After the long continuous surge the US Dollar has retraced downwards against the Japanese Yen.
The Sterling's appreciation is restricted by the 55- and 100-hour SMAs ear 1.3470.
A surge should follow if EUR/USD breaches the 100-hour SMA at 1.1790.
An unexpected event occurred on Monday, as the
New high levels of the USD/JPY currency exchange rate had been reached on Monday, as the
Downside potential is still apparent until 1.34.
EUR/USD is likely to remain steady in this session.
The yellow metal remains in the previous range. Moreover,
The US Dollar has broken another resistance cluster against the Japanese Yen. This was expected. However,
A breakout of the 55-hour SMA should send the Euro towards the 1.1850 area.
The bearish sentiment is likely to dominate the Sterling today.
On Thursday the yellow metal's price remained near the lower trend line of the most dominant channel up pattern.
On Thursday morning the US Dollar had gained new high levels against the Japanese Yen.
The Sterling remains near all three moving averages.
The Euro's appreciation today is dependent on its ability to surpass the 55-hour SMA at 1.1850.
The yellow metal has plummeted down below the 1,300 mark.
The resistance cluster, which was described on Tuesday had been broken by the middle of that day's trading session.
The pair's movement today is dependent on its ability to breach the strong resistance cluster at 1.3545.
EUR/USD flashes mixed signals in this session.
On Tuesday the retreated of the yellow metal continued in the borders of the previously drawn medium term channel.
Tuesday morning saw the US Dollar testing the resistance trend line against the Japanese Yen, which held its ground.
The pair's movement today is dependent on its ability to breach the strong resistance cluster at 1.3555.
A breakout from the narrow range between the 55- and 200-hour SMA is expected to determine the pair's direction in this session.
On Monday the yellow metal's price was being guided by the support of the 55-hour SMA.