On Tuesday, the EUR/USD plummeted, as soon as the 100-hour simple moving average's technical support was passed. By the middle of the day's London trading hours, the currency exchange rate had reached down to 1.1230 and was expected to continue to decline.Meanwhile, note that 72% of open position volume on the Swiss Foreign Exchange was in short positions. Dukascopy traders profited
The hourly simple moving averages managed to hold last week and caused a surge late on Friday. Although, the surge was stopped by the psychological resistance of the 1,420.00 level. In general, this level was expected to be tested again. Latest Fundamental Event Report The Federal Reserve released the US FOMC Meeting Minutes data, where the US policymakers provide in-depth insights into
USD/JPY was trading above the 107.80 level since the middle of Friday's London trading session. It was expected that the rate will continue its decline as soon as the hourly simple moving averages approach it from above. Latest Fundamental Event Report The Federal Reserve released the US FOMC Meeting Minutes data, where the US policymakers provide in-depth insights into the economic
The squeeze between the 55 and 200-hour SMAs resulted in a break out to the upside. The surge reached the 1.2580 level before the rate retraced back down. On Monday, the GBP/USD had found support near 1.2550 and was expected to surge. Latest Fundamental Event Report The Federal Reserve released the US FOMC Meeting Minutes data, where the US policymakers provide in-depth
On Monday, the EUR/USD was expected to reach the 1.1300 level, as it had no technical or psychological resistance as high as this level. Although, note that the move is expected to occur gradually, as the pair has only the technical support of the 55-hour simple moving average. Latest Fundamental Event Report The European Common Currency traded sideways against the US Dollar, following
On Friday, gold remained near previous day's trading levels, as its decline was stopped by the 55, 100 and 200-hour simple moving averages near the 1,405.00 level. In general, the SMAs were expected to push the metal's price up. Latest Fundamental Event Report The Federal Reserve released the US FOMC Meeting Minutes data, where the US policymakers provide in-depth insights into the economic
A surge up to the 108.60 level occurred on Thursday. It was followed by a decline back down to the 200-hour simple moving average, which was located at 108.28. In general, the rate was about to get squeezed in between the 55 and 200-hour simple moving averages. Latest Fundamental Event Report The Federal Reserve released the US FOMC Meeting Minutes data , where
The GBP/USD has broken the previously active descending channel pattern. The event resulted in a test of the 1.2570 level, which managed to hold and cause a decline. By the middle of Friday's trading session, the GBP/USD was about to get squeezed in between the 55 and 200-hour simple moving averages near the 1.2530 level. Latest Fundamental Event Report The Federal Reserve
The psychological resistance of the 1.1280 level managed to hold its ground and force the EUR/USD into a retracement down to the 1.1250 level. In general, from the hourly candle chart it appears that round levels have more impact on the currency exchange rate than technical levels like pivot points and simple moving averages. Although, note that on Friday morning a strong
Gold broke out to the upside out of the previously drawn triangle pattern. The surge was caused by a drop of the US Dollar. Namely, the announcement made to the US Congress by the head of the Federal Reserve revealed that rate cuts are upcoming. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data, which came
The sideways trading of the USD/JPY ended at midday on Wednesday. It ended with a crash down to the 108.50 level. Afterwards, the bearish pressure remained, as the rate resumed to decline a couple of hours later. On Thursday the rate had found support in a previously broken trend line and pivot points near 107.85. The following surge had reached resistance
During Thursday's morning London trading hours, the surge of the GBP/USD was about to touch a resistance cluster at the 1.2545 level. At that level a monthly pivot point, upper trend line of a descending channel pattern and the 200-hour simple moving average will meet at midday. Latest Fundamental Event Report The British Pound traded sideways against the US Dollar, following
The surge of the EUR/USD managed to break a resistance cluster near 1.1270 on Thursday morning. Due to the breaking of the resistance level the currency exchange had no technical resistance as high as the monthly pivot point at 1.1316. Although, note that the 1.1280 psychological round number was providing enough resistance to stop the surge during the morning hours
On Wednesday, the yellow metal was testing the resistance of the 55-hour simple moving average, which was located at midday at 1,396.35. In general, the commodity price was expected to get squeezed in between the SMA and a technical support level above the 1,385.00 level. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data, which came
On Wednesday, the USD/JPY traded in limbo around the weekly R1 at 108.91. In general, the rate was still waiting for the technical support of the 55-hour simple moving average to push it higher to the pivot point at 109.32. Latest Fundamental Event Report US Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data, which came out better-than-expected of
The GBP/USD reached the target support levels at 1.2440. The support levels were tested two times by the middle of Wednesday's trading session. The tests were followed by a failure, which resulted in a surge that reached technical resistance at 1.2490. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data, which came out better-than-expected of
The EUR/USD did not continue its decline on Tuesday, as the rate found enough support in the lower trend line of a descending channel pattern to surge. By the middle of Wednesday's trading session, the currency exchange rate had already pierced the resistance of the 55-hour simple moving average at 1.1213 and a monthly pivot point at 1.1220. Due to that reason
The yellow metal declined, as forecast. Namely, the monthly pivot point just above the 1,385.00 level was reached on Tuesday. The decline was started, as previously forecast, by the resistance of the hourly simple moving averages. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data, which came out better-than-expected of 244K compared with the forecast of
The USD/JPY surged, as expected after the breaking of the resistance line on the hourly chart. Namely, the rate reached 108.90 at midnight. At that level the rate met with the resistance of the weekly R2. If this technical level gets broken, the rate would surge up to the 109.32 level, where the weekly R2 is located at. Latest Fundamental Event Report US
The decline of the GBP/USD reached the previously set targets, as it reached the 1.2488 level on Tuesday morning. Moreover, the pair passed the support levels near 1.2480 and was set to reach the 1.2440 level, where it would be met by two technical support levels. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data,
The EUR/USD has continued to decline. On Tuesday morning, the pair passed the support of the 1.1200 level. In general, if the pair passes the support of a descending channel on the hourly candle chart, the rate would drop down to the weekly S1 pivot point at 1.1166. Latest Fundamental Event Report The European Common Currency depreciated against the US Dollar, following the
On Monday, gold was testing the resistance of the hourly simple moving averages just below the 1,410.00 level. In general, it was expected that the commodity price will decline, as it has not technical support as low as 1,385.00. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data , which came out better-than-expected of 244K compared
On Monday, the USD/JPY dipped down and resumed its surge by the middle of the day's trading. During the move patterns were being broken. In general, due to the breaking of resisting trend lines the rate was expected to surge. Latest Fundamental Event Report US Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data , which came out better-than-expected of
On Monday, the GBP/USD was declining in accordance with the morning's daily short term Technical Analysis publication. In general, the rate was expected to gradually reach the 1.2490 level. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data , which came out better-than-expected of 244K compared with the forecast of 162K. According to the official release: