GBP/USD was trading between the 200-hour SMA and the weekly S1 on Wednesday.
Wednesday's trading session was beneficial for bulls, as the Euro managed to gain 65 pips against its American counterpart during the second part of the day.
The New Zealand Dollar has continued to decline further south against the US Dollar. By the end of Tuesday's session, the exchange rate has reached the lower boundary of an ascending channel.
The upside risk continues to dominate the market as of Wednesday's. Bulls continue to prevail over the currency pair. However, the surge has been temporarily stopped by the weekly resistance level at 1.30.
Bears picked up momentum after the AUD/USD currency pair hit strong resistance formed by the 100– hour simple moving average near the 0.7624 mark during the early hours of Tuesday's trading session.
The Eurozone single currency has been moving gradually up against the Japanese Yen for the fourth consecutive trading session. The price movement was supported by the combined effort of the 55– and 100-hour SMAs.
On Tuesday, the yellow metal finally managed to break out from its diminishing trading range between the monthly PP and the 55– and 100-period (4H) SMAs at 1.301.00 and 1.297.00, respectively.
The US Dollar continues to strengthen against its Japanese counterpart for the third consecutive session.
The Pound made two notable jumps against the US Dollar on Tuesday.
EUR/USD showed high volatility on Tuesday.
The New Zealand Dollar remained stable against the US Dollar on Monday, as it was confined between the bounds of 0.7059/0.6998 and also the 55– hour simple moving average.
Upside risks prevailed in the market on Monday, thus sending the US Dollar to advanced 69-pips against the Canadian Dollar.
The Australian Dollar made no significant changes to its overall price range against the US Dollar on Monday, as the currency pair continued to move sideways for the third consecutive trading session.
The previously described scenario on Monday regarding the common European currency against the Japanese Yen has occurred. The currency reversed north by the end of trading session.
Gold has been trading sideways against the US Dollar for a week now.
The US Dollar gained 66 pips against the Japanese Yen on Monday.
Bears dominated the GBP/USD exchange rate yesterday.
No significant changes were introduced to EUR/USD's positioning on Monday, as it remained trading along the 55-hour SMA
Positions Today Yesterday % Change Longs 58% 56% 3.45% Shorts 42% 44% -4.76% Indicator 4H 1D 1W MACD (12;
The USD/CAD exchange rate has been trading in a triangle like pattern since last week. The pair has been bouncing between the upper and lower boundaries of the medium-term triangle.
The AUD/USD currency pair has made no significant advances during the last session, as any attempts to move below the 0.75 regions was limited by the support of the weekly pivot point.
Upside risks dominated the market on Friday and thus sent the single European currency to surge against the Japanese Yen. This moves resulted in the pair to breached the 55– and 100-hour SMAs.
Gold is showing no changes in its positioning against the US Dollar for the sixth consecutive session.
USD/JPY was trading in a neat channel down for last two sessions.