At mid-day on Wednesday, the USD/JPY currency pair reached above the previous June high levels at 136.60/136.70. Next target for the surge could be the 137.00 mark, which might act as resistance. However, a potential retracement back down might look for support in the 136.60/136.70 zone and the weekly R1 simple pivot point at 136.50.
The GBP/USD currency pair has passed below the support of the weekly S1 simple pivot point at 1.2174 and the previous week's low level zone at 1.2160/1.2170. A continuation of the decline of the Pound against the US Dollar might look for support in the 1.2150 and 1.2100 levels, before reaching the weekly S2 simple pivot point at 1.2085. Meanwhile, a
The resistance zone at 1.0600/1.0607 held and the EUR/USD eventually passed below various support levels. During the early hours of Wednesday's trading, the pair had shortly traded below the 1.0500 mark. Meanwhile, resistance was found in the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.0542. If the rate passes above
The bounce off from the resistance of the descending trend line eventually reached the last week's low level zone at 1,816.90/1,823.50. If the support levels hold, a potential recovery of the commodity price might occur. A move higher could encounter resistance in the combination of the 1,830.00 level and the 50 and 100-hour simple moving averages. Higher above, note the descending
On Tuesday morning, the USD/JPY currency pair managed to reach above the resistance levels that surround the 135.50 level. By the middle of the day's European trading hours, the rate was heading to the weekly R1 simple pivot point at 136.49, the 136.50 mark and the June 21 and 22 high level zone at 136.60/136.70. If the pair reaches above the
Despite reaching above the 1.2300 mark, the GBP/USD found resistance in a recent high level zone at 1.2315/1.2330. Meanwhile, support is being found in the 200-hour simple moving average and the weekly simple pivot point at the 1.2250 mark. A move above the resistance zone might be stopped by the weekly R1 simple pivot point at 1.2337. Higher above, note the
At mid-day on Monday, the EUR/USD reached above the 1.0600/1.0607 zone. However, resistance was immediately encountered in the weekly R1 simple pivot point at 1.0616. During the first half of Tuesday's trading hours, the pair was fluctuating below the 1.0600 mark and the 1.0570 level. Meanwhile, the pair was being approached by the support of the 50-hour simple moving
Since late hours of June 16 trading, the price for gold has been facing a descending resistance line. On Monday, the pair bounced off the resistance line and was looking for support in the hourly simple moving averages. A potential decline of the commodity price could look for support in the last week's low level zone at 1,816.90/1,823.50. Further below
The USD/JPY currency pair has been trading near the 135.00 mark since mid-Thursday. By the middle of Monday's trading hours, the exchange rate was testing the combined resistance of the weekly simple pivot point at 135.38 and the 100-hour simple moving average. A move above the technical resistance levels and the 135.50 level might encounter resistance in the 136.00 mark, before
On Monday morning, the GBP/USD currency pair managed to reach above the resistance of the 1.2300 level. The surge occurred, as the rate found support in the combination of the 50 and 100-hour simple moving averages and the weekly simple pivot point near 1.2250. If the pair continues to surge, the rate is set to face resistance in the weekly R1
The EUR/USD currency pair remains below the 1.0600 mark. Note that there is a resistance zone at 1.0600/1.0607. Meanwhile, technical support is located at 1.0535/1.0542. At that zone, the 50 and 100-hour simple moving averages, the weekly simple pivot point and a support trend line are located at. A move above 1.0600/1.0607 could encounter resistance in the weekly R1 simple
The price for gold managed to surge during the mid-day hours of Thursday. The surge of the metal occurred due to the decline of the US Dollar, which was created by the strengthening of various European currencies, as their respective central banks hiked interest rates. The surge eventually settled in the 1,840.00/1,860.00 zone. In regards to the future, if the metal
A major surge has occurred on the USD/JPY charts. Most of the surge is attributed to the Bank of Japan beating down the value of the Japanese Yen. The central bank announced that it would continue its monetary easing policy despite other banks hiking interest rates. The surge resulted in the rate reaching the 135.00 mark during the first
The surge of the GBP/USD eventually found resistance in the 1.2400 mark and the weekly simple pivot point. The resistance was strong enough to cause a decline to the 1.2250 level, which acted as support during the early hours of Friday's trading. If the Pound resumes its recovery against the US Dollar, note the 1.2400 mark and the resistance zone around
The EUR/USD managed to surge through the resistance of the 1.0500 mark and eventually reached the combined resistance of the 1.0600 mark and the weekly simple pivot point at 1.0598. The resistance held and by the middle of Friday's trading, the rate had retraced down and found support in the 1.0500 mark. If the pair recovers from the 1.0500 mark,
Except the volatility caused by the Federal Reserve and Swiss National Bank, the price for gold has not moved. Namely, the metal has traded between 1,815.00 and 1,835.00 since the middle of Wednesday European trading hours. If the metal surges above 1,835.00, the 1,840.00 level and the 200-hour simple moving average might stop an upwards move, before the rate reaches
The USD/JPY currency exchange rate has plummeted, as the markets have taken in the Federal Reserve rate hike and new macroeconomic information that impacts the US Dollar. On Thursday, the pair traded near the 132.50 level. If the pair continues to decline, support might be found in the 132.00 level, the weekly S1 simple pivot point at 131.69 and the 131.50
In the past 24 hours, the US Federal Reserve hiked 75 base points and the Bank of England hiked its interest rate by 25 points. First of all note the high volatility candles around the events at 18:00 and 12:00 GMT. Secondly, in theory, as the Fed surprises with a larger than expected hike and Bank of England did as
Prior to the Federal Reserve hiking interest rates, the EUR/USD reached below the 1.0400 mark. The press conference held by the Fed caused a surge, as Jerome Powell made initially reassuring comments. However, by the middle of Thursday's trading, the pair was once again below the 1.0400 level. Moreover, the pair was ignoring the support and resistance of the
The USD/CAD reacted to the Fed Press conference with a decline down to the 1.2862 level. At midnight to Thursday, the level was approached by the support of the 100-hour simple moving average. The SMA was enough to cause a recovery. By the middle of the day's Euroepan trading hours, the pair had recovered to the 1.2950 mark. If the rate
On Thursday, the GBP/JPY currency pair declined. The decline started after a failed approaching of the resistance of the 100-hour simple moving average and the 164.00 mark. By the middle of Thursday's trading, the pair had declined and shortly reached below the 161.00 mark. In the meantime, the markets were expecting the Bank of England rate hike at 12:00 GMT.
The US Federal Reserve caused a decline of the US Dollar on Wednesday despite actually hiking rates more than expected. The decline occurred due to what was said by the head of the Federal Reserve Jerome Powell. However, starting from midnight hours to Thursday, the US Dollar started to strengthen. On the AUD/USD charts it resulted in an initial move
On Thursday morning the Euro plummeted due to an European stock sell off. The stock sell off was attributed to the Swiss National Bank hiking the CHF interest rate and revealing information about the situation of the European economy as a whole. Namely, a spillover occurred. On the EUR/JPY charts the event resulted in a decline below the 138.00
The price for gold once again tested the support of the zone below 1,810.00 level during late Tuesday's trading hours. By the middle of Wednesday's trading, the price had recovered and returned to 1,835.00. Meanwhile, on Wednesday, the markets were awaiting the US Federal Reserve rate hike at 18:00 GMT, which is set to reveal the future direction of the US