On Friday, May 7, the USD/JPY experiences a sharp drop at 12:30 GMT. The move was caused by the worse than forecast US labour data. The rate suffered a 81 pip drop. However, by the middle of Monday's trading hours, the pair had recovered back to the 109.00 level, where it encountered resistance. If the rate fails to pass the resistance
Since the middle of Friday's GMT trading hours, the GBP/USD currency exchange rate has reached above the 1.4100 level, as it had gained more than 1.50%. In the near term future, the pair's surge was expected to reach for the resistance of the weekly R2 simple pivot point at 1.4138. If the pair passes this resistance level, GBP/USD could reach for
Since reaching the 1.2175 mark on Friday, the EUR/USD currency exchange rate has traded below it. In the case of the rate managing to pass this resistance, the pair could reach for the 1.2200 mark and afterwards the weekly R1 simple pivot point at 1.2232. On the other hand, a potential decline of the rate could look for support in
The US Dollar declined by 67 pips or 0.55% against the Canadian Dollar on Friday. The currency pair was pressured lower by the 50– hour simple moving average during Friday's trading session.
Upside risks have dominated the British Pound against the Japanese Yen since Friday's trading session. The GBP/JPY currency pair has surged by 190 pips or 1.25% during this period.
The Australian Dollar surged by 99 pips or 1.27% against the US Dollar on Friday. A breakout occurred through the upper boundary of an ascending channel pattern during Friday's trading session.
The common European currency surged by 57 pips or 0.42% against the Japanese Yen on Friday. The currency pair tested the 132.40 level during Friday's trading session.
As soon as the yellow metal's price passed the resistance of the 1,800.00 level, the price jumped by 0.80%. By the middle of Friday's trading, the price had reached the 1,820.00 level. In the near term future, the metal was expected to consolidate its gains by trading sideways. Afterwards, the 55, 100 and 200-hour simple moving averages could catch up and provide
During early Friday's trading hours, the USD/JPY shortly pierced the support of the 109.00 level and the 200-hour simple moving average. However, support was provided by the May 3 low level zone of 108.90/108.95. By the middle of Friday's trading, the rate was fluctuating between the support of the 109.00 level and the 200-hour simple moving average and the resistance of
The GBP/USD currency exchange rate made a short term surge above the 1.3920/1.3930 zone. The rate bounced off the 1.3940 level and retreated to the 1.3860 level, which provided support. The volatility is attributed to the announcement of the Bank of England that it would stick to its monetary policy. Initially, a 30 pip move down occurred, which was followed by
Downside risks pressured the US Dollar against the Canadian Dollar on Thursday. The currency pair breached the support level at 1.2250 during Thursday's trading session.
Since the middle of Thursday's trading session, the EUR/USD has been trading below the resistance of the 1.2070 level. In the meantime, the rate almost fully ignored the resistance of the 200-hour simple moving average and the weekly simple pivot point near 1.2060. In the near term future, the rate could bounce off the 1.2070 level and decline to the
The Pound Sterling fell by 69 pips or 0.45% against the Japanese Yen on Thursday. The currency pair breached the 50– hour simple moving average during yesterday's trading session.
Upside risks dominated the Australian Dollar versus the US Dollar on Thursday. The AUD/USD currency pair tested the weekly resistance level at 0.7784 during Thursday's trading session.
The common European currency surged by 62 pips or 0.47% against the Japanese Yen on Thursday. The currency pair tested the upper line of a descending channel pattern at 131.80 during Thursday's trading session.
The support of the zone just above the 1,770.00 level was enough for the metal's price to surge above the 55, 100 and 200-hour simple moving averages. By the middle of Thursday's European trading hours, the price was heading to the resistance of the 1,800.00 mark. If the metal manages to pass the resistance of the 1,800.00 level, the rate could
At mid-day on Thursday, the USD/JPY broke the support of the channel up pattern, which had guided the rate since late April. In the near term future, the rate was expected to reach the support of the 109.00 level, which had been impacting the rate throughout the recent history. If the 109.00 level provides support, the rate would most likely aim
The resistance zone above the 1.3923 level held out. During the early hours of Thursday's trading, the GBP/USD rate had passed the support of the trend line, which pushed the rate up during this week. At mid-day, it was spotted that the rate was finding short term support in the 55, 100 and 200-hour simple moving averages. In the case of
The zone from the 1.2000 mark to the 1.1985 level managed to provide the EUR/USD currency exchange rate with enough support for the rate to surge. By the middle of Thursday's European trading hours, the rate had reached above the resistance of the 55 and 100-hour simple moving averages. In the near term future, the pair could reach the resistance of
The US Dollar declined by 47 pips or 0.38% against the Canadian Dollar on Wednesday. The 50– hour simple moving average pressured the exchange rate lower during Wednesday's trading session.
The British Pound declined by 48 pips or 0.31% against the Japanese Yen on Wednesday. The decline was stopped by the 50– hour simple moving average during yesterday's trading session.
The Australian Dollar surged by 46 pips or 0.60% against the US Dollar on Thursday. A breakout occurred through the upper boundary of a descending channel pattern during Thursday's trading session.
The common European currency edged lower by 40 pips or 0.31% against the Japanese Yen on Wednesday. The currency pair breached the 50– and 200– hour SMAs during Thursday's trading session.
After testing the 1,800.00 level's resistance on Tuesday, the yellow metal declined. On Wednesday, the price was fluctuating almost sideways between the 1,770.00 and 1,785.00 levels. In the meantime, the price appeared to respect the resistance of the 55-hour simple moving average. In the case of the price passing the resistance of the 55-hour simple moving average and the 1,785.00 level,