The GBP/USD retraced back up to the 55 and 200-hour simple moving averages and the upper trend line of the channel down pattern. However, during the Asian session, the exchange rate broke the channel pattern and the resistance of the 55 and 200-hour SMAs. On Wednesday morning, the pair confirmed the previous resistance of the channel pattern as support before
After a test of the resistance of the 1.1950 mark, the EUR/USD eventually declined below the support of the 1.1915/1.1910 zone. Afterwards, the pair found support in last week's low levels at 1.1882/1.1888. Since Tuesday's GMT afternoon hours, the pair was trading sideways between the two mentioned zones. In the meantime, the rate was being approached by the resistance of the
Since the start of this week's trading, the price for gold has remained near the 1,730.00 level. However, on Tuesday morning, the rate had shortly pierced the resistance of the 1,735.00 level. Moreover, it was not retracing down to the support of the 55-hour simple moving average near 1,724.00. Economic Calendar Analysis On Tuesday, at 12:30 GMT expect the US Retail Sales and
Since early Monday's trading hours, the USD/JPY has been testing the resistance zone of the March high levels. However, the rate has been booking higher low levels after each failed attempt to pass the zone. In addition, the support of the 55-hour simple moving average was approaching the rate from below. Economic Calendar On Tuesday, at 12:30 GMT expect the US Retail
The GBP/USD has passed the support of the zone that kept it up since March 10. On Tuesday morning, the pair reached the support of the weekly S1 at 1.3813. In the meantime, it was spotted that the 55-hour SMA and the resistance of the weekly simple pivot point caused the most recent decline, which pushed through the mentioned support
Since the middle of Monday's trading, the EUR/USD has traded sideways between the support of the 1.1910/1.1915 and the resistance of the 1,940.00 level. In addition, resistance was being provided by the 55 and 100-hour simple moving averages. Future forecasts were based upon, which of the mentioned levels fails to hold. Economic Calendar Analysis On Tuesday, at 12:30 GMT expect the US Retail
During the last week, the DUK+/EUR rate declined to the 3.4000 level. At this level, the exchange rate found support on Friday March 11. Since then, the pair has been fluctuating between the 1.3400 level and the wall of sell orders at 3.5100. Daily Candle Chart What can be concluded from the technical chart is that the simple moving averages fail
The price for gold has recovered due to finding support in the 1,700.00 level. By the middle of Monday's trading hours, the commodity price had reached the 1,735.00 level. In the meantime, support was provided by the 55-hour simple moving average near the 1,720.00 level. Economic Calendar Analysis On Tuesday, at 12:30 GMT expect the US Retail Sales and Core Retail Sales
The break out from the squeeze of the USD/JPY has resulted in a new 2021 high level. However, after booking the high level, the rate retraced back down to the 109.00 mark. In the near term future, the pair could be pushed up by the hourly simple moving averages. Economic Calendar On Tuesday, at 12:30 GMT expect the US Retail Sales and
The GBP/USD currency exchange rate began the week's trading by trading between the support of the 200-hour simple moving average and the resistance of the 55-hour simple moving average. Future forecasts were based upon which one of the two SMAs fails to hold. Economic Calendar On Tuesday, at 12:30 GMT expect the US Retail Sales and Core Retail Sales data. This publication
The EUR/USD started the week by ignoring technical resistance and support levels. Instead, the rate could be observed respecting round exchange rate levels. For example, from 07:00 GMT to 12:00 GMT the rate traded between the 1.1920 and 1.1940 levels. In the meantime, it was previously noted that the 1.1910 provided support and 1.1960 level provided resistance. Economic Calendar Analysis On Tuesday, at
The yellow metal found resistance in the 1,740.00 level, which was enough for it to decline. The decline was only slowed down by the 55-hour simple moving average. However, eventually the SMA failed. By mid-day on Friday, the metal had reached the 1,700.00 mark. Economic Calendar Analysis On Tuesday, at 12:30 GMT expect the US Retail Sales and Core Retail Sales data.
The USD/JPY has broken the channel down pattern. Namely, the squeeze between the upper trend line of the pattern and the 50.00% Fibonacci retracement level at 108.35 ended with a break-out to the upside. By the middle of Friday's trading, the rate was reaching for the weekly R1 at 109.23. Economic Calendar On Tuesday, at 12:30 GMT expect the US Retail Sales
On Friday, the GBO/USD reached the 1.4000 level, which provided resistance. This resulted in a decline, which tested the support of this week's channel up pattern. Economic Calendar On Tuesday, at 12:30 GMT expect the US Retail Sales and Core Retail Sales data. This publication could cause a move on the GBP/USD from 10.3 to 26.3 base points, as it has
By the middle of Friday's trading hours, the EUR/USD broke the channel up pattern and past the support of 55-hour simple moving average. Afterwards, the rate found support in 1.1915 and 100-hour SMA. The decline was caused by a fundamental event. The ECB announced the increase of monetary stimulus on Thursday. Namely, the supply of EUR is expected to rise. Economic Calendar
The most important fact to mention in regards to gold is that it has broken the upper trend line of the pattern, which guided it down since early February. This indicates that the decline of the metal could be over and a recovery is starting. Economic Calendar Analysis The notable data releases for this pair this week are over. Next week's events
The USD/JPY currency exchange rate has been finding support in a 50.00% Fibonacci retracement level at 108.35. In addition, note that a channel down pattern was spotted. Most USD rates have been guided by a channel pattern throughout the week. In the case of the USD/JPY the pattern is capturing a decline of the rate. Economic Calendar The notable data releases
The GBP/USD has passed the resistance of the 200-hour simple moving average. It has resulted in a surge, which on Thursday aimed at the 1.3982 level, where a weekly R1 simple pivot point was located at. Meanwhile, a channel up pattern was spotted, which has guided the rate during this week. Economic Calendar The notable data releases for this pair this week
By the middle of the day's European trading hours, the currency exchange rate had reached the resistance of the 200-hour simple moving average and the weekly simple pivot point at 1.1975. In the meantime, analysts spotted a channel up pattern, which had guided the rate throughout this week. It captures the broad decline of the USD, which can be spotted on
As it was speculated on Tuesday, the yellow metal was impacted by round price levels before reaching the 200-hour simple moving average. Namely, the 1,710.00 and 1,720.00 levels provided the commodity price with both support and resistance. In the meantime, on Wednesday, the price was being approached by the mentioned SMA. Economic Calendar Analysis On Wednesday, the US Consumer Price Index data could
The support of the 55-hour SMA, which pushed the rate up since February 24 has failed at continuing the surge of the USD/JPY. Since late Tuesday's European trading hours, the rate has been trading around the simple moving average. In the meantime, the currency exchange rate was being approached by the support of the 100-hour simple moving average. Economic Calendar On Wednesday,
Since the middle of Tuesday's European trading hours, the GBP/USD has been testing the resistance of the 200-hour simple moving average. By the middle of Wednesday's trading, the SMA had reached the 1.3905 level and another test of resistance was ongoing. Future forecasts were based upon whether or not the SMA's resistance holds. Economic Calendar On Wednesday, the US Consumer Price Index
The EUR/USD did not reach the 1.1950 level, as it encountered resistance at 1.1915. In the meantime, the rate was being approached from above by the 100-hour simple moving average. Near term forecasts were based upon whether or not the 100-hour simple moving average provides resistance. Economic Calendar Analysis Notable data releases will start on Wednesday. On that day, the US Consumer Price
The yellow metal's price found support in the 1,680.00 level before starting a recovery. At mid-day on Tuesday, the commodity price passed the resistance of the 100-hour simple moving average near the 1,700.00 mark. Due to that reason, the metal had no technical resistance as high as the 200-hour simple moving average at 1,727.45. Economic Calendar Analysis On Wednesday, the US Consumer Price