The USD/JPY recovery has been stopped by the resistance of the 55-hour simple moving average. The SMA managed to push the rate down to previous low levels. However, On Monday morning, the resistance of the SMA was being tested. Latest Fundamental Event Report The Federal Reserve released the FOMC Statement, where the US policymakers provided in-depth insights into the economic and financial conditions
On Monday morning, the GBP/USD was testing the resistance of a historical high level at 1.2760. In general, the favoured forecast was that the 55-hour simple moving average will push the rate through this level to face the resistance of a monthly pivot point at 1.2792. Latest Fundamental Event Report The British Pound depreciated against the US Dollar, following the UK Monetary
On Monday morning, the EUR/USD was located just above the 1.1380 level and had no resistance up to the 1.1400 level. However, it also had no technical support that could push it up. Meanwhile, note that the central bank caused EUR/USD has been occurring in an ascending channel pattern, which clearly shows the volatility borders of the surge. Latest Fundamental Event Report The
Gold has pierced the 1,410.00 level. The surge of the metal continues, as it has reached a high level not seen in years. There are two fundamental reasons for the event. The US Dollar is losing value due to the expectations of the Fed stimulating the economy by doing a rate cut. On the other hand, gold is surging a lot
The USD/JPY continues to decline, as the rate touched the levels just above the 107.00 level on Friday morning. However, a surge began, as soon as the Japanese government announced that it will intervene. In general, the Japanese are about to manipulate their currency to protect their exports and financial sector. The decline was caused by the US Federal Reserve announcing that
On Friday morning, the GBP/USD made another attempt to pass the resistance line of a large scale descending pattern, and it failed at it. This event was followed by a decline, which by the middle of the day was aiming at a technical support cluster at 1.2645. Latest Fundamental Event Report The British Pound depreciated against the US Dollar, following the UK
On Friday morning, the EUR/USD continued the consolidation, which it started at the end of the Fed's caused surge. In general, the rate is expected to resume its surge after it ends the sideways trading. Latest Fundamental Event Report The European Common Currency appreciated against the US Dollar, following the US FOMC Statement and Federal Funds Rate data release on Wednesday at 18:00
The Federal Reserve caused a sharp drop of the USD on all charts. Due to that reason the yellow metal surged to the 1,395.00 level by midnight. On Thursday, the commodity price had retreated and was consolidating its previous gains just above the 1,380.00 level. Economic Calendar Analysis There will be no more scheduled events that could cause a sharp move of the
Two large fundamental events have taken place that have beat the USD/JPY down to 107.50. The US Federal Reserve signalled that it will do a rate hike, which caused a drop of the USD. The Bank of Japan announced that it is not changing its monetary policy crashing speculations that it will also ease policy and beat down the value of
A decline in the value of the USD that was caused by the Federal Reserve has pushed the GBP/USD up to the resistance of a large scale descending pattern. The resistance of the channel down pattern was located at the 1.2720 level. The future forecasts are based on what happens at this level. Latest Fundamental Event Report The British Pound appreciated against
The Federal Reserve Monetary Policy announcements on Wednesday have caused a surge of the EUR/USD due to the weakness of the USD. By the middle of Thursday's trading session the rate had reached the 1.1300 level, where it encountered a weekly pivot point. A report on the FOMC announcement will be available in the Fundamental Analysis section during Thursday's London trading session. Latest
Gold continues to trade with high volatility. After touching the 1,355.00 level on Tuesday, the metal plummeted back down to 1,340.00 in the next hours. In general, wait for the FOMC announcement at 18:00 GMT to find out, where the metal will go in the near future because of changes in the supply of the US Dollar. Economic Calendar Analysis On Wednesday, at
The USD/JPY has retested a lower trend line of an ascending pattern. However, all attention is expected to go away from technical analysis despite technical levels working. That is due to the upcoming Federal Reserve and Bank of Japan monetary policy announcements set to occur at 18:00 GMT of Wednesday and during the Asian session on Thursday. Central Banks incoming On Wednesday, at
The GBP/USD is surging in accordance with the technical patterns. Namely, it broke the resistance of a junior pattern due to finding support in the lower trend line of a larger pattern. On Wednesday, the currency exchange rate was approaching the resistance of the 100-hour simple moving average, which was located just below 1.2600. Latest Fundamental Event The British Pound depreciated against
In the aftermath of the Draghi caused drop the EUR/USD found support in a monthly pivot point at 1.1180 and retraced back to the 1.1200 level. The 1.1200 level, where a 38.20% Fibonacci retracement level was located at, was providing resistance. In general, the rate was expected to resume its decline as soon as the 55-hour SMA approaches from the above
The yellow metal has returned back to the 1,355.00 level. The surge of the metal began as soon as the last hourly simple moving average was reached and the pressure of being overbought disappeared. The metal could reach the 1,360.00 level during the next trading sessions. Economic Calendar Analysis On Wednesday, at 18:00 GMT the Federal Reserve is making its FOMC Statement, Federal
Due to comments made by the head of the Bank of Japan, the USD/JPY has declined below all technical support levels that were located from 108.44 to 108.51. By the middle of Tuesday's London trading the rate had reached the support of the weekly S1 pivot point at 108.22. Latest Fundamental Event Bureau of Labor Statistics released the US Core CPI data, which
The GBP/USD resumed to decline in the second half of Monday's London trading, as expected. On Tuesday morning, the currency exchange rate had reached a pivot point's support level at 1.2528. The rate's short term future had two possibilities that are described below. Latest Fundamental Event The British Pound depreciated against the US Dollar, following the UK GDP data set release
In a sharp drop the EUR/USD pierced the support of the 1.1200 level on Tuesday. The move was caused by two events. The President of the European Central Bank confirmed in a speech that the money creation schemes done in the Eurozone will continue. Namely, there will be more Euro in circulation. Moreover, the decline was strengthened by bad sentiment data from
After reaching above 1,355.00 on Friday, gold declined down to the technical support levels near 1,333.67. In general, the commodity was overbought and by retreating back down to the hourly simple moving averages the pressure of being overbought was gone. Economic Calendar Analysis On Wednesday, at 18:00 GMT the Federal Reserve is making its FOMC Statement, Federal Funds Rate and Economic Projections. Afterwards,
By the middle of Monday's trading session the USD/JPY had traded between the 108.55 and 108.70 levels. In general, the rate was expected to continue to surge, as it faced no technical resistance levels as high as 108.87. Latest Fundamental Event Bureau of Labor Statistics released the US Core CPI data, which came out worse-than-expected of 0.1% compared with forecast 0.2%. According to the
The EUR/USD currency exchange rate began the week by trading above the support of the 1.1200 level. At that level a 38.20% Fibonacci retracement level was located at. Moreover, the 1.1200 level has been working as a psychological level throughout the recent past. Latest Fundamental Event The European Common Currency depreciated against the US Dollar, following the US Retail Sales data release
On Monday, the GBP/USD traded sideways between the 1.2580 and 1.2600 levels. The pair was consolidating and waiting for the resistance of the hourly simple moving averages before resuming its decline. Latest Fundamental Event The British Pound depreciated against the US Dollar, following the UK GDP data set release on Monday at 08:30 GMT. The GBP/USD exchange currency rate lost 17
The XAU/USD exchange rate has been trading sideways since yesterday. Given, that gold is supported by the 55-, 100- and 200-hour moving averages, it is likely, that some upside potential could prevail in the market. Economic Calendar Analysis On Friday, June 14, the US Retail Sales data will be released at 12:30 GMT. Click Here: US CPI Data Preview XAU/USD short-term forecast On Wednesday,