The yellow metal on Friday was trading in accordance with technical tools. Namely, the 200-hour simple moving average had forced it into a surge, which had reached higher. After a too extended surge the metal declined down to consolidate its gains. The retracement downwards stopped at the 23.60% Fibonacci retracement level at the 1,291.57 level. In general, the surge was expected to
The USD/JPY recovery has run into resistance. The rate has retraced back down to the levels near the 108.40 mark. The rate faces the resistance of the 38.20% Fibonacci retracement level at 108.43, and the 100 and 200-hour simple moving averages respectively at 108.48 and 108.54. Latest Fundamental Event The Federal Reserve releases US FOMC Meeting Minutes where fed officials provide in-depth
The GBP/USD has jumped due to another Brexit fundamental. Namely, Brexit financers revealed to Reuters that the UK will most likely reverse the Brexit decision. The country can do that on its own. It was ruled by the European Union's highest court a couple of months ago that the United Kingdom has the right to drop the Brexit and remain in
On Friday, the EUR/USD was continuing its recovery, which began on Thursday. Namely, the rate was surging after rebounding at the 1.1480 level. Meanwhile, note that the rate was being supported by the 55-hour SMA, as it was about to reach the combined resistance of a previously pierced resistance line of a larger pattern and the monthly second resistance of
The yellow metal jumped in a range of twenty USD during the last twenty four hours.
The USD/JPY has fallen due to the announcements made by US central bankers. Namely, the rate has bounced off the 109.00 mark and plummeted below the 108.00 level
As the GBP/USD trades horizontally in the expectations of the Brexit vote, it has pierced the upper trend line of a dominant descending pattern.
The EUR/USD reached our previous set target of 1.15 and even surged above the weekly target set by one of our analysts during Monday's webinar.
The support provided by the 200-hour simple moving average has been passed. The metal is expected to decline.
On Wednesday, constant attempts to pass the 109.00 level continued and failed.
A larger pattern has been spotted on the GBP/USD charts.
After finding support in the 1.1425 level the EUR/USD has once more reached up t the 1.1480 mark on Wednesday.
On Tuesday morning the yellow metal found support in the 200-hour simple moving average at the 1,282.00 level.
On Tuesday the pair bounced off the resistance provided by the 109.00 mark.
The 1.2800 mark has been reached, as it was forecast previously.
During the last trading session the EUR/USD has retreated in the borders of an ascending pattern.
The yellow metal on Monday traded above the 1,290.00 level, where it was supported by a Fibonacci retracement level.
The USD/JPY is trading sideways and about to be squeezed in on the hourly candle stick chart.
The GBP/USD pair's surge on Monday was expected to reach the 1.2800 level
On Monday the EUR/USD traded just below the 1.1450 level.
On Wednesday, the yellow metal touched the 1,290.00 level.
The biggest surprise about the USD/JPY is that the descending pattern used as a guide before the holiday season was still actively guiding the pair.
The first daily review of the GBP/USD of the year has already managed to forecast the decline of the rate.
The first full review of the EUR/USD situation of 2019 is set to outline the situation.