The decline of the EUR/JPY passed the support zone that is located at 131.48/131.62. The rate continued to decline until it reached the 131.02 level. Due to that reason it is assumed that the 131.00 mark might act as resistance. Meanwhile, on Friday morning, the currency exchange rate was testing the resistance of the previously passed 131.48/131.62 zone. The near
The 1,760.00 support zone held and caused a recovery of the price of gold. The recovery occurred with a consolidating minor decline during the Thursday's Asian trading. However, at mid-day in Europe a sharp surge of the metal started. By 13:00 GMT, the yellow metal had recovered almost 2.00% from the Wednesday's low level. In the case of a continuation of
At mid-day on Thursday, the USD/JPY currency exchange rate passed five technical support levels. Namely, the 50, 100 and 200-hour simple moving averages, the weekly simple pivot point and the lower trend line of this week's channel up pattern failed to hold the pair up. Only the 50-hour SMA and the lower trend line of the channel pattern managed to
On November 4, the Bank of England announced its future monetary policy. In general, the bank decided to keep monetary policy unchanged. On the announcement, at 12:00 GMT, the GBP/USD started a decline. During the fifteen minutes following the release the rate had declined by 86 base points or 0.63%. On the technical hourly candle chart, the rate passed this week's
On Wednesday, the EUR/USD passed the resistance of the hourly simple moving averages. However, the rate encountered resistance in the 1.1616/1.1625 zone, which had previously impacted the rate throughout October. At midnight to Thursday, the pair started to plummets. By the middle of the day's European trading hours, the EUR/USD had declined by more than 70 base points. In the
On Wednesday, at 18:00 GMT, the US Federal Reserve revealed the central bank's future monetary policy. The event caused volatility, which passed the support of the recent low level connecting trend line. However, the pair found support in the 200-hour simple moving average near 1.2380. The SMA provided enough support for a recovery to start. On Thursday morning, the currency exchange
The GBP/JPY currency exchange rate's recovery found resistance in the 200-hour simple moving average near 156.20. On Thursday morning, the rate declined and reached the support of the 50-hour simple moving average near 155.40. A passing of the support of the 50-hour SMA could result in the rate looking for support in the weekly S1 simple pivot point at 155.19.
At midnight to Thursday, the AUD/USD bounced off the resistance of the weekly S1 simple pivot point at 0.7469. By the start of the day's European trading, the rate had retreated to the weekly S2 simple pivot point at 0.7419. Previously, the rate pierced the pivot point. However, it found support in the 0.7412 level. Due to that reason the
At GMT midnight to Thursday, the EUR/JPY currency exchange rate bounced off the 132.56 level and began a decline. The decline gradually became sharper, as eventually the rate lost 95 base points. On Thursday morning, the rate ended the decline,as it found support in the 131.48/131.62 zone. If the support zone causes a recovery of the rate, it could aim
6 At 12:30 GMT, on Wednesday, the yellow metal's price started a drop, which lasted two hours, and gold lost 1.50% against the US Dollar. The move could be attributed to the publication of good US employment data. Namely, the ADP Non-Farm Employment Change was released at 517,000 instead of the forecast 400,000. However, the data was released at 12:15 GMT
On Wednesday, the USD/JPY passed the resistance of the three hourly simple moving averages and the 114.00 mark. In addition, by connecting recent high and low levels a channel up pattern was spotted on the hourly candle chart. If the currency exchange rate continues to surge, it could eventually reach the resistance of the high level zone at 114.42/114.47 and the
At mid-day on Tuesday, the GBP/USD passed the support of the weekly S1 simple pivot point and the lower trend line of the channel down pattern. However, the event did not result in the expected decline to the weekly S2 simple pivot point or the 1.3600 mark. Instead, the rate started a minor recovery at the 1.3606 level. By the
Since the middle of Tuesday's trading, the EUR/USD bounced around the 50-hour simple moving average and the 1.1585/1.1588 zone. In the meantime an attempt to surge was stopped by the 1.1600 mark and the weekly simple pivot point at 1.1697. On Wednesday, it appeared that the rate could trade sideways until it is approached by the resistance of the
At mid-day on Wednesday, the USD/CAD broke the resistance of the 1.2429/1.2434 zone and the weekly R1 simple pivot point at 1.2443. If the rate continues to surge, it could eventually encounter resistance in the 1.2496/1.2507 zone. The resistance zone consists of a early October high level, the weekly R2 simple pivot point at 1.2502 and the 1.2500 mark. A potential decline
Despite passing the support line of the channel down pattern on Tuesday, the GBP/JPY currency exchange rate did not decline. Instead, the pair traded sideways above the 155.00 level, before starting a surge at mid-day on Wednesday. At mid-day on Wednesday, the rate had reached the resistance zone at 155.75/155.90. The zone had impacted the rate on October 14, as a
The recovery of the AUD/USD ended at the 0.7450 level. By the middle of Wednesday's European trading hours, the rate had reached the support of the 0.7419 level, where the weekly S2 simple pivot point was located at. If the rate passes the support of the weekly S2 simple pivot point at 0.7419, the AUD/USD would most likely reach for
Despite piercing the support zone of the last week's low levels, the EUR/JPY recovered to the resistance of the 50-hour simple moving average near 132.00 . The 50-hour SMA kept the rate down since the middle of Tuesday up to Wednesday's US open at 13:30 GMT. At the start of Wednesday's US trading hours, the EUR/JPY surged past the
The resistance of the 55, 100 and 200-hour simple moving averages failed to keep the metal's price down. The bullion pierced the SMAs. However, it did not result in a follow up surge, as the 1,796.00/1,797.00 zone provided resistance. Since the middle of Monday's trading hours, the price has been fluctuating between the support of the 55-hour simple moving average
The USD/JPY began a recovery on Tuesday morning prior to reaching the support zone at 113.25/113.44. By the start of the day's US trading hours at 13:30 GMT, the pair had reached and was testing resistance near 113.80. Namely, the 100 and 200-hour simple moving averages and the weekly simple pivot point were providing resistance from 113.80 to 113.88. A passing
The GBP/USD pair's decline reached the support of the weekly S1 simple pivot point at 1.3628 on Tuesday morning. The pivot point provided enough support for a recovery. In the meantime, a minor channel down pattern appears to have been capturing the rate's recent decline. A potential surge of the pair would most likely face the resistance of the upper trend
The recovery of the EUR/USD has reached the resistance of the technical levels that are spread out from 1.1597 to 1.1616. At mid-day on Tuesday, the rate was finding resistance in the 100-hour simple moving average at 1.1610. If the EUR/USD passes the resistance of the 100-hour SMA, it would immediately face the resistance of the 200-hour SMA at 1.1616.
On Monday, the resistance of the 1.2400 held and caused a decline of the USD/CAD. However, during the mid-day hours of the day the rate found support in the ascending trend line of the October 27 and 29 low levels. The trend line provided enough support for a follow up surge to pass the 1.2400 mark. If the surge of USD/CAD
On Tuesday morning, the GBP/JPY currency exchange rate passed below the lower trend line of the channel down pattern, which guided the rate throughout the second part of October. If the breaking of the pattern would be followed up by a decline, the rate could look for support in the 154.50 level and the weekly S2 simple pivot point at 154.41. However,
On November 2, the Reserve Bank of Australia published its Rate Statement. On the announcement, at 03:30 GMT, the AUD/USD increased volatility by bouncing around in a 28 pip range before declining 34 base points. During the seven hours following the announcement, the rate had already lost 64 base points. At mid-day on Tuesday, the currency exchange rate's decline had paused