On Friday, the EUR/USD was charted in an ascending channel pattern.
Initially, as the US hiked their interest rates on the USD, gold prices dropped dwon to the 1,242.00 level.
The decline of the USD/JPY is taking place because of the US Federal Reserve.
By the middle of the day the GBP/USD was surging due to USD weakness caused by the Federal Reserve.
By the time of creation of this analysis the EUR/USD had jumped on Thursday morning and reached above resistance levels at the 1.1480 mark.
The yellow metal remains in the borders of an ascending pattern.
As the USD/JPY was awaiting the FOMC rate hike, the currency pair continued to decline.
The volatility of the GBP/USD is still high. During the recent swing upwards the rate reached to the 1.2700 level, from which it bounced off.
The rate has reached the previously set target of 1.1410.
On Tuesday the yellow metal's price was testing the resistance provided by the 1,250.00 mark.
The USD/JPY is declining as expected. Although, the fall of the pair is much larger that it could have been forecast.
The previous squeeze of the GBP/USD has ended with a surge upwards.
The recovery of the EUR/USD continued on Tuesday. During the surge the rate passed a strong resistance cluster at 1.1340.
The medium scale pattern of the daily chart is holding its ground. Namely, it forced the metal into a rebound on Friday.
After reaching the 113.50 mark the USD/JPY began a decline , which by the middle of Monday's trading had passed all close by support levels.
The GBP/USD started the week calmly, as the rate traded near the 1.26 mark.
The decline of the EUR/USD lasted until it touched the 1.1270 level. Afterwards a recovery began which had reached the 1.1320 level on Monday.
The gold charts were reviewed on Friday. Although, the junior pattern was broken a couple of hours after the review.
The short version of everything below is - if the pair breaks the resistance at 113.60-113.70, it is highly likely going to surge up to the 114.40 mark.
Although the GBP/USD has been ignoring most technical levels, the 200-hour SMA has been taken into account, as it has caused a decline of the pair.
Due to a combination of Fundamental information and Technical Analysis resistance levels the EUR/USD plummeted down below the 1.1300 mark on Friday.
The recent surge failed to pass the 1,250.00 level.
USD/JPY has resumed its surge and reached above the 113.40 level.
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