Even though the Euro has increased its trading range against the US Dollar during the previous session, the pair has failed to form a distinctive movement either direction.
As it was forecast the New Zealand Dollar extended its gains until it finally reached the next resistance level against the Greenback.
The consolidation, which started on Monday, on the USD/CAD currency pair has broken the previously speculated channel down pattern. Namely,
As it was expected, the Australian Dollar continued to consolidate against the US Dollar in the last 24 hours up to the middle of Tuesday's trading. Moreover,
The common European currency continued to surge against the Japanese Yen, as it was forecast on Monday, until it reached the monthly resistance level at the 136.00 mark.
Gold was stable against the US Dollar on Monday.
The bearish pressure continued to prevail on Monday, thus sending USD/JPY towards the combined support of the monthly S2 and the weekly S1 circa 110.30.
Similarly to other major currency pairs involving the US Dollar, GBP/USD was trading sideways for the most session on Monday.
Apart from a 50-pip surge md-Monday, the common European currency showed no intention to leave its narrow trading range, thus leaving the market at a relative equilibrium.
After the plunging of the New Zealand Dollar against the US Dollar, which took place on Friday, the currency exchange rate suddenly recovered.
The US Dollar stopped its depreciation against the Canadian Dollar on Monday. The reason for the stop of the surge and a resulted short term surge was the encountering of a combined support level at the 1.24 mark.
The Australian Dollar on Monday stopped the surge against the US Dollar, as the pair encountered medium term ascending channel pattern's resistance line. Moreover, the resistance was strengthened by the weekly R1 at the 0.7960 level.
There have been minor developments in the situation on the EUR/JPY hourly chart. By the middle of Monday's trading session the currency exchange rate had extended the surge, which began last week.
The yellow metal continues to gain momentum against the US Dollar for the fourth consecutive session.
Driven by its broad-based weakness against a basket of currencies, including the Yen, the US Dollar continues to approach a four-month descending channel with its lower boundary located near the 110.00 mark.
GBP/USD is likewise taking advantage of the weaker US Dollar, thus managing to surge 1.49% in a matter of one session.
The Euro continues to take advantage of the weakened US Dollar, driven by hopes on the new German coalition.
The Kiwi was driven by strong upside momentum on Thursday as a result of which it tested the 0.7270 mark late in the evening.
The US Dollar maintained a stable position against the Loonie on Thursday, thus trading between 1.2580 and 1.2530 for the whole session.
The Australian Dollar remained stable during the first part of Thursday.
The common European currency started Thursday's trading session with slight losses.
Contrary to prognoses, the upper trend-line of a four-month long descending channel could not constrain the yellow metal from breaking above the 1,230.00 level.
Due to overall weakening of the Dollar triggered by the negative US PPI release and the ECB Meeting Minutes, the currency rate acted in accordance with second scenario.
In first half of yesterday's trading session the currency rate reached support level formed by the bottom trend-line of a junior descending channel and monthly PP at 1.3458.