The price for gold has reached above the 1,784.40/1,788.70 zone. Afterwards, resistance was found in the 1,795.00 mark. On Friday morning, the commodity price was finding support in the previous resistance zone, as the 1,788.70 level appeared to be keeping the price up. If the metal manages to recover, the 1,795.00 level and the 1,800.00 mark are expected to provide resistance.
The Thursday's decline of the US Dollar against the Japanese Yen found ended at midnight below the 133.00 level. During the early hours of Friday's trading, the pair recovered and approached the combined resistance of the 133.50 level and the 50-hour simple moving average. A potential move above the 133.50 level might encounter resistance in the 134.00 mark and the 200-hour
In the aftermath of the Bank of England rate hike, the GBP/USD currency rate has returned to trade near the 1.2150 level. In general, it appears that the effect of the 0.50% base rate increase was offset by the fact that one of the policymaker voted against the hike. On Friday, the upper and lower ranges of the recent volatility
During the second part of Thursday's trading, the EUR/USD currency pair managed to reach above the resistance of the 1.0200 mark and the weekly simple pivot point at 1.0193, and the 200-hour simple moving average. Moreover, the 100-hour SMA failed to act as resistance near 1.0210. On Friday morning, the EUR/USD traded near the 1.0240 level and appeared to
The 1,745.00/1,755.00 zone provided enough support to the price to gold for a broad recovery. By 13:30 GMT, the price had managed to reach and bounce off the resistance zone at 1,784.40/1,788.70. A decline of the commodity price could look for support in the 1,771.30/1,773.10 range. Further below, the 1,745.00/1,755.00 levels are expected to once again act as support. However, a surge
Since Wednesday's afternoon up to the middle of Thursday's trading, the USD/JPY currency pair was testing the resistance of the 134.50 mark and the weekly simple pivot point at 134.39. By 13:00 GMT, the rate was reached by the 200-hour simple moving average, which acted as resistance. The event was followed by a decline, which pierced the support of the
At 12:00 GMT on August 4, the Bank of England hiked its Official Bank rate by 0.50% from 1.25% up to 1.75%. In addition, the central bank has published its Monetary Policy Summary. The Pound lost value due to the details of the monetary policy summary. Namely, one of the committee members did not vote for the 0.50% rate hike. Instead,
On Wednesday, the EUR/USD dipped to the support of the weekly S1 simple pivot point at 1.0128, which together with the 1.0125 level appears to have caused a recovery. By the middle of Thursday's European trading hours, the pair had recovered and was once again testing the resistance of the 1.0200 level, the weekly simple pivot point at 1.0193
Since the start of Tuesday's trading, the USD/CAD currency exchange rate has been trading around the 1.2850 mark. Namely, the pair has been fluctuating in the 1.2830/1.2890 range. An end to the sideways trading with a surge above 1.2890 might encounter resistance in the weekly R1 simple pivot point at 1.2896 and the 1.2900 mark. Higher above, note the weekly
The 159.50 level was enough to cause a major recovery of the GBP/JPY currency exchange rate. By the second part of Wednesday's trading, the pair had reached the 162.00 level. A continuation of the surge and move above 162.00 is set to encounter resistance in the 200-hour simple moving average near 163.35 and the weekly simple pivot point. Higher above,
During the midnight hours to Wednesday, the AUD/USD currency exchange rate for a short period of time traded below the 0.6900 level and the weekly S1 simple pivot point. However, during the day's European trading hours, the currency pair returned to trade above the 0.6900 mark. In the case of the rate returning back below the 0.6900 mark support might
The Euro found enough support in the Japanese Yen in the 133.50 level to start a recovery. By the start of Wednesday's US trading hours, the rate had reached above the 136.00 mark. A continuation of the currency pair's surge might encounter resistance in the combination of the 137.00 mark, the weekly simple pivot point at 137.28 and the 200-hour
On Tuesday, the price for gold eventually reached above the 1,785.00 mark and the 1,786.65 level. However, the short piercing of the resistance levels was followed up by a decline to the 1,755.00 level, which acted as support and caused a minor recovery. By the middle of the day's European trading hours, the commodity price's recovery had found resistance in
On Tuesday afternoon, the USD/JPY currency rate ended trading between 130.50 and 131.00 with a surge. During Wednesday's early trading hours, the pair was fluctuating between the 132.50 and 134.00 levels. A potential decline of the currency pair might look for support in the 132.00 mark and the 50-hour simple moving average at that level. Further below, note the weekly S1
During the midnight hours from Tuesday to Wednesday, the GBP/USD reached and shortly traded below the 1.2150 mark. However, the event was followed by a recovery. During the European morning hours, the rate managed to reach back up to the 1.2200 level. A move of the Pound against the US Dollar might encounter resistance in the 50-hour simple moving average near
The decline of the Euro against the US Dollar has passed below the support of the 1.0200 mark, the weekly simple pivot point at 1.0193 and the 100 and 200-hour simple moving averages. During the early hours of Wednesday's trading, the currency pair confirmed the weekly simple pivot point as resistance. Meanwhile, it was observed that the 1.0160 level
Despite reaching below the 1.2800 mark, the USD/CAD rate eventually started a recovery on Monday. On Tuesday, the pair traded above 1.2850. In the case of a continuation of the US Dollar's recovery against the Canadian Dollar, the pair might encounter resistance in the 1.2900 mark and the weekly R1 simple pivot point at 1.2896. Higher above, take into account the
The GBP/JPY currency exchange rate has failed to find support in the support zone above 160.00. However, on Tuesday morning, the pair found enough support in the 159.50 level to start a recovery. By the middle of the day, the rate had reached back above 160.00. If the Pound continues to gain value against the Japanese Yen, resistance might be found
On August 2, the Reserve Bank of Australia hiked its Cash Rate from 1.35% up to 1.85%. The 0.50% hike was expected, as most central banks have been tightening monetary policy to fight inflation that has been rampant in the aftermath of the coronavirus stimulus. The AUD/USD reacted to the hike with a decline, which over the span of four hours
At mid-day on Tuesday, the decline of the Euro against the Japanese Yen hit the 133.50 level, which acted as support. The decline has been ongoing with round exchange rate levels managing to act as support and resistance. If the pair continues to decline, the 133.00 and 132.50 levels are set to act as support. On the other hand, note
The price for gold has managed to reach above the July resistance zone at 1,771.30/1,773.10. At midnight to Tuesday, GMT hours, the price bounced off the resistance of the 1,780.00 level. During the first half of the day's trading, the price for the metal was fluctuating between the 1,770.00 and 1,780.00 levels. In the case of a surge of the
The decline of USD/JPY continues, as on Tuesday morning the pair had reached the 130.50 mark. During the first half of the day's European trading hours, the currency pair was fluctuating between the 130.50 and 131.00 levels. A resumption of the US Dollar's decline against the Japanese Yen might find support in the 130.00 mark, prior to approaching the 129.50 level
On Monday, the GBP/USD currency pair encountered resistance in the weekly R1 simple pivot point at 1.2293. Afterwards, a decline followed, which by the middle of Tuesday's trading had reached below the 1.2200 mark. A continuation of the decline of the Pound against the US Dollar could find support in the 100-hour simple moving average near 1.2175, the 1.2150 mark and
The EUR/USD eventually reached the resistance of the weekly R1 simple pivot point at 1.0290. The pivot point acted as resistance and a decline followed. By the middle of Tuesday's trading, the currency pair had reached the 1.0220 mark, which acted as support. In the case of the Euro resuming its recovery against the US Dollar, the pair might