The USD/JPY was jumping on Monday. The rate had finally managed to pass the resistance of the 110.00 level. By the middle of the day's trading it could be observed that the rate was heading for the 110.50 level, where starting from Monday the weekly R2 of the simple pivot points was located at. Latest Fundamental Event The Bureau of Labor Statistics released
The GBP/USD started the week by trading near the resistance of a monthly pivot at 1.2925. Meanwhile, the currency exchange rate had no technical support as low as the 1.2865 level. Although, by the middle of the day's trading session it was spotted that the 1.2900 level was providing a psychological support to the currency exchange rate. Latest Fundamental Event The Federal Reserve
On Monday, the EUR/USD was testing the support of the lower trend line of a dominant ascending pattern. The trend line has to be watched to see, what will be the future of the pair. In general, it can either decline below the support and continued lower or rebound to resume its surge upwards. Latest Fundamental Event The European Single Currency appreciated against
On Friday morning the yellow metal was testing the resistance of various technical levels. If it break them, a surge up to the 1,320.00 levels could occur. Meanwhile, a new ascending pattern has been added to the daily chart. Economic Calendar Analysis The Canadian Employment data release will occur today at 13:30 GMT. Meanwhile, take into account that at 09:30 GMT on Monday the
The USD/JPY has failed to pass the 110.00 mark for a week now. It continues to trade between 109.60 and 110.00. However, a move up is still expected. The reason for the possible surge still upwards is technical. Namely, the support of the 200-hour simple moving average is approaching the currency exchange rate from the downside. Latest Fundamental Event The Bureau of
Unsurprisingly the GBP/USD has made another sudden jump upwards before continuing to decline. This time just after the decline caused by the Bank of England the rate began to surge. Our analysts looked into the news feeds at the time and it was found out that there were news that were considered positive in regards to the Brexit deals. Namely, Theresa May
The pair reached the support of the 1.1330 level, where a pivot point is located, as forecast. Although, the price action after the event might have triggered stop losses of short positions, as the rate retraced back up more than thirty pips. Latest Fundamental Event The European Single Currency appreciated against the US Dollar, following the US FOMC Meeting Minutes release
Gold prices have increased volatility on Thursday by suddenly dropping and then getting back up. However, that is not the most important thing to note on the charts. The metal has revealed a descending pattern channel. The fluctuations occurred exactly in its borders. This signals that a decline is set to occur in the medium term. Economic Calendar Analysis The only notable event
After finding additional support the USD/JPY making more attempts to pass the 110.00 level. In general, we expect that the 110.00 mark will be broken. Above the 110.00 level there are no resistance levels as high as the 110.50 level. Latest Fundamental Event The Bureau of Labor Statistics released Non-Farm Employment Change data better-than-expected of 304K compared to forecast 165K. Note, that the
As the 55-hour SMA approached the rate from the upside, the support levels near 1.2920 were passed. The rate is continuing to move downwards. The next target for the decline is the 62.30% Fibonacci retracement level at the 1.2865 level. Meanwhile, note that the rate might wait up for the 55-hour simple moving average to catch up and continue to push the
The decline of EUR/USD continues. As the short positions of Swiss Traders have been intact, the traders have continued to profit. During the early hours of Thursday's trading the pair was aiming at the 1.1330 level, where the weekly S2 was located at. Latest Fundamental Event The European Single Currency appreciated against the US Dollar, following the US FOMC Meeting Minutes release the
On Wednesday gold prices remained in the previous range. It traded between 1,310.00 and 1,315.00 levels. In general, the previous forecast remains in force. Although, note that the 200-hour simple moving average has approached the commodity from below. Economic Calendar Analysis The price of gold is unlikely going to be influenced by macroeconomic data releases this week. However, traders might take advantage of
The USD/JPY has dropped below the 55-hour SMA after numerous failed attempts to pass the 110.00 level. The retreat of the pair was stopped by the middle of Wednesday's trading by the 50.00% Fibonacci retracement level at 109.60. The pair has two possible scenarios for the future that revolve around the 55, 100 and 200-hour simple moving averages. Latest Fundamental Event The Bureau of
The GBP/USD has reached even lower than previously expected. Instead of touching the 1.2945 mark, the currency rate has reached as low as the monthly pivot point at 1.2925. The decline occurred in a sharp drop during a period of a couple of hours. Meanwhile, by the middle of Wednesday's trading the pair was signalling that it might recover back up to
Another target has been reached by the decline of the EUR/USD. Dukascopy traders have been shorting the decline and profiting. Although the piercing of the support levels near the 1.1400 mark is signalling a further decline, the likelihood that it will continues is decreasing. Namely, the probability of a longer than usual decline is decreasing as the moving downwards continues. Latest Fundamental
The yellow metal's price was fluctuating in a five dollar range on Tuesday. It attempted to recover, but was quickly forced downwards by the 55 and 100-hour simple moving averages. The simple moving averages are the main guide from a technical perspective at the moment. Economic Calendar Analysis The price of gold is unlikely going to be influenced by macroeconomic data releases this
The 110.00 mark was reached by USD/JPY as expected. Although, after piercing the resistance at 110.00 it failed to gain more. The rate reached slightly above the 110.15 mark and retraced back down below the 110.00 level. In general, it can be observed that the pair is trading sideways and consolidating its gains after the 250 pip surge since Friday. Latest Fundamental
The GBP/USD has reached the target set yesterday. However, there is an issue. As the GBP has already done in the recent history, the rate suddenly increased volatility to the opposite side by jumping in this case before reaching the target. Meanwhile, on Tuesday it was observable that the rate has no technical support as low as the 1.2945 level. That level
The EUR/USD has declined, as the most likely scenario suggested yesterday. Namely, the support levels at 1.1420 has been reached. Next target for a decline is the weekly S1 at the 1.1395 level. Although, note that the 1.1400 level might provide psychological support. Market participants tend to do deals near round levels of currency exchange rates. Latest Fundamental Event The European Single Currency
On Monday, the yellow metal was retreating down to face support levels near the 1308.00 level. Meanwhile, note that the recent decline is occurring as a consolidation of previous gains. Economic Calendar Analysis There are various minor data releases scheduled for this week, which are unlikely going to influence the financial markets. However, there is one event that is set to take
On Monday, the USD/JPY currency exchange rate was aiming to reach the 110.00 level. Meanwhile, take into account that, if the pair passes the 110.00 level it will face a technical resistance level near the 110.20 mark. Latest Fundamental Event The Bureau of Labor Statistics released US PPI data lower-than-expected of negative 0.2% compared with forecasted 0.01%. Note, that the US Core PPI
On Monday, the GBP/USD was declining. It faced no technical support as low as the 1.3020 mark. Moreover, the pair was set to be pushed lower the three simple moving averages that are used in technical analysis by Dukascopy Analytics. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Average Earnings Index and Unemployment Rate release on
On Monday, the common European currency traded between two levels of technical analysis between 1.1435 and 1.1455. As the rate broke a previously described ascending channel pattern, a decline further is highly likely. Namely, if the level at 1.1435 is passed, the rate could drop as low as 1.1420. Latest Fundamental Event The European Single Currency appreciated against the US Dollar, following the
After touching the low levels below the 1,280.00 mark gold has retraced back up to the resistance of a descending channel pattern. Main attention is set on this lone trend line at the 1,285.00 level and the approaching resistance of the 200-hour simple moving average, which during the middle of the day was located at the 1,286.00 level. Latest Notable Fundamental Event The