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
Since the middle of Monday's GMT trading hours, the EUR/USD has traded almost flat near the 1.1020 level. In the meantime, the rate was being approached by the 55-hour simple moving average. The SMA was expected to provide resistance and push the rate down. Economic Calendar Analysis This week, on Tuesday, minor spike in volatility could occur due to the US Durable Goods
On Monday morning, the price for gold jumped to the 1,585.00 level. It is likely that yellow metal could consolidate in the 1,580.00 area against the US Dollar within the following trading session. Economic Calendar Analysis This week, on Tuesday, minor spike in volatility could occur due to the US Durable Goods Orders Release at 13:30 GMT. On Wednesday,
During Monday morning, the USD/JPY currency pair was testing the support level formed by the weekly S1 and the monthly PP at 108.90. If the given level holds, it is likely that a reversal north could occur within the following trading session. Economic Calendar On Tuesday, minor spike in volatility could occur due to the US Durable Goods Orders Release at 13:30 GMT.
During Monday morning, the GBP/USD exchange rate was trading between the 55- and 200-hour moving averages. If the given moving averages hold, it is likely that the British Pound could consolidate against the US Dollar in the short term. Economic Calendar During the last week of January, most attention will be paid to the US Federal Reserve and the
During Monday morning, the EUR/USD was trading at the 1.1030 area. The pair could gain support of the lower boundary of the short-term descending channel and reverse north in the nearest future. Otherwise, some downside potential could prevail. Economic Calendar Analysis This week, on Tuesday, minor spike in volatility could occur due to the US Durable Goods Orders Release at 13:30 GMT. This
The recently discovered wedge pattern enforced its borders on Thursday. The metal's price bounced off its lower trend line and reached the January 21 high level. By the middle of Friday's London trading hours, the commodity price had bounced off the high level and reached for the support of the 55 and 100-hour simple moving averages near 1,559.00. Economic Calendar Analysis There are
The decline of the USD/JPY stopped at the 109.27 level and began a retracement back up. The retracement reached the 55-hour simple moving average on Friday, which signaled that the rate is no longer oversold. In the meantime, Dukascopy Analytics spotted a channel down pattern, which has guided the rate since the middle of January. Namely, it starts with the sideways
On Friday morning, the GBP/USD traded with almost 100 pip volatility during a period of one hour. The volatility ended with the rate trading below the 1.3100 level. At the time of writing, the pair was finding support in the 1.3080 level, which was strengthened by the support of the 100-hour simple moving average. Economic Calendar During the last week of January, most
As forecast on Thursday, the EUR/USD declined. The push for the rate's decline was the ECB Monetary Policy Statement, which revealed that the creation of the EUR currency would continue. Namely, there will be more EUR in circulation, which decreases the value of the currency. By the middle of Friday's trading, the rate had almost touched the 1.1030 level. Moreover, the
On Thursday, gold continues to trade around the hourly simple moving averages. In the meantime, Dukascopy Analytics spotted a rising wedge pattern that captures the rates movements after the Iran-US fundamental surge. If the price continues to follow the pattern, it should eventually reach the resistance of the 1,570.00 level. Economic Calendar Analysis The week's scheduled event historical data tables have been published.
By the middle of Thursday's London trading hours, the USD/JPY had hit the low level of 109.50. In addition, during the decline that has been occurring since the Bank of Japan announcement on Tuesday the pair has passed the lower trend line of a channel up pattern. Japanese Yen Appreciated on Raised Growth Forecast On Tuesday, January 21, the Japanese
The GBP/USD managed to pass the resistance of the 1.3100 level. On Wednesday, the rate surged to the 1.3150 level, below which it began to trade sideways. In the meantime, the high level 1.3119 of December 17 had begun to provide support. In general, the rate was expected to continue to consolidate by trading sideways between 1.3119 and 1.3150 until
On Thursday morning, the EUR/USD continued to trade near previous day's trading levels, as it fluctuated near the 1.1080 mark. However, the rate had pierced the support of the 1.1080 level. Moreover, the rate failed two times to pass resistance levels near 1.1100. These facts combined signal that the currency exchange rate would decline. Economic Calendar Analysis On Thursday, the European Central
Since the middle of Tuesday's GMT trading hours, the yellow metal has fluctuated in a ten dollar range between 1,550.00 and 1,560.00. Both of these levels were providing the psychological impact on the price that round levels have on gold. In addition, the resistance of the 55-hour simple moving average was located just below the 1,560.00 level. Economic Calendar Analysis The week's scheduled
The decline of the USD/JPY that was caused by the Bank of Japan continued after retracing back up to the resistance of the 55 and 100-hour SMAs. Eventually, a low level was reached at 109.80, from where another surge started. By the middle of Wednesday's trading, the surge had stopped, as the rate was being squeezed in between hourly simple moving
After trading just above technical support levels that are located from 1.3025 to 1.3035, the GBP/USD began to surge and was heading to the 1.3100 level. The 1.3100 level was expected to stop the surge. Moreover, a weekly R1 pivot point was providing resistance at 1.3104. UK Average Earnings Index The British Pound appreciated against the US Dollar, following the UK Average
In the aftermath of breaking the resistance of the 55-hour SMA, the EUR/USD reached the resistance levels near 1.1120 and bounced off them. By the middle of Wednesday's trading session, the rate had once more declined to the support of the 1.1080 level. In general, the rate was expected to trade above the 1.1080 level until the resistance of the 55
The surge of the yellow metal's price did not reach the 1,570.00 level. The pair reversed its surge at 1,568.90. On Tuesday morning, the rate had declined to trade sideways between 1,554.00 and 1.558.00. In the meantime, the metal had retreated to the support of the hourly simple moving averages. With it, gold no longer was under overbought pressure. Economic Calendar Analysis The
The squeeze of the rate between the 55-hour SMA and a pivot point ended, as the Bank of Japan released a monetary policy announcement. The announcement caused a break out of the USD/JPY down by strengthening the value of the Japanese Yen. By the middle of the day, the rate had recovered by finding support in the 200-hour SMA. Economic Calendar The week's