During Monday’s trading session, the currency exchange rate depreciated 28 pips or 0.25% to end the trading session at the 112.43 mark. On Tuesday morning, the US Dollar was piercing the bottom boundary of the dominant ascending pattern to trade at the 112.41 mark.
In regards to the near-term future, most likely, the US Dollar will depreciate towards the 50.00% Fibonacci retracement level at the 112.16 level during the day.
On the other side, the dominant pattern line at the 112.40 could retrace the rate to trade sideways at the 112.40 level.
In regards to the near-term future, most likely, the US Dollar will depreciate towards the 50.00% Fibonacci retracement level at the 112.16 level during the day.
On the other side, the dominant pattern line at the 112.40 could retrace the rate to trade sideways at the 112.40 level.
Comment:
During Wednesday’s trading session, the currency exchange rate was trading between the monthly PP and the weekly PP to end the trading session at the 113.01 mark. During Thursday morning hours, the US Dollar was trading near the monthly PP at the 112.96 mark.
In regards to the near-term future, most likely, the US Dollar will keep trading sideways between the monthly PP at 112.96 and the weekly PP at 113.23. The 55-hour simple moving average will support the rate during the trading session.
On the other side, the rate could be resisted by the monthly PP at 112.96 to move downwards to trade at the 112.80 level.
During Wednesday’s trading session, the currency exchange rate was trading between the monthly PP and the weekly PP to end the trading session at the 113.01 mark. During Thursday morning hours, the US Dollar was trading near the monthly PP at the 112.96 mark.
In regards to the near-term future, most likely, the US Dollar will keep trading sideways between the monthly PP at 112.96 and the weekly PP at 113.23. The 55-hour simple moving average will support the rate during the trading session.
On the other side, the rate could be resisted by the monthly PP at 112.96 to move downwards to trade at the 112.80 level.
Comment:
During Thursday’s trading session, the currency exchange rate was testing the monthly pivot point at 112.96 to end the trading session at the 112.96 mark. During Friday morning hours, the US Dollar was supported by the 100-hour simple moving average to trade at the 112.81 mark.
In regards to the near-term future, the US Dollar will move downwards to meet the large ascending pattern line at the 112.72 mark. Afterwards, most likely, the US Dollar will trade sideways to stay at the 112.60 level during the trading session.
However, the US Dollar could pass through the supports of the large ascending pattern line and the 61.80 % Fibo at 112.72 to move downwards to trade at 112.40.
During Thursday’s trading session, the currency exchange rate was testing the monthly pivot point at 112.96 to end the trading session at the 112.96 mark. During Friday morning hours, the US Dollar was supported by the 100-hour simple moving average to trade at the 112.81 mark.
In regards to the near-term future, the US Dollar will move downwards to meet the large ascending pattern line at the 112.72 mark. Afterwards, most likely, the US Dollar will trade sideways to stay at the 112.60 level during the trading session.
However, the US Dollar could pass through the supports of the large ascending pattern line and the 61.80 % Fibo at 112.72 to move downwards to trade at 112.40.
During Tuesday’s trading session, the currency exchange rate broke the resistance of the 61.80% Fibonacci retracement level to end the trading session at the 112.70 mark. During Wednesday morning hours, the US Dollar was located between the 55-hour and the 200-hour simple moving averages to trade at the 112.87 mark.
In regards to the near-term future, most likely, the US Dollar will be resisted by the monthly pivot point at the 112.96 mark to trade downwards at the 112.40 level during the trading session on Wednesday.
On the other side, the rate could break the resistances of the 200-hour SMA and the monthly PP at 112.96 to trade near the weekly pivot point at the 113.00 level.