The USD/JPY has recovered to its prior levels after the sudden drop caused by the Chinese set tariffs on the US. From a fundamental perspective the recovery occurred due to the US President's announcement that he will meet with the Chinese President to discuss trade issues. Latest Fundamental Event During Monday's trading session, the Japanese Yen appreciated 54 pips or 0.50% against the
The GBP/USD fell down to the 1.2920 level by the middle of Tuesday's trading session. In general, the pair faced a cluster of support from 1.2920 to 1.2940. If this cluster fails, a decline down to 1.2870 should occur. Latest Fundamental Event The British Pound depreciated against the US Dollar, following the UK GDP data release on Friday at 08:30 GMT. The
On Tuesday morning the EUR/USD traded near the 1.1240 level. Meanwhile, during the previous day's trading session the EUR/USD had reached a new high level, by reaching above the 1.1260 mark. Latest Fundamental Event The European Common Currency appreciated against the US Dollar, following the US CPI data release on Friday at 12:30 GMT. The EUR/USD exchange currency rate gained 13 pips
Gold jumped during the second half of Monday's London session due to tariffs being put on the US by China. In general, it will decrease the total US exports to China, which in fact decreases the demand for the US Dollar, in which the goods are bought. As the USD falls, all other currencies and commodities gain value against it. Economic
At the middle of the day during London's trading session the USD/JPY plummeted. It dropped down to 109.15 by the time of writing. The rate's drop was paused at that level, as there a monthly pivot point was located at. If that level fails to hold, the rate would aim at the weekly S2 at 108.65. Latest Fundamental Event Bureau of Labor Statistics
The GBP/USD has continued to trade above the 1.3000 level despite the descending channel pattern, which was expected to guide the rate down. On Monday, the pair's short term charts were reviewed. Latest Fundamental Event The British Pound depreciated against the US Dollar, following the UK GDP data release on Friday at 08:30 GMT. The GBP/USD exchange currency rate lost 17 pips or
The EUR/USD has traded in the borders of the previously drawn ascending channel pattern. On Monday, the most notable fact to take into account was the support of the 55-hour simple moving average, which managed to stop the rate from declining. Latest Fundamental Event The European Common Currency appreciated against the US Dollar, following the US CPI data release on Friday at
On Friday, gold's price was making attempts to break the resistance of the monthly pivot point at 1,287.27. In its attempts to surge higher the price was being supported by the 100-hour simple moving average near the 1,283.50 level. Economic Calendar Analysis At 12:30 GMT the Canadian Employment data will cause a move of about forty pips. At the same time the US Consumer
By the middle of Friday's trading session, USD/JPY remained near the previous day's trading range, as it had consolidated by retracing up to the resistance of the 110.00 level. Meanwhile, the rate was still being pushed down by the 55-hour simple moving average. Latest Fundamental Event Bureau of Labor Statistics released the US PPI data, which came out in line with expectations of
On Friday, on the hourly chart of the GBP/USD a descending channel pattern was discovered, which is expected to guide the rate down to the 1.2940 level. Meanwhile, take into account that the 55-hour SMA was strengthening the resistance of the channel down pattern's upper trend line. Latest Fundamental Event On Thursday, May 2, the Bank of England Monetary Policy Committee voted to
On Friday, the EUR/USD traded sideways after jumping up to the 1.12500 level. The surge began as soon as the US President made comments on the trade talks between the US and China. Meanwhile, note that the currency exchange rate has been largely ignoring all of the technical levels like the simple moving averages, Fibonacci retracement levels and pivot points. Latest Fundamental
Gold's surge above the 1,290.00 level failed on Wednesday. The metal dropped back down to the 1,280.00 level as soon as the failure occurred. However, the drop was stopped by the hourly chart's simple moving averages, which had pushed the rate up on Thursday. Economic Calendar Analysis On Thursday, the usual data starts. At 12:30 GMT the Canadian Trade Balance and the US
As expected, the decline of the USD/JPY has continued, as the 55-hour SMA approached the currency exchange rate. On Thursday morning, the decline was stopped by a 50.00 % Fibonacci retracement level at 109.60, which previously was set as the decline's next target. Latest Fundamental Event Bureau of Labor Statistics released the US Non-Farm Employment Change, which came out better-than-expected of 263K compared
The GBP/USD has remained in the range between the 1.3000 and the 1.3020 levels. The pair has consolidated its position after the recent decline. In general, the rate was expected to decline as soon as the hourly candle chart's simple moving averages approach it from above and push it down. In that case the 1.2940 level would be targeted. Latest Fundamental Event On
On Thursday morning, the EUR/USD traded near previous session's levels by bouncing around the 1.1200 level. Meanwhile, note that the rate had passed below all of the technical levels, which in theory signals that the pair should decline. Latest Fundamental Event On Wednesday, May 1, the Federal Open Market Committee decided to left the key benchmark rate unchanged at the 2.50% level. The
Gold has surged, as expected. It got pushed up by the support of the hourly charts simple moving averages. On Wednesday, the surge had already reached above the 1,290.00 level. Economic Calendar Analysis This week all the action on the US Dollar from a fundamental side will be in the second half of the week. Meanwhile, there are large events to watch
USD/JPY dropped, as described before. The support of the 110.00 level was reached on early Wednesday morning. During the day the rate was consolidating by trading sideways between the 110.00 and 110.20 levels. Latest Fundamental Event Bureau of Labor Statistics released the US Non-Farm Employment Change, which came out better-than-expected of 263K compared with forecast 181K. Note, that the US Average Hourly Earnings
After reaching above the previously set target of 1.3160 and touching the 1.3180 level, the GBP/USD dropped. By the middle of Wednesday's trading session, the rate had reached down to the 1.3000 level. The future short term forecasts were based on what happens at that level. Latest Fundamental Event On Thursday, May 2, the Bank of England Monetary Policy Committee voted to hold
The EUR/USD has increased its trading volatility by retracing down on Tuesday. However, by the middle of Wednesday's trading it was once more located near the 1.1200 mark. Meanwhile, it could be spotted that all of the many technical support levels only have minor impact on the currency exchange rate. Latest Fundamental Event On Wednesday, May 1, the Federal Open Market Committee decided
After consolidating its gains by retracing down to the technical support of the 100 and 200-hour simple moving averages the yellow metal's price returned to the previous trading levels. Namely, on Tuesday morning the metal traded between 1,280.00 and 1,284.00. In regards to the near term future, the price was expected to wait for the hourly SMAs to catch up and
On Tuesday morning, the USD/JPY remained near the previous trading session's levels. Meanwhile, the 55-hour SMA was approaching the rate. The additional resistance signals that the consolidation of the rate after the recent gap drop is about to end. Latest Fundamental Event Bureau of Labor Statistics released the US Non-Farm Employment Change, which came out better-than-expected of 263K compared with forecast 181K.
As expected, the GBP/USD reached the support of the weekly pivot point at 1.3089. It bounced off it as soon as the 55-hour simple moving average approached from below and provided additional support. The rate began a surge, which on Tuesday was expected to reach the 1.3160 level. Latest Fundamental Event On Thursday, May 2, the Bank of England Monetary Policy Committee voted
The EUR/USD has gotten out of the previous squeeze by surging. On Tuesday morning, the currency exchange rate had reached the resistance of a monthly pivot point at 1.1217. If this technical level gets broken, the rate would have a free range to surge up to the 1.1268 level. At that level the pair would meet with the weekly R1. Latest Fundamental
Gold has bounced off dominant support and jumped. It touched the 1,286.00 level before beginning a decline, on Monday. The commodity price was consolidating its recent gains. Economic Calendar Analysis This week all the action on the US Dollar from a fundamental side will be in the second half of the week. Meanwhile, there are large events to watch prior to that. On Tuesday,