Gold booked a new low level during early Thursday's trading, as the price for gold shortly fluctuated at the 1,769.00 level. In the meantime, it was spotted during the afternoon that the 50-hour simple moving average and the previous support zone at 1,778.60/1,782.70 were providing resistance to the metal's recovery. A potential resumption of the decline of the metal could decline
On Thursday morning, the USD/JPY currency exchange rate approached and bounced off the combination of the upper trend line of the channel down pattern and the 100-hour simple moving average near 113.30. By the start of the day's US trading, the pair was approaching the this week's low level zone at 112.53/112.65. In the case that the support zone holds, the
On Wednesday, the GBP/USD pair's decline found support in the weekly S1 simple pivot point at 1.3264. The pivot point provided enough support for a recovery to start. By the start of Thursday's US trading session, the rate had reached the resistance of the 200-hour simple moving average near 1.3340. If the pair passes the resistance of the 200-hour simple moving
On Thursday, the EUR/USD currency exchange rate remained near previous day's trading levels, as the pair fluctuated between 1.1310 and 1.1350. In the meantime, the 100-hour simple moving average had caught up with the rate and provided support. If the 100-hour simple moving average manages to push the EUR/USD up, the rate could pass the 1.1360 level and aim at
On Wednesday, the USD/CAD shortly pierced the combined support of the 1.2720/1.2732 zone and the lower trend line of the November channel up pattern. Although, afterwards the rate recovered to the 1.2830 level, which provided resistance. The resistance was enough for a retracement down to occur. By the start of Thursday's European trading hours, the pair had reached the 1.2780
On Wednesday, the GBP/JPY currency exchange rate shortly fluctuated below the lower trend line of the large scale channel down pattern, which has guided the rate since mid-October. However, eventually the rate recovered and by the start of Thursday's European trading, the rate had reached above the 150.50 mark and the 50-hour simple moving average. A continuation of the surge is
The AUD/USD eventually bounced off the resistance of the zone at 0.7170/0.7173 and declined. The decline initially found support in the 50-hour SMA and made another attempt to pass the resistance zone before retreating to the 0.7100 level. On Thursday, it was spotted that the 0.7092/0.7094 zone was providing support. In the case that the rate recovers, it would most likely
The EUR/JPY currency exchange rate found resistance in the 200-hour simple moving average near 128.70. The SMA provided enough resistance on Wednesday to cause a decline through the support of the 50-hour SMA to the 127.50 mark. The 127.50 once again provided support and force the Euro into a recovery against the Japanese Yen. By the start of the
The yellow metal's price became highly volatile and eventually passed below the support zone of 1,778.60/1,782.70, which kept the rate up since November 23. The high volatility was fueled by the US Federal Reserve Chairman Jerome Powell giving a testimony to the US Senate. Despite the passing below the support zone, the price for gold recovered above the zone and
The high volatility of the USD/JPY currency exchange rate, which was caused by the head of the US Federal Reserve Jerome Powell revealed the borders of a channel down pattern, which appears to have guided the rate down throughout this week. On Wednesday, the rate bounced off the upper trend line of the pattern and passed the support of the 50-hour
The high volatility caused by the US Fed Chairman's testimony resulted in the GBP/USD dropping from the resistance zone at 1.3365 to the 1.3200 mark. However, by the middle of Wednesday's European trading hours, the rate had returned to previous levels, as it had once again used the support zone at 1.3300/1.3380 and was heading to the 1.3367/1.3370 resistance zone. A
The testimony of the US Federal Reserve Chairman Jerome Powell caused major volatility. Namely, the EUR/USD bounced off 1.1380 to the 1.1240 mark during the testimony. Such an unexpected fundamental event ignored all technical levels. However, by the start of Wednesday's US trading hours, the EUR/USD had returned to normal trading, as it was finding support in the 50-hour
Despite almost touching the 1.2840 high level, the USD/CAD retreated and returned to the support of the 1.2720/1.2732 zone. On Wednesday, the rate was finding support in the zone, as a recovery was possible. A potential recovery of the USD/CAD would most likely encounter resistance in the 50-hour simple moving average near 1.2765 and the 1.2800 level. Above these levels,
The GBP/JPY has bounced off the combination of the 150.00 mark, the weekly S1 simple pivot point at 149.93 and the lower trend line of the large scale channel down pattern, which has guided the rate since the middle of October. The event was followed up by a surge, which on Wednesday almost touched the 151.50 mark. In the case that
Despite the sharp drop on Tuesday, the AUD/USD currency exchange rate recovered. By the middle of Wednesday's European trading hours, the currency exchange rate had reached the resistance zone at 0.7170/0.7173. In the meantime, it was spotted that the rate was finding support in the 0.7140 level, which was supported by the 50-hour simple moving average. A surge above the resistance
During the second part of Tuesday's trading, the EUR/JPY currency exchange rate ignored technical levels and previously notable round exchange rates. It ended doing so on Wednesday, when the pair respected the support of the 50-hour simple moving average and the resistance of the 200-hour simple moving average. If the rate passes the support of the 50-hour SMA, the pair
The support zone at 1,778.60/1,782.70 held and caused a surge. By the middle of Tuesday's trading, the price for the commodity had broken the resistance of the 50 and 100-hour simple moving averages and the 1,800.00 mark. The target for the bullion appeared to be the resistance zone at 1,812.70/1,815.70 and the 200-hour simple moving average near 1,815.00. If the price
The approaching of the resistance of the 50-hour simple moving average from above caused a decline of the rate, which eventually passed the support of the 113.00 mark. At the start of the day's US trading hours, the rate was heading to the support of the weekly S1 simple pivot point at 112.50. Note that the 112.50 mark could act
The GBP/USD remains in the range between the resistance zone at 1.3364/1.3370 and the support zone at 1.3300/1.3380. Meanwhile, the 50 and 100-hour simple moving averages manage to have a short lived impact on the pair. At mid-day on Tuesday, the rate was testing the resistance zone. Future forecasts were based upon whether or not the zone holds. In general,
On Monday, the EUR/USD found support in the combination of the 1.1260 and the 50-hour simple moving average. The following surge passed the weekly simple pivot point at 1.1282 and the resistance zone at 1.1320/1.1333. By the start of Tuesday's US trading hours, the pair had almost reached the weekly R1 simple pivot point at 1.1378. If the pair reaches
First of all, take into account that the USD/CAD rate has revealed a support zone at 1.2720/1.2732. The support zone has been both keeping the rate from declining and providing support to surges. The pair has made two attempts to surge higher, which have been stopped by the resistance of the 1.2800 level. If the USD/CAD manages to break the
The GBP/JPY pair broke the descending triangle pattern by passing its upper trend line. However, the event did not result in a surge, as the pair traded sideways in an almost 50 base point range between 151.00 and 151.50. The sideways trading ended on Tuesday morning, as the 50-hour simple moving average approached the rate from above and caused a
As the AUD/USD currency pair continued to trade in the range between the support of 0.7110 mark and the 0.7148/0.7156 zone, it broke the channel down pattern's upper trend line. However, the event did not result in a surge, as the 0.7148/0.7156 zone provided enough resistance to the pair for a decline to start. By the start of Tuesday's European
As forecast, the EUR/JPY currency exchange rate reached the support of the 127.50 mark and the weekly S1 simple pivot point at 127.53. The 127.50 provided enough support for the pair to recover and break the channel down pattern. The recovery eventually ended at the weekly simple pivot point at 128.56, which caused a decline. On Tuesday morning, the currency