The USD/CAD was approaching the 1.3550 level, as a fundamental event caused a sharp drop of the USD. Namely, the Bank of Japan intervened and bought up such amounts of the Yen at 08:00 GMT that the US Dollar index declined and a spill over occurred into other pairs. It resulted in a the pair declining to 1.3415. However, by
In general, set technical analysis aside for now and watch the news flow and comments from the Bank of Japan and Bank of England. It has been reported that for the first time since 1998, the Bank of Japan has intervened in the currency market with direct transactions. The central bank operation has been confirmed by the bank's representative Masato
First of all note the high volatility of late Wednesday's trading. The moves were caused by the US Federal Reserve rate hike and press conference. The initial hike caused a spike down, during the press conference the pair recovered, after all events were over the decline continued. The AUD/USD extended the decline on Thursday morning until the Bank of Japan
In general, set technical analysis aside for now and watch the news flow and comments from the Bank of Japan. It has been reported that for the first time since 1998, the Bank of Japan has intervened in the currency market with direct transactions. The central bank operation has been confirmed by the bank's representative Masato Kanda, who stated "We
In general, the Bank of Japan has intervened in the forex market by pumping up the Yen massively. This has resulted in a drop of the US Dollar index, which in turn caused a surge of the price for gold. Meanwhile, from a broader perspective the price remained in the previous sideways trading range between 1,655.00/1,660.00 and 1,677.60/1,680.25 even
The USD/JPY currency pair was surging in the aftermath of the US rate hike on Thursday morning. However, at the time of the analysis the pair suddenly plummeted from 145.90 down to the low levels below 142.50 in less than 20 minutes. At the time of writing the reason for the apparent fundamental drop could not be identified, as the
Initially the Federal Reserve Rate hike and press conference caused major volatility, but the resistance of the 1.1350 held. Afterwards, a decline occurred, which reached below 1.1250. However, during the early hours of Thursday's European trading, the currency pair began a recovery and approached the 1.1300 level. A resumption of the broader decline is expected to find minor support in the
The EUR/USD was highly volatile during the release of the Federal Reserve rate and follow up press conference. The high volatility ended with the pair declining. At midnight to Thursday, the pair reached the 0.9808 level. During the morning hours, the pair was expected to look for support in the 0.9800 mark and the weekly S2 simple pivot point. A
The price for gold is still trading between support at 1,655.00/1,660.00 and resistance at 1,677.60/1,680.25. The commodity price has been in this range since September 16, as it awaits for the US Federal Reserve Rate hike at 18:00 GMT on September 21 to reveal the future direction of the US Dollar and the price. In the meantime, note that the 2021
Prior to the FOMC Rate Statement and Monetary Policy Statement, the USD/JPY currency pair reacted to a broader USD surge. On the pair's charts it resulted in a move above the 144.00 mark. If the Fed hikes more than the market expects, the USD is set to surge and most likely test the resistance of the 144.68/145.00 zone and the
At 18:00 GMT, the US Fed will hike interest rates. Depending on the size of the hike, the USD will either surge or decline. The GBP/USD is set to adjust accordingly. Prior to the meeting though, the currency exchange rate passed below the support of the 1.1350 level and confirmed it as resistance. In the case of a larger than expected
The currency pair's decline eventually ended at the 100-hour SMA at midnight to Tuesday. By the middle of the day, the pair had recovered and was testing the resistance of the 1.3300 mark. In the case of a continuous surge of the US Dollar against the Canadian Dollar would encounter strong resistance in the 1.3400 level and the weekly R1 simple
The GBP/JPY currency exchange rate has broken the resistance of the trend line, which guided the rate's last week's decline, and the 50-hour simple moving average. The surge was caused by the 163.00 mark and the 162.75/162.95 zone providing enough support. On Tuesday morning, the pair found support in the 50-hour simple moving average, surged and passed above the resistance of
Despite piercing the 0.6723/0.6733 zone, the AUD/USD rate has bounced off 0.6750 and declined. By the middle of Tuesday's trading, the pair was back below 0.6700. In general, the situation was observed to be unchanged. The AUD/USD currency pair was still finding support in the 0.6670 level and resistance was provided by the 0.6723/0.6733 zone. A surge above the resistance zone
The EUR/JPY has reached above 143.70 and encountered resistance in the 144.00 mark. The levels near 143.70 have turned into support. In the case of a surge above 144.00, the pair might encounter resistance in 144.50 level, before it reaches the weekly R1 simple pivot point at 145.06 and the 145.00 mark. On the other hand, a decline of the currency
The price for gold is apparently waiting for the US Federal Reserve Rate hike, which is scheduled for Wednesday's 18:00 GMT. Namely, the metal has been trading between the resistance of the 1,680.00 level and the support of 1,655.00/1,660.00 since Friday. On Tuesday morning, the pair had once again bounced off the resistance of the 1,680.00 level. In the meantime, note
The USD/JPY has bounced off the resistance zone at 143.65/143.80 and declined to the support at 143.00. Meanwhile, the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point have had no impact on the rate. In general, previously described scenarios have remained relevant. In the case of a move above 143.65/143.80 the pair would have to pass
With the start of Tuesday's GMT trading hours, the GBP/USD pierced the resistance zone at 1.1440/1.1450. However, a surge did not follow, as resistance was found in the 100-hour simple moving average. Meanwhile, the rate was observed to be finding support in the 50-hour simple moving average. A surge of the rate above the 100-hour SMA near 1.1460 might find
On Tuesday morning, the EUR/USD currency exchange rate's recovery reached the 1.0050 mark, which acted as resistance. Meanwhile, the pair did not touch the resistance of the weekly simple pivot point. A move of the EUR/USD above the 1.0050 level could result in the pair testing the 1.0100 mark and the zone, which surrounds it. Higher above, take into account
On Monday, the USD/CAD currency exchange rate was approaching the 1.3350 level. However, it appeared that the 1.3340 level had acted as resistance and the pair declined to look for support in the 50-hour simple moving average near 1.3270. In the case of a continuous surge of the US Dollar against the Canadian Dollar would encounter strong resistance in the 1.3400
The GBP/JPY currency exchange rate has broken the resistance of the trend line, which guided the rate's last week's decline, and the 50-hour simple moving average. The surge was caused by the 163.00 mark and the 162.75/162.95 zone providing enough support. An extension of the ongoing surge of the currency pair might encounter resistance in the 164.00 level. Higher above, note
On Friday and Monday, the AUD/USD currency pair was finding support in the 0.6670 level and resistance was provided by the 0.6723/0.6733 zone. A surge above the resistance zone might find resistance in the combination of the 200-hour simple moving average and the weekly simple pivot point at 0.6768. Higher above, note that the 0.6800 and 0.6850 levels could act
The EUR/JPY currency pair recently found support in the 142.30/142.65 zone. By the middle of Monday's trading hours, the pair had recovered and faced resistance in the combination of the weekly simple pivot point at 143.68 and the 200-hour simple moving average near 143.65. In the case of a surge above 143.70, the pair might encounter resistance in the 144.00