Referring to our previous technical overview of GBP/CAD, the pair did not even come close to the 1.7476 mark to confirm a double bottom, but entered a channel down to guide its break out of the previously established triangle. Remaining still with a strong bullish vision, we are looking for a tap at the 1.6597 junior channel bottom trend-line in
The European single currency managed to completely erase Wednesday's losses, but only for a moment, having closed just under the 113.00 level.
The yellow metal is in a similar position to yesterday, as the metal started Friday's trading session almost at the same level as at the beginning of Thursday's session.
After a sharp slump on Wednesday the US Dollar succeeded in partially recovering, but the resistance area around 100.80 limited the gains.
The British Pound managed to outperform the US Dollar yesterday, but failed to maintain trade above the 1.31 mark.
The common European currency was preparing to surge to the 1.1240 level against the US Dollar on Friday morning.
Based on our previous analysis, AUD/NZD confirmed the break out of the channel, with tests of the upper trend-line signalling that the senior downtrend could remind of itself in the future, but currently is likely to be alienated. While an ascending channel neatly bound the movements for a week following the breakout, it turned out to lack steepness to contain
The US Dollar continued to depreciate against the Canadian Dollar by mid-Thursday, as the Loonie was in its fourth consecutive session of gains against the Greenback.
The Aussie managed to post more gains against its US counterpart on Wednesday, with trade closing in front of the three-year down-trend.
The Kiwi opened Thursday's session higher at 0.7368 than the previous close of 0.7357 against the Greenback.
Wednesday ended with the EUR/JPY cross experiencing a rather sharp decline, despite the initial bullish reaction, triggered by the BoJ's announcement.
In reference to our previous overview of EUR/AUD, the pair managed to keep the descending triangle safe and sound, with a retracement towards the broken senior trend-line as predicted. The uptrend stalled attempts to reach 1.5203, the upper boundary of the descending triangle, causing the rate to fail at 1.4903. The rising wedge, which continues to send bearish signals in
Gold opened bearish on Thursday after yet another confirmation of the 1307.85 support level some days ago.
The Fed put only more pressure on the Greenback yesterday, causing it to weaken against the Japanese Yen.
The Fed's decision to keep rates unchanged weakened the American Dollar, allowing the British Pound to take the upper hand and negate Tuesday's losses yesterday.
Following four attempts at the 1.1150 demand zone, EUR/USD proved levels beneath unattainable, continuing Wednesday's bounce towards the bottom trend-line of the broken three-week and three-month channels, 1.1253 and 1.1270 respectively.
On a larger scale the Kiwi is doing good and appreciated against the Greenback in accordance with the previous Dukascopy forecasts.
The US Dollar traded almost at the weekly pivot point at 1.3165 against the Canadian Dollar, as the currency exchange rate encountered the resistance put up by the 200-day SMA at 1.3256 on Tuesday and rebounded.
On Tuesday the Aussie continued to making baby steps towards the three-year down-trend.
As was anticipated, the Euro weakened against the Japanese Yen for another day yesterday, putting the immediate support cluster to the test.
GBP/JPY failed to follow through with a breach of the neckline of the double bottom formation observed within a medium-term time frame, which we covered in our previous analysis of the pair. Nevertheless, the pair did not lose the bullish momentum it had built up over the last developments, which it clearly showed with a golden cross formation. The latest
The yellow metal continued to try and break the resistance put up by the weekly pivot point at 1,316.02 on Wednesday morning.
The American Dollar closed at the lowest level in three weeks yesterday, but was still unable to reach the immediate support.
Even poor US Building Permits yesterday could not provide the GBP/USD with sufficient strength to keep the pair from falling back under 1.30.