The Euro overperformed on Thursday, having easily pierced not only the immediate resistance cluster, but even the second one, thus, climbing over the ten-month down-trend.
A channel down has been guiding the bearish motion of EUR/SGD for more than eight years now, and it appears that the trend could finally break. While several signals suggest different scenarios, most of them confirm the pair's move closer to the upper trend-line of the channel, threatening to close above the 1.5300/5400 area in the next few years. The
The yellow metal slightly surged on Friday morning, as it was in a yet another rebound from the weekly PP, which is located at 1,263.46.
Relatively strong US data yesterday helped the Greenback to strengthen against the Yen, therefore, to preserve the bullish trend.
The British currency weakened against the US Dollar on Thursday, but remained in its intraweek trading range, namely between the weekly S1 from the downside and the monthly S3 from the upside.
The common European currency continued training below the post Brexit low level of 1.0912 against the US Dollar during Friday morning.
By Thursday noon the Kiwi remained against the Greenback in the same sport, where it was three sessions ago.
By mid-Thursday the USD/CAD currency exchange rate had touched the 1.3395 level and retreated from it.
The Aussie failed to maintain trade above the 0.77 mark yesterday, with the immediate resistance area triggering a sell off, which resulted in the pair remaining relatively unchanged over the day.
Once again the Euro managed to outperform the Japanese Yen yesterday, but with the 114.00 major level remaining intact.
The yellow metal once more rebounded and scored minor gains on Thursday morning.
The Greenback managed to edge higher against the Japanese Yen for the third consecutive day yesterday, therefore, exiting its nearly three-week consolidation trend.
Still being backed by BoE Carney's comments, the British currency successfully outperformed the US Dollar on Wednesday.
The common European currency fell after it began Thursday's trading just below the Brexit low level of 1.0912 against the US Dollar.
EUR/SEK charted some distinct patterns over the last four years, beginning with an almost three year long channel up, followed by a one and a half year rectangle and currently hovering inside of a junior channel up, which led the pair to exit the rectangle to the upside after the 9.6061.Weekly ChartWe identify 9.4227 timed at the week ending April
The New Zealand Dollar struggled with a resistance cluster located from 0.7169 to 0.7195 against the US Dollar.
The US Dollar surged by mid-Wednesday against the Canadian Dollar, as the currency exchange rate began the day's trading session above a cluster of levels of significance.
Tuesday ended with the Australian Dollar successfully inching higher against the Greenback, thus, breaching the tough resistance cluster around 0.7630.
Although the Euro's bullish development was limited yesterday, it was still sufficient to climb over the weekly pivot point.
The yellow metal surged on Wednesday morning, as it was ignoring the strength of the US Dollar and broke through two resistance levels and was about to break the last remaining resistance of the cluster.
Upon reaching the 1.21 level yesterday, the Sterling recovered from most of its intraday losses, resulting in an overall decline of 45-pip.
Although the bullion remained almost unchanged on Wednesday morning, the yellow metal broke out of the deadlock and became once more volatile by the end of Tuesday's trading.
The New Zealand Dollar had slightly surged against the US Dollar by midday on Tuesday.
After playing above the trend line and teasing traders with a possible continuation of the surge the USD/CAD currency exchange rate had retreated back to the long term ascending channel on Tuesday.