The price for gold has started to recover, as it has reached above 1,855.00. Meanwhile, prior support and resistance zones have been marked on the chart. In addition, note that the commodity might be trading in a channel up pattern, as it has been respecting an ascending resistance line that connects October high levels. A potential decline of the commodity
Since the bounce off from the 150 mark, the USD/JPY has been trading between two zones. Support is found at 148.15/148.30. Resistance is located at 149.30/149.50. Meanwhile, it appears that the rate is ignoring the simple moving averages and the weekly simple pivot point. A move above the 149.50 mark is expected to face major resistance in the 150.00 mark.
The GBP/USD is facing the resistance zone that is located at 1.2260/1.2285. Meanwhile, on Tuesday support was being provided by the 50-hour simple moving average. A breaking of the 1.2260/1.2285 range is expected to result in a surge of the Pound against the US Dollar. The potential surge would face resistance at the 1.2300 mark and the weekly R1 simple
The EUR/USD is facing the resistance of the 1.0600/1.0620 zone. The zone has previously acted as support and resistance. A bounce off from the 1.0600 level is expected to result in the rate looking for support in the 1.0560 level and the 50-hour simple moving average. Below this level, it is highly likely that the rate could stop at the
The start of the war in Israel has caused a run to safety. Market participants have been observed to be buying both the US Dollar and gold. Due to this reason, the surge of the price for gold has been rather low. The price jumped and has stuck near the 1,850.00 mark. For the price to decline it would have
Despite the US Dollar moving due to the publication of monthly US employment data and the war in Israel, the USD/JPY has not reacted. Namely, in theory the supposed safe haven currency, the Japanese Yen, should have decline due to the US employment, but strengthened at the start of the conflict in the Middle East. Instead, the Yen slightly
The financial markets have ignored technical levels due to fundamental events taking place. On Friday, the US employment data caused high volatility and an eventual decline of the US Dollar. On Monday, the Dollar recovered because of a run to safety that started due to the war in Israel. During the events the GBP/USD pair's channel down pattern initially held.
The EUR/USD has ignored technical levels due to fundamental events taking place. On Friday, the US employment data caused high volatility and an eventual decline of the US Dollar. On Monday, the Dollar recovered because of a run to safety that started due to the war in Israel. By mid-Monday it was observed that the pair had resumed
Gold has reached below 1,920.00 level's support. However, it has not yet approached further support levels. A decline is expected to look for support in the low level zone at 1,805.00/1,808.00. Afterwards, the 1,800.00 mark is most likely going to act as support. On the other hand, a recovery of the commodity price could face resistance in the 50 and 100-hour
The USD/JPY pair has booked a lower low and lower high level. Namely, the low is at 148.25 and the high is at the combination of the weekly simple pivot point and the 50-hour simple moving average at 149.08. By late Thursday's trading, the pair was set to once again reach the 148.25 level. A move below the 148.25
On Thursday, the GBP/USD currency exchange rate passed the resistance of the 200-hour simple moving average that had kept the rate down since mid-Wednesday. After confirming the moving average as support, the rate approached the upper trend line of the channel down pattern that had guided the rate down since August 30. If the pair breaks the pattern, resistance could
The EUR/USD recovery has reached above the 1.0530 level and the 100-hour simple moving average. The 100-hour SMA was keeping the rate down on Wednesday. On Thursday, the rate reached the resistance of the 200-hour SMA near 1.0540. A move above the 200-hour SMA near 1.0540, would highly likely result in the pair testing the resistance of the weekly simple
The price for an ounce of gold remains near levels that were reached during early Tuesday's trading. In general, the price fluctuates between 1,820.00 and 1,830.00. Meanwhile, it appears that the 50-hour simple moving average does not impact the rate. A decline is expected to look for support in the low level zone at 1,805.00/1,808.00. Afterwards, the 1,800.00 mark is
In the aftermath of the Monday's drop, the USD/JPY appears to have stabilized in the 148.75/149.30 range. Namely, the pair trades around 149.00. Meanwhile, the Bank of Japan has not confirmed involvement in the currency market. Moreover, the Finance Ministry has refused to comment on the move. In the case of a resumption of the prior surge, the combination of
The GBP/USD currency exchange rate has reached the 1.2040 level, which served as support. The reaching of the new low level was followed by a steep recovery of the pair. By mid-Wednesday, the rate was approaching the 200-hour simple moving average near 1.2170. A move above 1.2170 could face the combined resistance of the weekly simple pivot point, the 1.2200
The support of the 1.0450 mark was enough to cause a recovery of the Euro against the US Dollar. The rat has reached above the resistance of the weekly S1 at 1.0486, the 50-hour simple moving average and the 1.0500 mark. At mid-day on Wednesday, the pair faced the 100-hour simple moving average at 1.0525. A move above the 100-hour
The price for gold eventually found resistance at 1,880.00, which was strong enough to cause a decline that passed below 1,860.00. On Tuesday, the commodity price had already reached the 1,820.00 mark. An extension of the decline is expected to look for support in the low level zone at 1,805.00/1,808.00. Afterwards, the 1,800.00 mark is most likely going to act
The USD/JPY reached the 150.00 mark at mid-day on Tuesday. The 150.00 level is where the markets expected the Bank of Japan to intervene and beat the rate down. As soon as the rate pierced the 150.00 mark a massive sell off started. It is unclear whether it was caused by market participants or the Japanese Central Bank. The drop
The GBP/USD has continued its decline and reached below the 1.2100 mark. Moreover, on Tuesday the 1.2100 level appeared to have turned into resistance. A continuation of the ongoing decline could look for support in the lower trend line of the channel down pattern and the weekly S2 simple pivot point at 1.2031. In the case of a GBP recovery against
The resistance of the 200-hour simple moving average was enough for the EUR/USD to resume its decline. The decline was slowed down only by the combination of the 50 and 100-hour SMAs and the weekly S1 simple pivot point at 1.0486. On Tuesday, the pair reached the 1.0450 level. The decline of the Euro against the US Dollar is expected
As it was speculated, the price for gold found support in a round price level. That level turned out to be the 1,860.00 level. The support was enough to cause a recovery up to the resistance of the 50-hour simple moving average and the 1,875.00 level. A move above 1,875.00 could result in the commodity price almost immediately encountering resistance
The resistance of the 149.50 level eventually was enough for the USD/JPY to cause a sharp decline. The decline eventually reached the 148.50 level and the 200-hour simple moving average. The support was enough to cause a recovery to the 100-hour SMA and the 149.00 level. A move above the 100-hour SMA and the weekly R2 simple pivot point at
The recovery of the Pound against the US Dollar has reached the resistance of the 200-hour simple moving average near 1.2250. A move above the 200-hour simple moving average would result in the currency pair testing the resistance of the upper trend line of the channel down pattern. If the pattern is broken, the rate should approach the combination
The EUR/USD currency exchange rate has extended its recovery. On Friday, the rate was heading to the upper trend line of the channel down pattern. However, it was slowed down by the 200-hour simple moving average near 1.0620. A move above 1.0620 is expected to face the resistance of the upper trend line of the channel down pattern. In the