The USD/JPY has confirmed that it is set to surge. Previously, long signals were only present on the daily chart. Namely, the currency exchange rate broke through the resistance of the dominant descending channel pattern on the hourly chart. 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
The fail of Theresa May to secure the votes for her Brexit deal has caused an increase of volatility, which caused a short lived drop of the GBP/USD. However, the rate returned to where it was previously, as the vote results were no surprise for the financial markets. Namely, the volatility was caused because of short term speculators selling on the
The decline of the EUR/USD continues, as traders take advantage of it. Namely, the rate has been testing the support of the weekly S1 at the 1.1390 mark. The currency exchange rate is expected to eventually pass this support level and reach down to the monthly pivot point at the 1.1330 level. Latest Fundamental Event The European Single Currency appreciated against the US
Gold prices on Tuesday remained near the previous trading session levels. However, it was getting squeezed in between technical levels. The event was signalling that a break out might occur in the near future. If one watched the patterns on the daily and hourly chart, it can be observed that it is more likely that the pair will break out to
On Tuesday, a sudden surge began on the hourly charts of the USD/JPY. The pair quickly reached the high level of 108.75. During the move previous descending pattern was broken. Our analyst conducted a review of the hourly chart and spotted two patterns. A dominant channel down pattern and a junior channel up pattern. Latest Fundamental Event The Federal Reserve releases US FOMC
By the middle of Tuesday's London trading session, the Brexit vote at the UK Parliament had not occurred. In the meantime, one can look at the technical outlook prior to the vote. In addition, Dukascopy Analytics have published another article explaining the Brexit situation. In general, the article lays out the possible outcomes of the vote. Read More: Dukascopy Analytics Articles Latest Fundamental
The EUR/USD dropped on Tuesday down to the 1.1430 mark. At that level it stopped, and the stop forced a review of the currency exchange rate's hourly chart. It was discovered that there exists another version of an ascending channel pattern. The pattern's lower trend line was located at the 1.1430 level and provided the needed support for the rate to
The volatility of the yellow metal increased in the second part of Monday's trading. The metal's price dropped back down to the support of the 100 and 200-hour simple moving averages at the 1,289.00 level. The event caused another surge, which was set to surge and once more test the upper trend line of a channel down pattern, which can be
The USD/JPY currency exchange rate has resumed the decline in the borders of a descending channel pattern. However, it was spotted on Monday that the 108.00 level is providing psychological support. Namely, the 108.00 has forced the USD/JPY into surging and making attempts to pass technical resistance levels near the 108.30 mark. Although, it is expected that the decline will resume. Latest
The GBP/USD traders are waiting for the UK's Parliament vote on the Brexit deal that Theresa May has arranged with the EU. The time of the vote has not been established, as there will be a debate prior to the vote. Meanwhile, you can read up more on the event in the article section of Dukascopy Bank SA. Read More: Dukascopy Analytics
The EUR/USD is continuing its decline, which began after encountering the upper trend line of a dominant ascending pattern. On Monday, the currency rate was standing at various support levels just above the 1.1450 mark. Meanwhile, the larger scale indicated that the rate should fall as low as the 1.1410 level. Latest Fundamental Event The European Single Currency appreciated against the US Dollar,
The yellow metal on Friday was trading in accordance with technical tools. Namely, the 200-hour simple moving average had forced it into a surge, which had reached higher. After a too extended surge the metal declined down to consolidate its gains. The retracement downwards stopped at the 23.60% Fibonacci retracement level at the 1,291.57 level. In general, the surge was expected to
The USD/JPY recovery has run into resistance. The rate has retraced back down to the levels near the 108.40 mark. The rate faces the resistance of the 38.20% Fibonacci retracement level at 108.43, and the 100 and 200-hour simple moving averages respectively at 108.48 and 108.54. Latest Fundamental Event The Federal Reserve releases US FOMC Meeting Minutes where fed officials provide in-depth
The GBP/USD has jumped due to another Brexit fundamental. Namely, Brexit financers revealed to Reuters that the UK will most likely reverse the Brexit decision. The country can do that on its own. It was ruled by the European Union's highest court a couple of months ago that the United Kingdom has the right to drop the Brexit and remain in
On Friday, the EUR/USD was continuing its recovery, which began on Thursday. Namely, the rate was surging after rebounding at the 1.1480 level. Meanwhile, note that the rate was being supported by the 55-hour SMA, as it was about to reach the combined resistance of a previously pierced resistance line of a larger pattern and the monthly second resistance of
The yellow metal jumped in a range of twenty USD during the last twenty four hours.
The USD/JPY has fallen due to the announcements made by US central bankers. Namely, the rate has bounced off the 109.00 mark and plummeted below the 108.00 level
As the GBP/USD trades horizontally in the expectations of the Brexit vote, it has pierced the upper trend line of a dominant descending pattern.
The EUR/USD reached our previous set target of 1.15 and even surged above the weekly target set by one of our analysts during Monday's webinar.
The support provided by the 200-hour simple moving average has been passed. The metal is expected to decline.
On Wednesday, constant attempts to pass the 109.00 level continued and failed.
A larger pattern has been spotted on the GBP/USD charts.
After finding support in the 1.1425 level the EUR/USD has once more reached up t the 1.1480 mark on Wednesday.
On Tuesday morning the yellow metal found support in the 200-hour simple moving average at the 1,282.00 level.