Another target has been reached by the decline of the EUR/USD. Dukascopy traders have been shorting the decline and profiting. Although the piercing of the support levels near the 1.1400 mark is signalling a further decline, the likelihood that it will continues is decreasing. Namely, the probability of a longer than usual decline is decreasing as the moving downwards continues. Latest Fundamental
The yellow metal's price was fluctuating in a five dollar range on Tuesday. It attempted to recover, but was quickly forced downwards by the 55 and 100-hour simple moving averages. The simple moving averages are the main guide from a technical perspective at the moment. Economic Calendar Analysis The price of gold is unlikely going to be influenced by macroeconomic data releases this
The 110.00 mark was reached by USD/JPY as expected. Although, after piercing the resistance at 110.00 it failed to gain more. The rate reached slightly above the 110.15 mark and retraced back down below the 110.00 level. In general, it can be observed that the pair is trading sideways and consolidating its gains after the 250 pip surge since Friday. Latest Fundamental
The GBP/USD has reached the target set yesterday. However, there is an issue. As the GBP has already done in the recent history, the rate suddenly increased volatility to the opposite side by jumping in this case before reaching the target. Meanwhile, on Tuesday it was observable that the rate has no technical support as low as the 1.2945 level. That level
The EUR/USD has declined, as the most likely scenario suggested yesterday. Namely, the support levels at 1.1420 has been reached. Next target for a decline is the weekly S1 at the 1.1395 level. Although, note that the 1.1400 level might provide psychological support. Market participants tend to do deals near round levels of currency exchange rates. Latest Fundamental Event The European Single Currency
On Monday, the yellow metal was retreating down to face support levels near the 1308.00 level. Meanwhile, note that the recent decline is occurring as a consolidation of previous gains. Economic Calendar Analysis There are various minor data releases scheduled for this week, which are unlikely going to influence the financial markets. However, there is one event that is set to take
On Monday, the USD/JPY currency exchange rate was aiming to reach the 110.00 level. Meanwhile, take into account that, if the pair passes the 110.00 level it will face a technical resistance level near the 110.20 mark. Latest Fundamental Event The Bureau of Labor Statistics released US PPI data lower-than-expected of negative 0.2% compared with forecasted 0.01%. Note, that the US Core PPI
On Monday, the GBP/USD was declining. It faced no technical support as low as the 1.3020 mark. Moreover, the pair was set to be pushed lower the three simple moving averages that are used in technical analysis by Dukascopy Analytics. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Average Earnings Index and Unemployment Rate release on
On Monday, the common European currency traded between two levels of technical analysis between 1.1435 and 1.1455. As the rate broke a previously described ascending channel pattern, a decline further is highly likely. Namely, if the level at 1.1435 is passed, the rate could drop as low as 1.1420. Latest Fundamental Event The European Single Currency appreciated against the US Dollar, following the
After touching the low levels below the 1,280.00 mark gold has retraced back up to the resistance of a descending channel pattern. Main attention is set on this lone trend line at the 1,285.00 level and the approaching resistance of the 200-hour simple moving average, which during the middle of the day was located at the 1,286.00 level. Latest Notable Fundamental Event The
The surge of the USD/JPY is set to once more test the resistance of the 110.00 level. Besides the fact that this level has proven itself as a psychological resistance, there are no other obstacles to the USD/JPY to reach the 110.50 mark. Meanwhile take into account that the rate is supported by the 55 and 100-hour simple moving averages near
The resistance of a dominant pattern and the 200-day simple moving average has been broken. The rate is surging higher. Namely, on Friday, the 1.3150 level was almost touched. In general, the pair was still mostly guided by various fundamental Brexit announcements. Note that there will be a follow up article to the previous Brexit articles. There was no publication immediately after
The EUR/USD is trading with high volatility on Thursday and Friday. During the period of high volatility the pair has broken the lower trend line of a dominant ascending pattern on the hourly chart. Meanwhile, a full review of the daily chart has been conducted, as the lower trend line of a previously hypothetical and kept secret pattern at Dukascopy Analytics
On Thursday, gold prices had clearly passed the support of a long term ascending pattern. It is signalling that the metal's price will decline. If the daily chart gets looked at, it can be observed that the commodity price has no support, as low as the monthly P Latest Notable Fundamental Event The Federal Reserve releases US FOMC Meeting Minutes where fed officials
In general, the pair is still heading higher as stated before. Meanwhile, note that the hourly chart has been fully reviewed. The reason for that is the breaking of various descending patterns. Latest Fundamental Event The Bureau of Labor Statistics released US PPI data lower-than-expected of negative 0.2% compared with forecasted 0.01%. Note, that the US Core PPI was released at the same
The GBP/USD has extended its surge to the 1.3100 level. Moreover, technical charts indicated that, if the rate passes the 1.3100 level, it would reach for 1.3180. Namely, the rate would pass the resistance of a dominant pattern and the 200-day simple moving average. Afterwards it would reach for the weekly R2 at 1.3180. Read More: Dukascopy Analytics Articles Latest Fundamental Event The British
The EUR/USD has highly increased its volatility, as the rate has traded in a range of more than fifty base points during the last 24 hours. In general the rate made an attempt to approach the 1.1400 level and retreated back down to the support of a dominant ascending pattern near the 1.1340 level after failing to reach the 1.1400 level. Latest
Although the metal has not gained much, the surge of gold prices continued to surge. In general, there were no large signs indicating that the surge will stop. Both the technical and fundamental situation was indicating that a surge of the gold prices will continue and next reach for the 200-hour SMA at 1,288.40. Latest Notable Fundamental Event The Federal Reserve releases US
The forecast of the larger scale is proving to be correct. The rate has broken the short term resistance levels, signalling that it will head higher. Namely, watch the pivot points, round psychological levels, as the rate is set to surge up Latest Fundamental Event The Bureau of Labor Statistics released US PPI data lower-than-expected of negative 0.2% compared with forecasted 0.01%. Note,
On Wednesday morning the GBP/USD had retraced back up to the resistance line near the 1.3000 level. This surge exceeded the expectations of Dukascopy Analytics. In general, one should watch the 1.3000 level. If the rate surges above it, the 1.3030 will be aimed at. On the other hand a descent back down to 1.2910 might occur. Read More: Dukascopy Analytics
On Wednesday morning the EUR/USD had stopped its decline and surged back up to the levels above the 1.1350 mark. Although, the pair already on Tuesday reached the previously set target of the zone below the 1.1340. Namely, it touched it during the second half of Tuesday's trading and immediately began a surge, which reached as high as 1.1375. Latest Fundamental Event The
After meeting a lower trend line of an ascending pattern for the second time, gold jumped on Tuesday. The surge paused only at the 1,285.00 level. In general, the metal's price was expected to continue the surge. Latest Notable Fundamental Event The Federal Reserve releases US FOMC Meeting Minutes where fed officials provide in-depth insights into the economic and financial conditions that influenced
On Tuesday, the USD/JPY traded sideways between the 109.40 and 109.50 levels. Although, the range was increasing by the middle of the day. For guidance of the future direction of the rate take into account that there is a strong technical resistance cluster at the 109.60 level and a solo support at 109.30. Latest Fundamental Event The Bureau of Labor Statistics released US
On Tuesday morning the GBP/USD was making attempt to surge above a resistance level near the 1.2910 mark. If that level would be broken, the rate could surge, in accordance with the technical charts, as high as the 1.2980 level. Read More: Dukascopy Analytics Articles Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data released on