During Friday’s trading session, the currency exchange pair was trading sideways to end the trading day at the 113.16 mark. On Monday morning, the US Dollar was trading at the 113.27 mark.
In regards to the near-term future, most likely, the US Dollar will trade towards the 113.40 level during the day. None of the technical indicators could prevent the rate from the surge. Besides, the 55-hour and the 100-hour SMAs will try to catch up the rate during the trading session to give additional support for the surge.
On the other side, the rate could trade towards the bottom boundary of the ascending medium channel at 113.10 if the US Dollar will depreciate during the day.
In regards to the near-term future, most likely, the US Dollar will trade towards the 113.40 level during the day. None of the technical indicators could prevent the rate from the surge. Besides, the 55-hour and the 100-hour SMAs will try to catch up the rate during the trading session to give additional support for the surge.
On the other side, the rate could trade towards the bottom boundary of the ascending medium channel at 113.10 if the US Dollar will depreciate during the day.
Comment:
During Tuesday’s trading session, the currency exchange pair passed through the medium ascending pattern line to end the trading session at the 112.97 mark. On Wednesday morning, the US Dollar reached the resistance of the weekly R1 at 113.81 but was retraced to the 113.15 mark.
In regards to the near-term future, most likely, the US Dollar will be supported by the 100-hour SMA to break the resistance of the 55-hour SMA at 113.27 to surge upwards towards the 113.40 level during Wednesday’s trading session.
On the other side, the 55-hour SMA could resist the currency exchange pair to decline the rate to trade near the monthly pivot point at 112.96 mark.
During Tuesday’s trading session, the currency exchange pair passed through the medium ascending pattern line to end the trading session at the 112.97 mark. On Wednesday morning, the US Dollar reached the resistance of the weekly R1 at 113.81 but was retraced to the 113.15 mark.
In regards to the near-term future, most likely, the US Dollar will be supported by the 100-hour SMA to break the resistance of the 55-hour SMA at 113.27 to surge upwards towards the 113.40 level during Wednesday’s trading session.
On the other side, the 55-hour SMA could resist the currency exchange pair to decline the rate to trade near the monthly pivot point at 112.96 mark.
Comment:
During Wednesday’s trading session, the currency exchange pair surged to the 113.40 level to end the trading session at the 113.54 mark. On Thursday morning, the US Dollar was located near the weekly R1 at the 113.69 mark.
In regards to the near-term future, most likely, the US Dollar will surge towards the 114.00 level breaking the resistance of the weekly R1 at the 113.81 mark. It is expected that the surge will be followed during the US Federal Funds Rate release at 19:00 GMT on Thursday.
On the other hand, the weekly R1 at the 113.81 mark could resist the rate to push the US Dollar to depreciate to the 113.60 level during the trading session.
During Wednesday’s trading session, the currency exchange pair surged to the 113.40 level to end the trading session at the 113.54 mark. On Thursday morning, the US Dollar was located near the weekly R1 at the 113.69 mark.
In regards to the near-term future, most likely, the US Dollar will surge towards the 114.00 level breaking the resistance of the weekly R1 at the 113.81 mark. It is expected that the surge will be followed during the US Federal Funds Rate release at 19:00 GMT on Thursday.
On the other hand, the weekly R1 at the 113.81 mark could resist the rate to push the US Dollar to depreciate to the 113.60 level during the trading session.
During Monday’s trading session, the currency exchange pair was moving near the medium ascending pattern line to end the trading session at the 113.23 mark. On Tuesday morning, the US Dollar was keep trading near the medium pattern line at the 113.42 mark.
In regards to the near-term future, most likely, the US Dollar will keep appreciating against the Japanese Yen to push the rate to surge towards the weekly R1 at the 113.81 mark.
On the other side, the US Dollar could depreciate against the Japanese Yen during today’s US Congressional Elections to pass through the support of the pattern line.