the rate through the resistance range. A move above 1,923.00 could be slowed down
The USD/JPY currency pair's decline below 145.00 has found support in the 144.60 level. This level held and caused a recovery of the USD/JPY that managed to pierce one resistance after another. By late Thursday's trading hours, the pair had reached the 146.00 level. A move above 146.00 mark could face resistance in the combination of the 146.50 level, 146.30/146.55
Despite initially finding support in the 1.2620 level and afterwards surging up to 1.2725, during the second half of Thursday's trading the GBP/USD rate declined. By 18:00 GMT, the pair had reached below the 1.2620 level's support. At the time of analysis the pair was sharply heading to the 1.2600 mark. In the case of passing below 1.2600 the rate
The EUR/USD found support near the 1.0800 mark without properly reaching it. The follow up recovery eventually was met by the resistance of the 50 and 100-hour simple moving averages near 1.0860. The SMAs provided enough resistance for the rate to decline back to 1.0820, where the weekly S1 simple pivot point was acting as support. In general, the
At mid-day on Wednesday, the price for gold managed to break the resistance of the 1,902.50/1,905.00 range. The move occurred with the support of the 200-hour simple moving average. A previous attempt failed due to the SMA acting as resistance and strengthening the mentioned range. On Wednesday, the SMA moved outside the range and below the price. The target for
The USD/JPY has passed below the support of the weekly simple pivot point at 145.51 and the 145.50 mark. On Wednesday, it appeared that the pair was confirming the pivot point, round level and the 200-hour simple moving average as resistance. A resumption of the ongoing decline would most likely soon test the support of the 144.90/145.15 range. Below the
The release of the United Kingdom's Manufacturing and Services sector Purchasing Managers Indices has caused a major decline of the Pound's value. The survey results were expected to be low. However, the actual results were far below the already pessimistic expectations. On August 23, the data caused a decline, which pierced below a cluster of support levels near 1.2740. A
S&P Global has released the Manufacturing and Services Purchasing Managers Index survey results for the Eurozone countries. In general, the data has shown a larger than expected activity slowdown in the two sectors. The news caused a decline of the Euro. On the EUR/USD charts the event caused a 56 base point or 0.51% drop. From a technical perspective the
The price for gold found support in the 1,885.00 level and started a recovery. On Tuesday, the recovery reached above 1,900.00. However, resistance was encountered in the combination of the 1,902.50/1,905.00 range and the 200-hour simple moving average. A decline of the metal's price could look for support in the combination of the 1,895.00 level and the 50 and 100-hour
The USD//JPY has been broadly trading between the support of the 145.00 mark and the 146.50 level since August 14. In general, both of these levels are surrounded by support and resistance zones. Namely, support is found at 144.90/145.15 and resistance is provided by the 146.30/146.55 range. On Tuesday, the pair bounced off the resistance zone and declined to find
On Tuesday morning, the GBP/USD pierced the resistance of the 1.2782/1.2792 range. However, the 1.2800 stopped the rate and forced it back down to the 1.2760 level. An extension of a retracement downwards is expected to look for support at two levels. First is the combination of the 50 and 100-hour simple moving averages near 1.2750. Further below, take into
The EUR/USD has bounced off the resistance zone at 1.0930/1.0950. The event was followed by a sharp decline on Tuesday morning. By mid-day, the rate had passed below the support of the 1.0900 mark and the combination of the 50 and 100-hour simple moving averages and the weekly simple pivot point at 1.0890. An extension of the ongoing decline is
The price for gold has continued to decline, as support levels turn into resistance and new low levels are reached. On Tuesday, the commodity shortly traded below the 1,900.00 mark. However, support was found in the lower trend line of the broader channel down pattern. An extension of the ongoing decline is set to look for support in the 1,900.00
The channel up pattern had continued to guide the USD/JPY through resistance levels as far as 145.85. However, on Tuesday a decline occurred during which the lower trend line of the pattern was broken. By late trading hours of the day, the pair was finding support in the 144.90/145.10 range and the 50-hour simple moving average. A resumption of the
The GBP/USD has shortly traded below the 1.2667/1.2685 range on Monday. However, the decline did not result in a broad descending of the pair, as support was found in 1.2620. On Tuesday, the pair had recovered and traded near 1.2750. The 50, 100 and 200-hour simple moving averages failed to stop the GBP recovery against the USD. A continuation of
The EUR/USD has retreated below the 1.0935/1.0950 range and shortly traded below 1.0900. On Tuesday, the 1.0950 level was acting as resistance and support was found in 1.0900. A move above 1.0950 is expected to face resistance in the combination of the 100 and 200-hour simple moving averages near 1.0960, before the rate reaches the weekly simple pivot point at
Initially, the US CPI was at the forecasts or slightly lower, which caused a drop of the US Dollar on Thursday at 12:30 GMT. However, then the markets realized that the data has showed first growth in 13-months. Gold reacted to the news with a breaking of the resistance of the 1,920.30/1,922.60 range and the 50-hour simple moving average
Initially, the US CPI was at the forecasts or slightly lower, which caused a drop of the US Dollar on Thursday at 12:30 GMT. However, then the markets realized that the data has showed first growth in 13-months. On the USD/JPY charts there was an initial fake breaking of the channel up pattern, as the pair shortly traded below
Initially, the US CPI was at the forecasts or slightly lower, which caused a drop of the US Dollar on Thursday at 12:30 GMT. However, then the markets realized that the data has showed first growth in 13-months. This caused a piercing of the resistance range and 1.2800 mark, before the pair started a decline. The decline passed below
Initially, the US CPI was at the forecasts or slightly lower, which caused a drop of the US Dollar on Thursday at 12:30 GMT. However, then the markets realized that the data has showed first growth in 13-months. On the EUR/USD charts it resulted in an initial piercing of the resistance levels as high as 1.1060, before the pair
The price for gold has passed below the 1,930.00/1,932.25 range. Moreover, the previous support has turned into resistance. On Wednesday, the price was facing the 1,930.00/1,932.25 zone's and the 50-hour simple moving average's resistance. Meanwhile, support was found in the 1,925.00 level and the 1,920.30/1,922.60 range. In the case of a decline below 1,920.30 the commodity price could look for
On Tuesday, the USD/JPY managed to reach above the 142.70/143.10 range and the 100-hour simple moving average. The event was followed by the pair encountering resistance in the combination of the 143.50 level and the weekly R1 simple pivot point. By mid-Wednesday, the rate had continued to test the resistance and the 142.70/143.10 range had turned into support. A move