For the time being USD/CAD does not seem to be in a hurry to follow our bullish forecast—the currency pair is trading flat.
The Australian Dollar did not waste time yesterday and came close to touching the upper trend-line of the multi-month bearish channel.
EUR/JPY has already passed through the 55 and 100-day SMAs, leaving the 200-day SMA at 134.35 exposed.
Gold fluctuated within the mean range of the several preceding days on Monday as it picked up to reach the weekly pivot point at 1,110.
USD/JPY failed to extend the latest rally from 118.50, and is therefore expected to come back to this month's low.
The latest rally of GBP/USD ended just before the Sterling hit the 50% Fibonacci retracement of the Aug 25-Sep 4 decline.
Bears attempted to commence a sell-off of the Euro against the Dollar on Monday, by pushing the cross below 1.13.
There are plenty of reasons to be bullish USD/CAD right now.
NZD/USD hesitates to move far below 0.63, but eventually the bears are expected to overpower bulls and push the price lower.
While the technical studies are mixed in all the time-frames, AUD/USD keeps moving within the bearish channel (since May).
There is a high chance the ‘sell' signals given by the technical indicators on Friday are going to prove to be correct.
Gold has been inching lower since the beginning of this month; however, volatility and the pace of decline stood at quite low levels.
The current situation in USD/JPY does not seem to warrant a long position.
GBP/USD continues to struggle to resume recovery.
EUR/USD erased one additional resistance on Friday, by penetrating the 23.6% Fibonacci retracement of the 2014-15 downtrend.
The New Zealand Dollar refused to drop below 0.6260 for the fourth consecutive day yesterday, as the NZD/USD rebounded and touched the immediate resistance at 0.6340.
As anticipated, the USD/CAD currency pair suffered a setback on Thursday, declining 50 pips over the day.
The Australian Dollar rebounded from the monthly S1 on Thursday, amid a lot better-than-expected employment change data.
The Euro advanced against the Japanese currency, not only piercing the immediate resistance, but also negating the previous week's losses.
The yellow metal failed to consolidate below the weekly S1 at 1,108 on Thursday and therefore was forced to come back above this important mark.
The Greenback's attempts to pierce the resistance cluster around 121.00 were in vain, as rather poor fundamental data limited the USD/JPY currency pair's upside potential.
As anticipated, the Cable appreciated on Thursday, in spite of the BoE's policy remaining unchanged.
EUR/USD has been rising for a fifth consecutive day in the morning on Friday, after the currency pair posted substantial gains on Thursday.
There New Zealand Dollar brought no surprises on Wednesday, as the NZD/USD currency slumped again after testing the 0.64 level.