On June 16, the US Federal Reserve published the Federal Open Market Committee's Statement, Economic Projections and Federal Funds Rate. The main news that the markets reacted to was the revelation in the Economic Projections that the central bank could hike interest rates in 2023, as it expects an end to the coronavirus and growth of inflation. The surge caused by
On June 16, the US Federal Reserve published the Federal Open Market Committee's Statement, Economic Projections and Federal Funds Rate. The main news that the markets reacted to was the revelation in the Economic Projections that the central bank could hike interest rates in 2023, as it expects an end to the coronavirus and growth of inflation. As a result of
On June 16, the US Federal Reserve published the Federal Open Market Committee's Statement, Economic Projections and Federal Funds Rate. During the forty minutes following the announcement, the EUR/USD currency exchange rate dropped 100 base points. On Thursday, the decline of the EUR/USD had stopped at the support of the weekly S3 simple pivot point at 1.1937. In the case
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On Wednesday the yellow metal's price remained below the resistance of the 1,870.00 level. In the meantime, the price was approached by the 55-hour simple moving average, which could push the commodity price down. In the case that the 55-hour simple moving average provides enough resistance for the rate to decline, the price would aim at the support of the 1,845.00
On Wednesday morning, the USD/JPY currency exchange rate tested the support of the 55-hour simple moving average, the weekly R1 simple pivot point and the 110.00 mark. Future forecast were based upon whether these levels provide support. In the case of the rate passing the support levels near the 110.00 level, the pair would most likely reach for the support of
The GBP/USD pierced the support of the June low levels and shortly traded near the 1.4040 level. Afterwards, the pair returned to trade near the 1.4080 level. On Wednesday morning, the rate began a surge, which reached above the 1.4100 level. In the near term future, the rate could test the combined resistance of the 100 and 200-hour simple moving averages
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The EUR/USD bounced off the support of the zone above the 1.2100 level and started a recovery, which ended at the 1.2130 level. On Wednesday, the pair was trading sideways between the 55 and 100-hour simple moving averages, which were located at 1.2120 and 1.2136. In the near term future, the rate was expected to get squeezed in between the
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On Monday, the yellow metal fulfilled the scenario of reaching the 1,845.00 mark. The 1,845.00 level provided support and caused an immediate recovery, which reached the 1,870.00 level. The 1,870.00 level continued to provide resistance into Tuesday. Meanwhile, the 1,850.00 level was providing support. Namely, the price fluctuated in a 20.00 USD range. In the case of the price ending the
The USD/JPY currency exchange rate found enough support in the 200-hour simple moving average to surge above the resistance of a channel up pattern's upper trend line, the weekly R1 simple pivot point at 109.97 and the 110.00 mark. On Tuesday morning, the rate retraced down to the 110.00 level and confirmed it as support by bouncing off it. In the
The GBP/USD failed to pass the combined resistance of the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point in the 1.4120/1.4138 zone. On Tuesday, the rate had retreated to the support zone of the June low levels. If the rate passes the support of the June low levels, it would most likely reach the support of
The EUR/USD did not continue to trade in the channel down pattern. Namely, after holding for five hours, the upper trend line of the pattern failed and was passed. By the middle of Tuesday's trading hours, the pair had reached the combined resistance of the 100-hour simple moving average and the resistance of the June 7 and 10 low
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On Monday morning, the decline of the price for gold continued. In total, since Friday morning, the price had lost almost 2.50%. However, at 10:00 GMT on Monday, it appeared that the price had found support in the June low level just above the 1,855.00 mark. In the case that the metal recovers, the price could reach for the resistance of