USD/CAD passes support line

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On Wednesday, at 18:00 GMT, the US Federal Reserve revealed the central bank's future monetary policy. The event caused volatility, which passed the support of the recent low level connecting trend line. However, the pair found support in the 200-hour simple moving average near 1.2380. The SMA provided enough support for a recovery to start.

On Thursday morning, the currency exchange rate had recovered above the 1.2400 mark. Moreover, the 50-hour simple moving average's resistance was passed. Due to that reason it can be assumed that the pair would test the previous high levels.

Namely, the pair could first find resistance in the 1.2429/1.2434 zone. Afterwards, the weekly R1 simple pivot point at 1.2442 might provide resistance. Above these levels, note the Wednesday's high level at 1.2457.
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Thu, 04 Nov 2021 12:01:48 GMT

EUR/USD drops on Thursday

On Wednesday, the EUR/USD passed the resistance of the hourly simple moving averages. However, the rate encountered resistance in the 1.1616/1.1625 zone, which had previously impacted the rate throughout October. At midnight to Thursday, the pair started to plummets. By the middle of the day's European trading hours, the EUR/USD had declined by more than 70 base points. In the

Thu, 04 Nov 2021 09:58:21 GMT

GBP/JPY finds resistance in SMA

The GBP/JPY currency exchange rate's recovery found resistance in the 200-hour simple moving average near 156.20. On Thursday morning, the rate declined and reached the support of the 50-hour simple moving average near 155.40. A passing of the support of the 50-hour SMA could result in the rate looking for support in the weekly S1 simple pivot point at 155.19.

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