The yellow metal lost ground on Monday morning. However, the commodity price remained in
On Friday, a lack of strong market movers put USD/JPY in a small trading range in the 111.20/40 area. The pair was stopped several times by the 20– and 55-hour SMAs
Despite being tied down by bearish technical indicators, GBP/USD managed to push through a descending trend-line and the 200-hour SMA.
As the title states, the common European currency is trading in a set range against the US Dollar on Monday morning.
In line with bullish technical indicators, the pair continued the surge and successfully broke through the upper trend line of a symmetrical triangle.
Two fundamental events have notably shaken the USD/CAD during the last two days.
Contrary to expectations, the AUD/USD did not continue the fall, but found a support near the 0.7540 mark.
For two days in a row the EUR/JPY has been fluctuating around the upper-trend line of a descending channel.
The yellow metal has revealed a short term ascending channel pattern.
Positions Today Yesterday % Change Longs 52% 50% 3.85% Shorts 48% 50% -4.17% Indicator 4H 1D 1W MACD
During the last trading session, the Sterling demonstrated solid appreciation against the US Dollar, crossing the 20– and 100-hour SMAS along the way.
The EUR/USD currency exchange rate did not bounce off the resistance of the 200-hour SMA, as it was forecasted on Thursday. However,
The most prominent action in the previous trading day was the Kiwi's massive hourly surge in the wake of fundamentals late Wednesday.
USD/CAD managed to retain its upward momentum on Wednesday despite being hindered for several trading hours by the 200-hour SMA
This trading session was marked by the Greenback's breakout to the downside through the monthly S1 at 0.7552.
For the last 24 hours, the pair has unsuccessfully tried to leave the formation three times.
On Thursday morning the yellow metal traded above the monthly pivot point, which is located at the 1,253 mark.
The USD/JPY pair's attempts to recover were limited by the descending channel's resistance line.
As was anticipated, the Sterling done its best to erase most of Tuesday's losses yesterday, but was still unable to fully reclaim the 1.27 level, which resulted in a close 30 pips lower.
Although the recent surge of the EUR/USD currency exchange pair was mainly caused by the depreciation of the US Dollar, the push was strong enough to pass the resistance of a channel down pattern.
This trading session was marked by the Kiwi's breakout to the downside.
Following a slight pullback from the weekly PP at 1.3283 mid-Tuesday, USD/CAD re-tested this level once more this morning.
A combined support level formed by the 20– and 100-hour SMAs, the weekly PP and the bottom channel boundary failed to stop the Aussie's downfall against the US Dollar.
EUR/JPY breached the upper channel boundary early Tuesday.