The European Single Currency broke the small pattern line at the 1.1309 mark. On Thursday, the rate continues depreciating towards the weekly S2 at 1.1229 Most likely, the EUR/USD will meet 61.80% Fibonacci retracement level at the end of the trading week. Latest Fundamental Event The European Single Currency appreciated against the US Dollar, following the US FOMC Meeting Minutes release the
During Wednesday morning hours, the gold was supported by the 55-hour and the 100-hour simple moving averages at the 1,310.40 mark. In general, the rate was expected to surge up to a combination of resistance lines at 1,316.00. Economic Calendar Analysis This week will be busy for macroeconomic data releases. With the exception of Tuesday, on each day there is a notable
The USD/JPY passed the resistance level of the weekly R2 at the 110.516 mark to surge towards the 61.80% Fibonacci retracement level. In general, the surge could continue as high as the 110.80 level, if it resumes. On the other hand the pair might retrace back down to the support levels near the 110.15 level. Latest Fundamental Event The Bureau of Labor Statistics
On Wednesday morning, the GBP/USD trades between the 55-hour and the 100-hour simple moving averages at the 1.2880 level. In regards to the future, the pair was facing a strong support cluster. If the support gets passed, the rate would decline as low as 1.2720. Latest Fundamental Event The British Pound depreciated against the US Dollar, following the UK BOE Official Bank Rate
The European Single Currency appreciated against the US Dollar to break the resistance levels of the monthly S1 and the bottom boundary of the dominant pattern line. However, it is expected that the rate will continue its depreciation. Latest Fundamental Event The European Single Currency appreciated against the US Dollar, following the US FOMC Meeting Minutes release the previous Wednesday at 19:00 GMT.
The yellow metal continued to trade with high volatility. However, it can be seen that the commodity price has revealed new patterns. In general, the rate was expected to surge up to a combination of resistance lines at 1,316.00. Economic Calendar Analysis This week will be busy for macroeconomic data releases. With the exception of Tuesday, on each day there is a notable
The target of the 110.50 has been reached. The USD/JPY had reached far above the 110.50 mark before stopping and consolidating its gains. In general, the surge could continue as high as the 110.80 level, if it resumes. On the other hand the pair might retrace back down to the support levels near the 110.15 level. Latest Fundamental Event The Bureau of Labor
The previous low target of the GBP/USD has been reached. Moreover, the pair had reached 30 pips below the previously set target by touching the 1.2830 mark. In regards to the future, the pair was facing a strong support cluster. If the support gets passed, the rate would decline as low as 1.2720. Latest Fundamental Event The British Pound depreciated against the US
The support of the dominant pattern and the monthly pivot point at 1.1300 was passed. The move has resulted in a drop downwards. In general, for the future it is expected that the pair will continue its descent in the future. Latest Fundamental Event The European Single Currency appreciated against the US Dollar, following the US FOMC Meeting Minutes release the previous Wednesday
On Monday the yellow metal's price declined down below all notable support levels on the hourly chart. The move was unexpected from a technical analysis perspective, as the pair had surged above many resistance levels, signalling a surge and triggering the stop losses of short positions. Economic Calendar Analysis This week will be busy for macroeconomic data releases. With the exception of Tuesday,
The USD/JPY was jumping on Monday. The rate had finally managed to pass the resistance of the 110.00 level. By the middle of the day's trading it could be observed that the rate was heading for the 110.50 level, where starting from Monday the weekly R2 of the simple pivot points was located at. Latest Fundamental Event The Bureau of Labor Statistics released
The GBP/USD started the week by trading near the resistance of a monthly pivot at 1.2925. Meanwhile, the currency exchange rate had no technical support as low as the 1.2865 level. Although, by the middle of the day's trading session it was spotted that the 1.2900 level was providing a psychological support to the currency exchange rate. Latest Fundamental Event The Federal Reserve
On Monday, the EUR/USD was testing the support of the lower trend line of a dominant ascending pattern. The trend line has to be watched to see, what will be the future of the pair. In general, it can either decline below the support and continued lower or rebound to resume its surge upwards. Latest Fundamental Event The European Single Currency appreciated against
On Friday morning the yellow metal was testing the resistance of various technical levels. If it break them, a surge up to the 1,320.00 levels could occur. Meanwhile, a new ascending pattern has been added to the daily chart. Economic Calendar Analysis The Canadian Employment data release will occur today at 13:30 GMT. Meanwhile, take into account that at 09:30 GMT on Monday the
The USD/JPY has failed to pass the 110.00 mark for a week now. It continues to trade between 109.60 and 110.00. However, a move up is still expected. The reason for the possible surge still upwards is technical. Namely, the support of the 200-hour simple moving average is approaching the currency exchange rate from the downside. Latest Fundamental Event The Bureau of
Unsurprisingly the GBP/USD has made another sudden jump upwards before continuing to decline. This time just after the decline caused by the Bank of England the rate began to surge. Our analysts looked into the news feeds at the time and it was found out that there were news that were considered positive in regards to the Brexit deals. Namely, Theresa May
The pair reached the support of the 1.1330 level, where a pivot point is located, as forecast. Although, the price action after the event might have triggered stop losses of short positions, as the rate retraced back up more than thirty pips. Latest Fundamental Event The European Single Currency appreciated against the US Dollar, following the US FOMC Meeting Minutes release
Gold prices have increased volatility on Thursday by suddenly dropping and then getting back up. However, that is not the most important thing to note on the charts. The metal has revealed a descending pattern channel. The fluctuations occurred exactly in its borders. This signals that a decline is set to occur in the medium term. Economic Calendar Analysis The only notable event
After finding additional support the USD/JPY making more attempts to pass the 110.00 level. In general, we expect that the 110.00 mark will be broken. Above the 110.00 level there are no resistance levels as high as the 110.50 level. Latest Fundamental Event The Bureau of Labor Statistics released Non-Farm Employment Change data better-than-expected of 304K compared to forecast 165K. Note, that the
As the 55-hour SMA approached the rate from the upside, the support levels near 1.2920 were passed. The rate is continuing to move downwards. The next target for the decline is the 62.30% Fibonacci retracement level at the 1.2865 level. Meanwhile, note that the rate might wait up for the 55-hour simple moving average to catch up and continue to push the
The decline of EUR/USD continues. As the short positions of Swiss Traders have been intact, the traders have continued to profit. During the early hours of Thursday's trading the pair was aiming at the 1.1330 level, where the weekly S2 was located at. Latest Fundamental Event The European Single Currency appreciated against the US Dollar, following the US FOMC Meeting Minutes release the
On Wednesday gold prices remained in the previous range. It traded between 1,310.00 and 1,315.00 levels. In general, the previous forecast remains in force. Although, note that the 200-hour simple moving average has approached the commodity from below. Economic Calendar Analysis The price of gold is unlikely going to be influenced by macroeconomic data releases this week. However, traders might take advantage of
The USD/JPY has dropped below the 55-hour SMA after numerous failed attempts to pass the 110.00 level. The retreat of the pair was stopped by the middle of Wednesday's trading by the 50.00% Fibonacci retracement level at 109.60. The pair has two possible scenarios for the future that revolve around the 55, 100 and 200-hour simple moving averages. Latest Fundamental Event The Bureau of
The GBP/USD has reached even lower than previously expected. Instead of touching the 1.2945 mark, the currency rate has reached as low as the monthly pivot point at 1.2925. The decline occurred in a sharp drop during a period of a couple of hours. Meanwhile, by the middle of Wednesday's trading the pair was signalling that it might recover back up to