The price for gold eventually encountered resistance in the combination of the 1,645.00 level, the 100-hour simple moving average and the upper trend line of a channel down pattern. The resistance forced the price into retreating down to the 1,615.00/1,622.00 zone. he support zone appeared to have caused another recovery. A recovery of the metal might be stopped by the 50-hour
The USD/JPY step by step approached the 150.50 level, which was reached and acted as resistance for two hours. Afterwards, the rate surged sharply and easily reached above the 151.00 mark. By the middle of the day's European trading, the rate had reached above 151.30. At the moment of writing, the rate appeared to be unstoppable. An extension of the
As the UK Prime Minister resigned, the Pound initially surged and reached above 1.1300. However, the spike upwards was followed by a decline. By the middle of Friday's trading, the pair had almost reached the 1.1100 mark. An extension of the ongoing decline would have no technical support as low as the weekly S1 simple pivot point at 1.0941 and the
On Friday morning, the EUR/USD bounced off the 0.9800 mark and declined below the support of the 200-hour simple moving average near 0.9765. By the middle of the day, the rate was approaching the support of the weekly simple pivot point at 0.9719 and the 0.9708/0.9715 zone. A decline below the weekly simple pivot point and the 0.9708 level could
The price for gold eventually found support above the 1,615.00/1,622.00 zone. The 1,625.00 level appears to have acted as support. During the first half of Thursday's trading, the price recovered back up to the 1,635.00 level. A continuation of the recovery might encounter resistance in the 1,640.00 level and the zone, which surrounds it. In addition, note the descending 50-hour simple
On Thursday morning, the USD/JPY currency pair shortly reached above the 150.00 mark and the weekly R2 simple pivot point at 149.98. The 150.00 mark is a major benchmark for the pair and most financial news outlets are reporting on the event. A move above the 150.00 mark would have no technical resistance as high as the weekly R3 simple
The decline of the Pound against the US Dollar has continued, as on Thursday morning the pair approached the 1.1150 level and the weekly simple pivot point at 1.1160. A move below 1.1150 would have no technical support as low as the weekly S1 simple pivot point at 1.0941 and the October low levels at 1.0922/1.0932. However, note that the
On Thursday morning, the EUR/USD found support in the 200-hour simple moving average near 0.9755. The support was enough to cause a retracement to the combined resistance of the levels near 0.9800. Namely, the 0.9800 mark, the 100-hour SMA and the 50-hour SMA were located at 0.9795/0.9810. A breaking of the resistance zone at 0.9795/0.9810 could result in a surge
On Wednesday, the price for gold passed below the 1,640.00 level's support. By the middle of the day, the pair had reached the 1,630.00 level. An extension of the decline might look for support in round price levels, prior to reaching the September low levels near 1,615.00. On the other hand, a recovery of the commodity price would face resistance in
Due to an unknown reason on Tuesday, the USD/JPY pair dipped down to 148.15. It could be possible that the Bank of Japan made another attempt to intervene in the forex market. However, an hour later the rate was back above 149.00. On Wednesday, the surge continued, as by mid-day the rate was at 149.75. The pair faces no resistance to
The GBP/USD pair reached below the support of the channel up pattern, which afterwards turned into resistance. Once the pair approached the combined resistance of the 1.1350 level and the trend line, a decline started. At 06:00 GMT the decline increased due to the publication of the UK Consumer Price Index. It was revealed that year-on-year basis inflation in September in
On Wednesday, the EUR/USD declined below the support levels near 0.9800 and reached the 0.9760 level. During the second part of the day the pair fluctuated between the 0.9760 and 0.9800 levels. A move above 0.9800 could encounter resistance in the 50-hour simple moving average near 0.9840. Higher above, note the Monday's and Tuesday's high levels at 0.9865/0.9875. Afterwards, the
Despite attempting to recover at mid-day on Monday, the price for gold has returned to trade near the 1,650.00 level. On Tuesday morning, the pair attempted a recovery and failed due to the resistance of the 100-hour SMA and the 1,660.00 level. A resumption of the price recovery could encounter resistance in the 100-hour simple moving averages near 1,660.00. Higher
The USD/JPY has reached not only above the 148.85 level, but also the 149.00 mark. On Tuesday morning, the pair faced no resistance as high as the 150.00 mark and the weekly R1 simple pivot point at 149.98. However, the ongoing surge could be slowed down by the 149.50 level. On the other hand, a decline of the currency rate is expected
On Thursday, the GBP/USD currency pair reached above the 1.1400 mark and almost reached the 1.1450 level. However, before reaching the 1.1450 level, the GBP started a decline against the USD. During the early hours of Tuesday's trading, the pair as finding support in the 1.1300 level. Meanwhile, it was spotted that the rate has been surging in a channel
The EUR/USD broke the resistance of the 0.9800 level on Monday. By the middle of Tuesday's trading, a follow up surge had reached above the 0.9850 level. An extension of the ongoing surge of the Euro against the US Dollar could encounter resistance in the weekly R2 simple pivot point at 0.9897 and the 0.9900 mark. Higher above, the
The price for gold found support in the 1,640.00 level and the zone above it. On Monday, the price had recovered and reached above 1,650.00 . An extension of the price recovery could encounter resistance in the 50 and 100-hour simple moving averages near 1,660.00. Higher above, the last week's high levels above 1,680.00 might once again stop a surge. A decline
On Friday, the surge of the USD/JPY currency pair almost reached the 149.00 mark. However, resistance was encountered at 148.85. Since the event, the pair has been consolidating in the range between 148.40 and 148.85. A surge above 148.85 could encounter resistance in the 149.00 and 149.50 levels. Higher above, take into account the weekly R1 simple pivot point at 149.98
The Friday's decline of the GBP/USD pair found support in the 1.1150 level. By the start of Monday's European trading, the rate had recovered to the 1.1300 mark. A surge of the Pound against the US Dollar is expected to encounter resistance in the 1.1300 and 1.1350 levels, and the last week's high level zone above it. Higher, note the weekly
On Friday, the EUR/USD was highly volatile in the 0.9700/0.9800 range. On Monday, the pair was trading near the 0.9750 level. A recovery of the Euro against the US Dollar might encounter resistance in the 200-hour simple moving average near 0.9770. Higher above note the 0.9800 level and the weekly R1 simple pivot point at 0.9807. On the other hand,
The US Consumer Price Index release caused major volatility up and down on all US Dollar involved charts. On the gold price charts it resulted in a drop below 1,645.00 and a follow up recovery above 1,670.00. Above the 1,670.00 level, the 100-hour simple moving average acted as resistance and caused a decline. By the middle of Friday's trading, the
The high volatility of the US Consumer Price Index found support in the combination of the 146.50 level and the 50-hour simple moving average. Afterwards, the 147.00 mark turned into support and by the middle of Friday's trading, the pair had reached above 147.70. Namely, the pair traded above the 1998 high level of 147.60. A move higher could encounter
The GBP/USD currency exchange rate eventually surged after the US CPI release. The surge found resistance in the 1.1350/1.1375 zone, before starting a decline on Friday's morning. An extension of the ongoing decline could look for support in the combination of the weekly simple pivot point at 1.1215, the 1.1200 mark, the 50 and 200-hour simple moving averages and the October
The EUR/USD plummeted as higher than expected US inflation was revealed at mid-day on Thursday. However, as an hour passed and the US markets opened, the US Dollar declined against all assets. On the pair's charts it resulted in a surge to the resistance of the 0.9800 level. The round level acted as resistance and by mid-Friday the pair