Despite piercing resistance zone above 1.2660, the GBP/USD declined after the week's fundamental events. Eventually, the decline found support in 1.2500 and was observed to be recovering. At mid-Friday, the pair appeared to be encountering resistance in 1.2540. A move above 1.2540 is expected to face resistance in the weekly simple pivot point at 1.2571, the 50, 100 and 200-hour simple
In the aftermath of the US CPI caused EUR/USD bounce, the EUR/USD rate found resistance in the 1.1000 mark. The round level caused a decline, which by mid-Friday had passed below 1.0900. A continuation of the decline is expected to look for support in the combination of the weekly S2 simple pivot point at 1.0867 and the lower trend line
The price for gold was looking for support, as the US Consumer Price Index release caused a sudden drop of the USD. However, it appears that the surge of the commodity price has been already stopped by the 2,050.00 mark and the upper trend line of a channel up pattern. A breaking of the channel and the 2,050.00 mark would most
The release of US inflation data caused a drop of the USD. On the USD/JPY charts it resulted in the pair passing below the support range at 134.60/134.70. The ongoing decline might look for support in the 134.00 and 133.50 levels, before approaching the cluster of support levels near 132.00. Meanwhile, a potential recovery of the US Dollar could encounter resistance in
The release of the US Consumer Price Index revealed that inflation has acted almost as expected. Due to this reason the US Dollar lost value and the GBP/USD moved higher. The rate managed to beat the resistance zone at 1.2650/1.2670. The ongoing surge of the pair might encounter resistance in the 1.2700 mark and the weekly R1 simple pivot point
The EUR/USD was looking for support in the weekly S1 simple pivot point, as the US CPI data release caused a surge of the rate. Following the release, the pair was heading to the 1.1000 mark and the technical levels above it. The pair might encounter resistance in the 1.1000 mark. Higher above, note the combination of the 50,
Prior to the US CPI release, the price for gold steadily continued to gain. By mid-Tuesday, the pair had reached above 2,030.00. The ongoing surge of the metal's price could encounter resistance in the 2,050.00, 2,060.00 and 2,080.00 levels that have acted as resistance during the second part of past week's trading. On the other hand, a decline is almost certainly
The USD/JPY has been fluctuating around the 135.00 mark since late Friday. The rate has revealed resistance zones at 135.10/135.35 and support at 134.60/134.70. Meanwhile, the rate has been ignoring the 50, 100 and 200-hour simple moving averages. In general, the sideways trading is explained with the markets waiting for Wednesday's US Consumer Price Index data. A move below 134.60 would
The GBP/USD has bounced off the 1.2650/1.2670 range. Note that this range marks a 2022 high level zone for the pair. By mid-Tuesday the pair had declined to the 1.2600 mark and the 100-hour simple moving average. A move below this level could look for support in the weekly simple pivot point at 1.2571 and the 200-hour simple moving average
The EUR/USD was heading to the support of the 1.0965 level on Tuesday morning. A move below this level could look for support in the weekly S1 simple pivot point at 1.0942. In the case of the pair declining below the pivot point, note the 1.0900 mark. However, a recovery of the Euro against the US Dollar might encounter
The price for gold jumped after the Fed rate hike and touched the 2,080.00 mark. However, the event was followed by a decline on Friday, as markets expected a possible additional banking sector bail out. On Monday, there was no bail out and gold resumed to surge. By mid-day, the price had almost reached back to 2,030.00. The ongoing surge
The USD/JPY found support in the 133.50 level on Thursday. Since the event, the pair has been surging. On Monday, the pair had reached above 135.00. An extension of the ongoing USD move higher would have to break the 100 and 200-hour simple moving averages, the weekly simple pivot point at 135.35 and the 135.50 level. Higher above, note the
The GBP/USD has surged against the US Dollar above the 1.2660 level. This is the highest level seen since April 2022. A continuation of the surge of the Pound against the US Dollar would encounter resistance in the combination of the 1.2700 mark and the weekly R1 simple pivot point at 1.2706. However, a decline of the pair could look for
The EUR/USD dipped to the support zone near 1.0965, before recovering on Friday. During Monday's trading, the currency pair was fluctuating near the 1.1030 level. However, during the early hours of US trading, the pair was declining below support levels at 1.1015/1.1025. An extension of the decline is expected to look for support in the 1.0965 level. Further below, note
Prior to the US Federal Reserve rate hike, the USD/JYP declined to the support of the 135.00 level. As the rate was hiked, it appeared that a recovery started. A continuation of the USD surge against the Japanese Yen could be slowed down by the 136.00 mark, the combination of the 50 and 100-hour simple moving averages near 136.50. Higher
The GBP/USD started a surge on Tuesday, which pierced the April high level at 1.2580 by the US Fed rate hike done on Wednesday at 18:00 GMT. In the aftermath of the fundamental event, the rate appeared to have bounced off the high level's resistance. A potential move above 1.2580 could be slowed down by the 1.2600 mark, the weekly R1
Prior to the Federal Reserve interest rate hike, the EUR/USD approached the 1.1085/1.1095 resistance zone. After the hike and the follow up press conference, the currency exchange rate continued to test the resistance. If the Euro strengthens during the upcoming ECB rate hike, the pair could reach above 1.1095 and 1.1100. In this case scenario the pair might be slowed
Gold spiked on Monday. However, the spike was followed by a drop back to previous levels. On Tuesday, the price continued to trade between 1,980.00 and 1,990.00. In general, the situation remains unchanged since April 19, as the commodity price waits for the US Federal Reserve rate hike. A recovery of the metal's value might encounter resistance in the 2,000.00 mark
The USD/JPY has managed to reach above 137.00 and 137.50 levels. During the surge, some resistance was provided by the weekly R1 simple pivot point at 137.53. It was observed during mid-Tuesday that the pair was consolidating in the expectations of the Wednesday's Federal Reserve rate hike. In the case of a strengthening of the USD, the rate could be slowed
The GBP/USD has passed below the support levels near 1.2500. By mid-Tuesday, the rate had touched the 1.2460 level. An extension of the ongoing decline might find support in the weekly S1 simple pivot point at 1.2437. Further below, note the support zones at 1.2387/1.2390 and 1.2345/1.2350. On the other hand, a recovery of the pair is set to face the
The EUR/USD has passed below the support zone at 1.0965 and the weekly S1 simple pivot point at 1.0953. However, it was observed that despite being pierced the pivot point had held. A recovery of the Euro against the US Dollar might face resistance in the 1.1000 mark and the 50 and 200-hour simple moving averages. Higher above, note the
In general, the price for gold remains in previous range. However, take into account that round price levels appear to be providing short term impact on the commodity price. Meanwhile, broader support and resistance zones remain unchanged. A recovery of the metal's value might encounter resistance in the 2,000.00 mark and the 2,000.00/2,010.00 range. Higher above, note that round price levels
The release of the higher than expected US Core PCE Price Index has indicated that the Federal Reserve continues to fail its fight against US inflation. It signals that the Fed is set to hike interest rates and continue with its hawkish monetary policy. Namely, the value of the US Dollar is set to rise due to rising US interest