Upside risks dominated the US Dollar versus the Canadian Dollar on Monday. The currency pair appreciated by about 76 base points during the end of yesterday's trading session.
Downside risks prevailed in the market on Monday, thus allowing the Australian Dollar to depreciated by about 60 base point against the US Dollar during the previous session.
Upside risks dominated the common European currency versus the Japanese Yen on Monday. The currency pair appreciated by about 98 base points during yesterday's session.
The previously discovered descending channel pattern has been fully confirmed. Gold price has declined after encountering the patterns resistance line and declined down to the 1,220.00 level. The commodity price has reached the support of the 50.00% Fibonacci retracement level at 1,220.00. It is expected that the metal will eventually pass the support of the Fibo, as it is expected to
The USD/JPY broke the resistance of the weekly R1 at 113.36 during a second attempt. After the breaking of the resistance the rate surged during the next two hours until it reached the upper trend line of a medium term ascending pattern. The rate's surge was forced into a retracement by the trend line.In general, the exchange rate is expected
As the various simple moving averages approached the currency exchange rate, the GBP/USD plummeted down below the support line of a medium scale ascending pattern. The event resulted in a sharp decline on Tuesday morning.During the decline the pair passed the support of the weekly S1 at the 1.2750 mark. Due to that reason the rate is expected to reach
The common European currency failed to pass the resistance cluster at the 1.1380 level against the US Dollar. As forecast, the event has resulted in a decline. However, on Tuesday morning the currency exchange rate had still not reached its target at 1.13.In general, the rate is expected to reach the 1.13 mark, where a previously pierced through lower
The New Zealand Dollar depreciated about 63 base points of its values against the US Dollar on Friday. The currency pair was pressured south by the 50,-100-, and 200-hour SMAs during the previous session.
The US Dollar edged higher by about 72 base points against the Canadian Dollar on Friday. The currency pair tested the upper boundary of a triangle pattern at 1.3260 during the end of the previous trading session.
The Australian Dollar is trading in a triangle pattern against the US Dollar. The exchange rate bounced off its bottom border at 0.7200 during the end of Friday's trading session.
Downside risks prevailed in the market on Friday, thus sending the common European currency to plunged by about 109 base points against the Japanese Yen.
On Monday, Dukascopy Analysts spotted a channel down pattern on the hourly chart of the yellow metal. This pattern represents the rate's expected decline until new year. The decline should occur due to the metal starting a medium term consolidation after the recent gains of almost 30 USD. Note that the pattern still needs to fully confirm itself. Namely, the commodity
The US Dollar has paused its surge against the Japanese Yen. The pause from a technical perspective was caused by the resistance of the weekly R1, which is located at the 113.36 level. If the level gets passed, the rate is set to gradually surge up to the next technical level, which is the weekly R2 at 113.74. On the other
On Monday morning the GBP/USD pair surged to a technical resistance cluster at 1.2840 level. At that level the combination of the 55 and 200-hour simple moving averages was located close by. In addition, these resistance levels were strengthened by the weekly pivot point level, which was located exactly at 1.2840. If the pair breaks these technical resistance levels, it will
The EUR/USD pair on Monday morning continued the surge, which it began on Friday. By the middle of the day's trading session the currency pair had reached the 1.1380 level. At that level three technical levels of significance were providing resistance. Namely, the 55, 100 and 200-hour simple moving averages were located near the 1.1380 level. In addition, exactly at
The New Zealand Dollar depreciated about 45 base points against the US Dollar on Thursday.
The US Dollar depreciated about 65 base points against the Canadian Dollar on Thursday. The decline was temporarily stopped by weekly PP at 1.3181.
The Australian Dollar traded with low volatility against the US Dollar on Thursday. The currency pair was moving along the 50– and 200-hour SMAs during Thursday's trading session.
The common European currency traded sideways against the Japanese Yen on Thursday. The currency pair trading range during the previous session was between 129.08 and 128.68.