On Wednesday, at 18:00 GMT, the USD/CAD initially spiked up due to the US Federal Reserve Rate hike. However, at the following press conference the Chairman of the Federal Reserve Jerome Powell stated that the central bank is not considering 0.75% rate hikes, which caused an all out drop of the USD. On the USD/CAD charts it resulted in a
Despite the GBP/JPY rate not involving the US Dollar, the rate appears to have still felt an impact from the US Federal Reserve Rate hike on Wednesday at 18:00 GMT. Namely, the currency pair shortly reached below the support zone at 162.25/162.40, before surging up to the 163.50 level. The initial rate hike caused risk off sentiment. Afterwards, comments made
As the head of the US Federal Reserve Jerome Powell stated that the Fed is not considering 0.75% interest rate hikes, the value of the US Dollar plummeted. On the AUD/USD currency exchange rate charts the event resulted in a jump from 0.7126 up to 0.7266. On Monday morning, the pair started a decline, as it bounced off the 0.7266
On Thursday morning, the EUR/JPY currency pair approached the 137.50 level, which was then observed to be acting as resistance to the currency pair. A move above the 137.50 level could encounter resistance in the 137.95/138.00 zone. The zone acted as resistance on April 28 and 29 and caused the most recent decline to the 136.50 mark. Above the
On Wednesday, the comments made at the Federal Reserve press conference by the Chairman Jerome Powell caused a drop of the US Dollar's value. On gold price charts it resulted in a move above a resistance zone at 1,872.00/1,878.00 up to the 1,890.00 level. If the price for gold continues to recover, it might encounter resistance in the 1,900.00 mark and
On Wednesday, the US Federal Reserve hiked interest rates by 0.50%. Afterwards, the Chairman of the bank Jerome Powell hosted a press conference. Comments made by Powell that the bank is not considering 0.75% rate hikes caused a drop of the US Dollar. On the USD/JPY charts the event resulted in a sharp move below the 129.00 level and a
During the US Federal Reserve rate hike and the following press conference, the GBP/USD was highly volatile in the 1.2450/1.2550 range. As the head of the Federal Reserve stated that the Fed is not considering a 0.75% rate hike, the GBP/USD started to move upwards. The surge was expected to test the resistance of the 1.2590/1.2615 zone. This range had acted
Throughout the week, the EUR/USD has been trading in a hundred base point range between a support zone at 1.0472/1.0491 and resistance at 1.0572/1.0593. The sideways trading was explained by the markets expecting the Federal Reserve Rate Hike on Wednesday at 18:00 GMT. As the rate hike occurred, the EUR/USD reacted with a 37 point move upwards, which hit
On Monday, the USD/CAD currency pair recovered to the April high level at 1.2880. Meanwhile, the pair has revealed a support zone near 1.2720. If the pair surges above the 1.2880 mark, the currency rate could encounter resistance in the 1.2900 level and the weekly R1 simple pivot point at 1.2927. On the other hand, a bounce off from the April high
Since Thursday, the GBP/JPY currency pair has been trading between the support zone at 162.25/162.60 and resistance at 163.95/164.25. A move below the 162.25/162.60 zone would have no technical support as low as the weekly S1 simple pivot point at 160.10. Meanwhile, take into account that round exchange rate levels could slow down a decline. On the other hand, a surge above
On Monday morning, the AUD/USD currency exchange rate declined below the 0.7050 mark and a support zone at 0.7055/0.7075. Meanwhile, last week's second half high levels have been marked and make up a resistance zone at 0.7160/0.7190. If the Australian Dollar declined against the USD, the pair might look for support in the 0.7000 mark and the weekly S1 simple pivot
On Friday, the EUR/JPY currency exchange rate declined and found support in the combination of the 136.50 mark and the 100-hour simple moving average. Afterwards, a short lived recovery to the 200-hour SMA and the 137.60 level occurred. By the middle of Monday's trading, the rate appeared to be heading back down to the 136.50 level. A move below the
Due to the recent decline of the value of the US Dollar, the price for gold has surged. By the middle of Friday's GMT trading hours, the price had passed two hourly simple moving averages and the resistance zone near 1,910.00. In addition, the commodity has broken the channel down pattern, which guided it since the middle of April. A continuation
On Friday morning, the retracement of the USD/JPY currency pair shortly pierced the 130.00 mark, before finding support in the weekly R1 simple pivot at 129.82. In the meantime, the pair had ignored the Thursday's mid-day low level zone at 130.18/130.30. Moreover, note that the 50-hour simple moving average was approaching the rate from below. In the case that the USD
The US Dollar has recently declined against all other currencies and assets. On the GBP/USD chart is has resulted in a surge, which at mid-day on Friday was approaching the resistance zone at 1.2590/1.2600. The resistance zone marked the Tuesday and Wednesday high levels. In addition, the 100-hour simple moving average had reached the zone from above. A surge above the
On Friday, the US Dollar retraced back down against all peer currencies. On the EUR/USD charts it resulted in a surge above various technical and psychological levels. By the middle of the day's trading, the exchange rate had almost reached the 1.0600 mark. Note that the 1.0600 level could be strengthened by the 100-hour simple moving average. Meanwhile, the
The USD/CAD currency pair encountered resistance in the 1.2880 mark and declined. The decline broke the channel up pattern, which had guided the rate up since the previous Friday. The move occurred due to an all-out decline of the US Dollar. Namely, the US Dollar index was observed to be going down in the aftermath of touching 2002 levels. During
The resistance of the 164.10/164.25 zone was strong enough to cause a decline of the GBP/JPY. The decline eventually found support in the weekly S2 simple pivot point at 162.23. Afterwards, since the middle of Thursday's trading, the pair has been fluctuating around the 163.00 mark. A surge of the Pound against the Japanese Yen would most likely test the resistance
On Friday morning, he AUD/USD broke the channel down pattern, which had guided the rate since April 21. From a fundamental aspect the breaking of the pattern occurred due to news that the Reserve Bank of Australia is set to raise interest rates on Tuesday. Meanwhile, it could be observed on the US Dollar index chart that the USD was
Since the middle of Thursday's trading hours, the EUR/JPY currency exchange rate has been fluctuating between the support of the 137.00 level and resistance at 138.00. A move above the 138.00 level might encounter resistance in the weekly simple pivot point at 138.39 and the 138.50 mark. Higher above, take into account the 139.00 and 139.50 levels, and the August
As the value of the US Dollar continues to grow, the price for Gold extends its decline. During Thursday's trading hours, the price shortly traded below the 1,880.00 level, before retracing to the resistance of the 50-hour simple moving average near 1,893.00. If the price for gold is pushed down by the 50-hour simple moving average, the commodity would look for
On Thursday morning, the USD/JPY pair was testing the resistance zone, which surrounds the 129.00 level. At 03:11 GMT, the Bank of Japan revealed that it would continue its monetary easing policy despite the low value of the Japanese Yen. The announcement resulted in a jump of the rate by 1.00%, which was followed by a surge to the 131.00
The GBP/USD decline has continued, as the pair has passed below 1.2500 and the weekly S3 simple pivot point at 1.2474. During the mid-day hours of Thursday's trading, the pair confirmed the pivot point as resistance and continued to decline. In the near term future, the pair was expected to look for support in the 1.2400 level and the lower
On Thursday, the EUR/USD passed below the 1.0500 level. Meanwhile, the rate had revealed that since April 21 the pair has been declining in a narrow channel down pattern. A continuation of the decline would have no additional technical support, as the pair is below the 50, 100 and 200-hour simple moving averages and the weekly simple pivot points. Due