As the run to safety ended on Monday, the USD/JPY began to surge due to the Japanese Yen being sold off. By the middle of Tuesday's European trading hours, the currency exchange rate had broken various resistance levels and reached above the 109.00 level. Economic Calendar On some calendars, on Wednesday, the ADP Non-Farm Employment Change is shown as a high impact data
The decline of the GBP/USD has continued, as on Tuesday morning the pair had touched the 1.2950 level. By the middle of the day's European trading hours, the currency exchange rate had retraced back up and found resistance in a pivot point at 1.3020. Economic Calendar On some calendars, on Wednesday, the ADP Non-Farm Employment Change is shown as a high
On Tuesday, the EUR/USD traded near the 1.1050 level. It was being supported by two SMAs near 1.1040 and two resistance levels near 1.1060. The support and resistance levels should be looked at for guidance of the rate's future direction. US ISM Manufacturing PMI The European Common Currency depreciated against the US Dollar, following the US ISM Manufacturing PMI survey results
As expected, the DUK+/EUR currency exchange rate traded sideways below the 2.0500 level throughout the last week. In regards to the near term future, various signals were indicating that the exchange rate could decline. Daily Candle Chart On the daily candle chart, one can observe that the rate had been trading almost sideways since January 19. During that time period, the
On Friday, the yellow metal reached higher than expected. However, by the middle of Monday's trading, the rate had retreated back down to the previous price levels. Namely, the metal traded between the 1,575.00 and 1,580.00 levels. These levels were being strengthened by the 55 and 100-hour simple moving averages. Economic Calendar Analysis The week, as the first of
On Monday, the USD/JPY was testing resistance levels after reaching below the 108.40 level. In general, the currency exchange rate was expected to continue to decline. A decline could occur, as soon as the hourly simple moving averages catch up with the rate. Economic Calendar At 15:00 GMT the US ISM Manufacturing PMI could cause a move on the USD/JPY from 20.0 to
After reaching above the 1.3200 level on Friday, the rate plummeted on Monday. The crash was caused by comments made by UK officials, including the Prime Minister Boris Johnson. A report on the event will be available during today's GMT trading hours. Meanwhile, from a technical perspective, on Monday, the rate was looking for support. Economic Calendar Relevant data publications for
On Friday, the rate managed to pass the resistance of the 1.1040 level. Moreover, the rate surged above the 1.1090 level. On Monday, the EUR/USD pair was retracing back downwards. In general, the rate was finding support in the weekly pivot point near 1.1060, and it was expected to surge, as the rate is approached by the 55-hour SMA. Economic Calendar Analysis The
On Thursday, the yellow metal faced the resistance of the 1,585.00 level, which caused a decline down to the 1,571.00 level, where support was found. At mid-day on Friday, gold traded near 1,580.00, had the support of the 55 and 100-hour simple moving averages, and in theory should once again test the 1,585.00 resistance. Economic Calendar Analysis Next week,
The squeeze of the USD/JPY between the 55 and 100-hour simple moving averages, as expected, resulted in a break out. The exchange rate broke out to the downside and reached the 108.60 level, exceeding expectations. By the middle of Friday's GMT trading hours, the pair was located between the resistance of the mentioned SMAs near 109.00 and the support of a
By the middle of Friday's London trading hours, GBP/USD currency exchange rate had reached the 1.3140 level. Immediately after the achievement, the rate retraced back to find support in the 1.3100 mark. In the near term future, the GBP/USD was expected to continue and reach the weekly R1 simple pivot point at 1.3181. Bank of England Monetary Policy Report The
On Thursday, the surge of the EUR/USD found resistance in the 1.1040 level. Afterwards a consolidating decline down to the support of the 55 and 100-hour SMAs occurred. The currency exchange rate found support in those technical indicators. In general, the rate was expected to recover and make another attempt to pass the resistance at 1.1040. In the meantime, take into
On Thursday, the surge of the yellow metal's price continued, as the pair managed to pass the resistance of hourly SMAs. By the middle of the day's GMT hour trading, the price had already touched the 1,583.00 level. Economic Calendar Analysis There are no more events scheduled for this week that might impact gold through the adjustments of USD valuation. XAU/USD
On Thursday, the USD/JPY once again retreated to the support of the 108.80 level, which has kept the rate up throughout this week. In the meantime, the pair has passed the support of a trend line, which was recently added by connecting the January low levels. Economic Calendar There are no more event scheduled for this week that might impact the USD/JPY currency
On Thursday, the Bank of England Monetary Policy Committee's vote dispersion surprised the markets, as it was more bullish for the GBP than it was expected. Namely, GBP/USD jumped due to the announcement. Note that the spike occurred a minute before the release. This happens during the aftermath of a scandal of BoE announcement information being released to some
The EUR/USD found support in the weekly S1 simple pivot point at 1.0992 and began a surge. By the middle of Thursday's trading, the rate had pierced the last resistance level near the 1.1020 mark. In the near term future, the currency exchange rate was expected to aim for the upper trend line of a channel down pattern near the 1.1025
The yellow metal's price found support in the 200-hour simple moving average near 1.565.00. This event resulted in a surge, which on Wednesday reached for the 1,575.50 level. At that level, the commodity price would test the resistance of the 55-hour simple moving average, which by mid-day was located at 1,575.50. Economic Calendar Analysis On Wednesday, the US Federal Funds
The rate ended trading sideways on Tuesday and slightly surged until it was squeezed in between the 55 and 100-hour simple moving averages at 109.03 and 109.18. In general, any squeeze ends with a break out. In this case it could result in a surge to 109.55 or a drop to 108.90. Economic Calendar On Wednesday, the US Federal Funds Rate is scheduled
The 1.3000 level was pierced on Tuesday. On Wednesday, the rate had retraced back up in the borders of a channel down pattern. In the near term future, the rate was expected to bounce off the upper trend line of the pattern and resume its decline. In the case of a decline, the pair would aim for the support
On Wednesday, the EUR/USD rate pierced the support of the 1.1000 level. Namely, it traded shortly below this mark. However, it does not indicate that the rate is set to reach new low levels. The pair was piercing the 1.1000 mark the same way in November when the rate eventually found support and surged. ECB Monetary Policy Statement The European
The DUK+/EUR exchange rate started the week by trading near its historical high level at 2.05. In general, the rate was expected to fluctuate just below this level, as market depth data revealed that there is a large amount of sell orders above the current price level. Daily Candle Chart On the daily candle chart, the currency exchange rate is overbought,
After two attempts to pass the 1,585.00 level, the yellow metal's price began a decline. Namely, on Tuesday the price tumbled below the 55-hour simple moving average near 1,575.00. In the near term future, the price was expected to look for support. Economic Calendar Analysis This week, on Tuesday, minor spike in volatility could occur due to the US Durable
On Tuesday, the USD/JPY traded sideways with high volatility, as it had also done on Monday. Meanwhile, the rate had been approached by the 55-hour simple moving average, which should provide resistance to the rate. Economic Calendar On Tuesday, minor spike in volatility could occur due to the US Durable Goods Orders Release at 13:30 GMT. This event has caused moves on the
On Tuesday morning, the GBP/USD exchange rate touched the 1.3005 level. In general, the rate was expected to continue to decline until it reaches the 1.3000 level. The 1.3000 level is expected to provide support. However, take into account that the 1.3000 failed to stop the pair from declining two times in January. Economic Calendar During the last week of