The high volatility caused by the US Fed Chairman's testimony resulted in the GBP/USD dropping from the resistance zone at 1.3365 to the 1.3200 mark. However, by the middle of Wednesday's European trading hours, the rate had returned to previous levels, as it had once again used the support zone at 1.3300/1.3380 and was heading to the 1.3367/1.3370 resistance zone. A
The testimony of the US Federal Reserve Chairman Jerome Powell caused major volatility. Namely, the EUR/USD bounced off 1.1380 to the 1.1240 mark during the testimony. Such an unexpected fundamental event ignored all technical levels. However, by the start of Wednesday's US trading hours, the EUR/USD had returned to normal trading, as it was finding support in the 50-hour
Despite almost touching the 1.2840 high level, the USD/CAD retreated and returned to the support of the 1.2720/1.2732 zone. On Wednesday, the rate was finding support in the zone, as a recovery was possible. A potential recovery of the USD/CAD would most likely encounter resistance in the 50-hour simple moving average near 1.2765 and the 1.2800 level. Above these levels,
The GBP/JPY has bounced off the combination of the 150.00 mark, the weekly S1 simple pivot point at 149.93 and the lower trend line of the large scale channel down pattern, which has guided the rate since the middle of October. The event was followed up by a surge, which on Wednesday almost touched the 151.50 mark. In the case that
Despite the sharp drop on Tuesday, the AUD/USD currency exchange rate recovered. By the middle of Wednesday's European trading hours, the currency exchange rate had reached the resistance zone at 0.7170/0.7173. In the meantime, it was spotted that the rate was finding support in the 0.7140 level, which was supported by the 50-hour simple moving average. A surge above the resistance
During the second part of Tuesday's trading, the EUR/JPY currency exchange rate ignored technical levels and previously notable round exchange rates. It ended doing so on Wednesday, when the pair respected the support of the 50-hour simple moving average and the resistance of the 200-hour simple moving average. If the rate passes the support of the 50-hour SMA, the pair
The support zone at 1,778.60/1,782.70 held and caused a surge. By the middle of Tuesday's trading, the price for the commodity had broken the resistance of the 50 and 100-hour simple moving averages and the 1,800.00 mark. The target for the bullion appeared to be the resistance zone at 1,812.70/1,815.70 and the 200-hour simple moving average near 1,815.00. If the price
The approaching of the resistance of the 50-hour simple moving average from above caused a decline of the rate, which eventually passed the support of the 113.00 mark. At the start of the day's US trading hours, the rate was heading to the support of the weekly S1 simple pivot point at 112.50. Note that the 112.50 mark could act
The GBP/USD remains in the range between the resistance zone at 1.3364/1.3370 and the support zone at 1.3300/1.3380. Meanwhile, the 50 and 100-hour simple moving averages manage to have a short lived impact on the pair. At mid-day on Tuesday, the rate was testing the resistance zone. Future forecasts were based upon whether or not the zone holds. In general,
On Monday, the EUR/USD found support in the combination of the 1.1260 and the 50-hour simple moving average. The following surge passed the weekly simple pivot point at 1.1282 and the resistance zone at 1.1320/1.1333. By the start of Tuesday's US trading hours, the pair had almost reached the weekly R1 simple pivot point at 1.1378. If the pair reaches
First of all, take into account that the USD/CAD rate has revealed a support zone at 1.2720/1.2732. The support zone has been both keeping the rate from declining and providing support to surges. The pair has made two attempts to surge higher, which have been stopped by the resistance of the 1.2800 level. If the USD/CAD manages to break the
The GBP/JPY pair broke the descending triangle pattern by passing its upper trend line. However, the event did not result in a surge, as the pair traded sideways in an almost 50 base point range between 151.00 and 151.50. The sideways trading ended on Tuesday morning, as the 50-hour simple moving average approached the rate from above and caused a
As the AUD/USD currency pair continued to trade in the range between the support of 0.7110 mark and the 0.7148/0.7156 zone, it broke the channel down pattern's upper trend line. However, the event did not result in a surge, as the 0.7148/0.7156 zone provided enough resistance to the pair for a decline to start. By the start of Tuesday's European
As forecast, the EUR/JPY currency exchange rate reached the support of the 127.50 mark and the weekly S1 simple pivot point at 127.53. The 127.50 provided enough support for the pair to recover and break the channel down pattern. The recovery eventually ended at the weekly simple pivot point at 128.56, which caused a decline. On Tuesday morning, the currency
This week, the price for gold started trading with a bounce off from the resistance of the 1,800.00 mark. By the middle of Monday's trading, the commodity was approaching the support zone of 1,778.60/1,782.70. Future forecasts were based upon whether or not the support zone holds, as it had did three times during the previous week. If the price recovers from
Most recently, on Monday, the USD/JPY currency exchange rate found support in the 113.00 level and reached the resistance of the 114.00 mark. The rate has been trading in the range between the two round exchange levels since the middle of Thursday, when the pair found support in 113.00. In the case that the rate breaks the resistance of the 114.00
The weekly simple pivot point and the high level zone at 1.3364/1.3370 has provided the GBP/USD pair with enough resistance for the rate to decline. Namely, during the first half of Monday's trading hours, the currency rate passed below the 100-hour SMA at 1.3340 and the 50-hour simple moving average at 1.3326. In the case that the rate continues to
On Monday, the EUR/USD currency exchange rate fluctuated sideways in the 1.1260/1.1300 range. Note that the pair was ignoring the support and resistance of the 200-hour simple moving average and the weekly simple pivot point at 1.1283. If the currency pair surges, it could test the resistance of the 1.1320/1.1333 zone, which provided the EUR/USD with resistance on November
The USD/CAD started the week by a low opening near the 1.2750 level. Previously, the rate tested the resistance of the 1.2800 mark. In general, the rate traded sideways, as it was looking for direction. In the near term future, the rate could be pushed up by the support of the 50-hour simple moving average, which on Monday morning was
Since Thursday, the GBP/JPY currency exchange rate has been trading in the borders of a descending triangle pattern. Namely, the pair has been trading between a support zone at 150.70/150.80 and the resistance line that connects the Thursday and Friday high levels. If the pair breaks out of the triangle to the upside, it could aim at the resistance of the
The AUD/USD currency exchange rate was testing the resistance of the 0.7150 mark on Monday morning. Meanwhile, the pair was being approached by the resistance of the 50-hour simple moving average. If the pair declines, it could look for support in the Thursday and Friday low level zone above the 0.7110 mark. Below this zone, the rate might encounter support in
The EUR/JPY currency exchange rate has declined below the support of the 128.00 mark. In addition, on Monday morning, the pair confirmed the 128.00 level as resistance. Meanwhile, the 127.50 level provided support. Moreover, note that the rate has been declining in a channel down pattern since November 25. If the rate continues to decline, it would look for support
The yellow metal bounced off the resistance of the 1,875.00 level, on Tuesday. The following decline ended at midnight to Wednesday, as the price found support in the 1,850.00 mark. Note that the price recently has been bouncing between round price levels. By the middle of Wednesday's trading hours, a recovery from the 1,850.00 level was taking place. In the near
The USD/JPY currency exchange rate almost touched the 115.00 mark before a retracement back down started. By the middle of Wednesday's GMT trading hours, the pair had returned to the 114.65/114.70 zone, which is the October high zone. If the 114.65/114.70 zone provides the USD/JPY pair with enough support, the rate could make another attempt at passing the resistance of the