During the prior weeks, the GBP/USD traded in channel down and channel up patterns that represented the rate's larger scale sideways trading between the 1.3800 and 1.4000 mark. Most recently, the rate was in a channel down pattern that had guided the rate to a support zone near 1.3820. The zone provided enough support for the pair to break the
Despite piercing the resistance of the 1.1940 the EUR/USD failed to reach the 1.1950 mark and started a decline. This attempt provided the opportunity to adjust the width of the resistance zone that surrounds the 1.1940 level. By the middle of Tuesday's European trading hours, the currency exchange rate had reached the support of the 1.1875/1.1885 zone. Near term
The New Zealand Dollar surged by 41 pips or 0.57% against the US Dollar on Monday. The surge was stopped by the 200– hour SMA at 0.7180 during yesterday's trading session.
The USD/CAD exchange rate rebounded from the lower boundary of an ascending channel pattern at 1.2470 on Monday. As a result, the US Dollar has edged higher by 83 pips or 0.66% against the Canadian Dollar since yesterday's trading session.
The Australian Dollar surged by 51 pips or 0.66% against the US Dollar on Monday. The surge was stopped by the 200– hour simple moving average during yesterday's trading session.
Upside risks dominated the common European currency against the Japanese Yen on Monday. The exchange rate edged higher by 85 pips or 0.66% during yesterday's trading session.
The yellow metal's surge, which was started by the support of the 200-hour SMA on Thursday, eventually found resistance. Namely, the 1,745.50/1,747.40 zone provided resistance. By the middle of Monday's trading, the commodity price had retraced down to the support 200-hour simple moving average. If the SMA manages to once again cause a surge, the price could again test the resistance
The support zone of the 108.75/108.80 level failed, as the USD/JPY clearly passed it on Friday and afterwards began to ignore it. In the meantime, it was spotted on Monday that the 108.60 level provided the rate with support even as early as Thursday. In addition, a descending trend line was added to the chart. The trend line has kept the
The support of the 1.3900 level eventually failed to keep the GBP/USD up on Friday. After the support failed, the rate began a decline, which found support in the 1.3820 level. A new support zone of this level and the March 16 low level has been drawn. In addition, a channel down pattern has been spotted. The pattern captures the
During Monday's early trading hours, the EUR/USD found support in the 1.1875/1.1885 zone and began a recovery. By the middle of the day's GMT trading hours, the pair had reached above a technical resistance cluster at 1.1910/1.1930. Next up, the rate faced a resistance zone that was located at 1.1935/1.1940. If this resistance cluster holds, the pair could look
The New Zealand Dollar declined by 41 pips or 0.58% against the US Dollar on Friday. The currency pair was pressured lower by the 200– hour simple moving average during Friday's trading session.
The US Dollar surged by 66 pips or 0.53% against the Canadian Dollar on Friday. The currency pair was pressured by the 50– hour simple moving average during Friday's trading session.
The Australian Dollar declined by 43 pips or 0.56% against the US Dollar on Friday. The AUD/USD currency pair breached the 50– and 200– hour SMAs during Friday's trading session.
The common European currency declined by 52 pips or 0.40% against the Japanese Yen on Friday. The currency pair was pressured lower by the 200– hour SMA during Friday's trading session.
The New Zealand Dollar plunged by 103 pips or 1.42% against the US Dollar on Thursday. The currency pair breached the 50– and 200– hour SMAs during yesterday's trading session.
Upside risks dominated the US Dollar against the Canadian Dollar on Thursday. The USD/CAD currency pair edged higher by 141 pips or 1.14% during Thursday's trading session.
The Australian Dollar fell by 105 pips or 1.34% against the US Dollar on Thursday. The decline was stopped by the 200– hour simple moving average during yesterday's trading session.
At mid-day on Thursday, the yellow metal's price found support in the 200-hour simple moving average and the 1,720.00 level. Afterwards, a surge followed. By the start of Friday's European trading hours, the metal had passed the resistance of the 55 and 100-hour SMAs and was testing the 1,740.00 mark. If the 1,740.00 level fails to provide resistance, the bullion should
Throughout this week, the USD/JPY has been trading with high volatility. However, it remained almost sideways, as the rate traded between the resistance zone of 109.25/109.35 and support zone of 108.80/108.75. On Friday morning, the situation had not changed and previous forecasts remained valid. If the pair eventually passes the resistance of the 109.25/109.35 zone, it would first test the resistance
Downside risks dominated the common European currency against the Japanese Yen on Thursday.
The 1.3950 level managed to hold on Thursday. It resulted in a decline to the support of the 1.3900 level. During the morning hours of Friday's European trading hours, the 1.3900 mark continued to provide support. In regards to the near term future, the rate should face the resistance of the 55-hour SMA near 1.3925. Above it, remains the resistance of
Despite piercing the support of the 1.1910/1.1915 zone, the rate did not decline, as it found support in the 1.1900 level. During the morning hours of Friday's European trading, the rate was testing the resistance of the three hourly simple moving averages and the weekly simple pivot point in the 1.1920/1.1930 range. In the case of the 55, 100 and
As the yellow metal's price was looking for support in the 100-hour SMA in the aftermath of breaking out of the ascending triangle pattern, the Federal Reserve made an announcement. Namely, the stimulating US monetary policy would remain intact. It caused high volatility with an initial surge to the 1,750.00 level and afterwards the 1,755.00 level. It was followed
The USD/JPY was once again testing the resistance zone of 109.25/109.35, as the Federal Reserve mate a rate statement and monetary policy statement, which caused high volatility. Namely, since 18:00 GMT on Wednesday, the pair has been sharply moving between the mentioned resistance zone and the support of 108.80/108.75. If the pair eventually passes the resistance of the 109.25/109.35 zone, it