The EUR/USD has recently moved upwards to the combined resistance of the 50-hour simple moving average and the weekly S1 simple pivot point at 1.0740. A move above 1.0740 is expected to face resistance in the 1.0760 level and the descending 100-hour simple moving average. In the case of these levels failing, the rate's further surge could be slowed down
In general, gold trades between two zones, as the traders expect an outcome to the possible US debt default. Support is provided by the 1,952.00/1,955.00 range. Resistance is encountered at 1,982.00/1,985.00. Meanwhile, short term resistance and support can be encountered n the combination of the 50 and 100-hour simple moving averages near 1,970.00. If the price eventually passes above 1,985.00, the
The USD/JPY has moved above the 139.00 mark and the weekly R1 simple pivot point at 139.18. The rate's recent surge was caused by the 100-hour simple moving average. An extension of the ongoing surge might be stopped by the 140.00 mark. Higher above, the combination of the 140.50 level and the weekly R2 simple pivot point could stop the surge
The GBP/USD currency pair shortly traded below the 1.2340 level on Thursday morning. However, the event was followed by a recovery up to the 50-hour simple moving average and the 1.2390/1.2395 zone. A bounce off from the combination of the 50-hour SMA, the 1.2390/1.2395 range and the 1.2400 mark would result in the pair declining back to the 1.2340 level,
As the markets switch to the safety of the US Dollar due to a possible US government default, the EUR/USD has continued to decline. By mid-Thursday, the currency pair had passed below the weekly S1 simple pivot point and reached the 1.0720 level. An extension of the ongoing decline might look for support in the 1.0700 mark. Further below, note
The price for gold has once again bounced off the 1,955.00 level. On Wednesday morning, the price traded between the 1,970.00 and 1,980.00 level. Note that the 1,970.00 mark was being strengthened by the 50 and 100-hour simple moving averages. In the case of the commodity price recovering resistance could be provided by the 1,982.00/1,984.00 range and the 200-hour simple moving
The USD/JPY has continued to fail to reach the 139.00 mark. The recent high levels have been marked as a resistance zone at 138.70/138.90. In the case of the resistance zone being broken, the pair could face resistance in the 139.00 mark and the weekly R1 simple pivot point at 139.18. Higher above, note 139.50 and 140.00 levels. Meanwhile, a decline would
On Tuesday, GBP/USD found support in the weekly S1 simple pivot point at 1.2373 and recovered as high as the 1.2450 mark, before the United Kingdom Consumer Price Index data was released. The inflation data caused an increase of volatility with an initial spike to the resistance zone at 1.2470/1.2485 and a follow up decline that almost reached 1.2400. A resumption
The EUR/USD has found support in the support zone at 1.0760. On Wednesday, a recovery was taking place and testing the resistance of the 50 and 100-hour simple moving averages near 1.0795. A move above the simple moving averages and the 1.0800 mark is expected to approach the 1.0820 level. Above 1.0820 resistance is provided by the weekly simple
The price for gold has bounced off a resistance range at 1,982.40/1,984.00. By mid-Tuesday, the commodity price had reached the 1,951.90/1,954.40 range. A move below the 1,951.90/1,954.40 range might result in the metal's decline being almost being stopped by the 1,950.00 mark and the January high at 1,949.00. Further below, the 1,945.00 and 1,935.00 levels could stop a decline, as they
The US Dollar found enough support in the 137.50/137.80 range to resume its surge against the Japanese Yen. During early hours of Tuesday, the pair made an attempt to reach the 139.00 level. A continuation of the USD/JPY surge might be slowed down by the 139.00, 139.50 and 140.00 levels. In addition, note the weekly R1 and R2 simple pivot points
On Tuesday morning, the GBP/USD currency exchange rate passed below the support zone at 1.2390/1.2395. Next target for the decline might be the weekly S1 simple pivot point at 1.2373. Below the weekly S1 simple pivot point, there is no technical support as low as the 1.2300 mark and the weekly S2 simple pivot point at 1.2304. Further below, the
The EUR/USD has bounced off the resistance zone at 1.0825/1.0830 and declined below 1.0800 level. Moreover, the pair has passed the support of the 55-hour simple moving average. An extension of the ongoing decline might result in the pair once again looking for support in the 1.0760 level. Further below, the weekly S1 could act as support at 1.0740,
The price of gold declined to the 1,955.00 level during the prior week. However, on Friday, a recovery started and the price reached back up to 1,980.00 levels. An extension of the recovery of the commodity price might encounter resistance in the 2,000.00/2,010.00 range and the 200-hour simple moving average. Above the resistance zone take into account round levels that have
The sharp surge of the US Dollar against the Japanese Yen ended on Friday at mid-day. On that day the Chairman of the US Federal Reserve Jerome Powell spoke at an event with the ex-Chairman Bernanke. The comments made by the two caused a run to safety. From a technical perspective, the pair broke the channel up pattern and declined
The GBP/USD has revealed a support and a resistance zones. Support is found at 1.2390/1.2395. Resistance is provided by the 1.2470/1.2480 range. On Monday, the pair bounced off the resistance and resumed its decline. The ongoing decline might look for support in the 1.2390/1.2395 level. Further below, note the weekly S1 simple pivot point at 1.2373 and the combination of the
The EUR/USD has reached a new low level by trading near 1.0760 during the end of the last week. However, a recovery of the Euro followed. On Monday the currency pair bounced off a resistance zone at 1.0825/1.0830. The zone was strengthened by the weekly simple pivot point at 1.0822 and the 100-hour simple moving average. Meanwhile, support appeared
The price for gold dropped below the 2,000.00 mark in the aftermath of the US Retail Sales release on Tuesday. The fundamental event strengthened the US Dollar. Moreover, information came into news flows that the US politicians had made progress in US government debt talks. By the middle of Wednesday's trading hours, the commodity had reached below the 1,990.00 level.
The surge of the USD/JPY continues. Mid-Wednesday the currency pair passed above the combined resistance of the weekly R2 and the 137.00 mark. It was expected that the rate could soon reach for the May high level zone at 137.50/137.75. A move above 137.75 could be slowed down by the 138.00 mark or the weekly R2 simple pivot point at 138.35.
The GBP/USD has passed below the 1.2445 level and booked a new May low level at 1.2420. In the case of the Pound continuing to lose value against the US Dollar, the rate could look for support in the 1.2400 mark and the weekly S1 simple pivot point at 1.2365. Below these levels, note the 1.2350 and 1.2300 levels. However, a recovery
The 1.0900 mark held and caused a decline, which on Wednesday morning passed below the support of the 1.0845 level. A continuation of the ongoing decline of the Euro against the US Dollar might look for support in the 1.0800 mark and the weekly S1 simple pivot point at 1.0779. Further below, note the weekly S2 simple pivot point
The price for gold has bounced off the combined resistance of the 2,020.00 level and the 100-hour simple moving average. By mid-Tuesday, the commodity had returned to trade in the 2,000.00/2,010.00 range. In general, previous forecast scenarios remain relevant. A potential decline below 2,000.00 could look for support in round price levels until the price reaches the April low level zone
The USD/JPY currency pair has bounced off the resistance of the weekly R1 simple pivot point. During the follow up decline the pair has passed below the 136.00 level and the 50-hour simple moving average. An extension of the decline might look for support in the 135.35/135.50 range. Further below, note the 135.00 mark and the technical levels which surround
On Tuesday morning, the GBP/USD dipped due to the release of worse than forecast UK employment data. The bad data indicated that the Bank of England would not need to tighten policy, as inflation might come down due to less people buying products. However, by mid-day the rate had recovered and was testing the combined resistance of the 1.2540 level