The Pound Sterling rose by 2.42% against the Aussie Dollar. The exchange rate broke a critical resistance level at 1.8000 on May 10th. Right now, the currency pair is testing the monthly R1 resistance level and could be set for a breakout. If the breakout happens, a wave towards the psychological resistance level at 1.8500 could be assumed this week. Nevertheless,...
The Euro rose by 1.83% versus the Kiwi within last week's trading sessions. The currency pair broke the 200– period SMA and the monthly pivot point past week. After breaking the 4-hour ascending triangle pattern this week, the exchange rate could extend its wave higher during the following trading sessions and put the bulls in charge if the price also breaks the...
The Euro has decreased by 1.74% against the Loonie since the start of this month.On the daily time frame we can see that price is trending bearish in a descending channel pattern. On the 4-hour time frame the price also made a descending channel pattern which pressed the pair lower last week. The currency pair rejected the monthly S1 support level during Friday's...
The dollar index, which ranks the US Dollar against the major currencies, rejected the support at the 90.00 level. Because of that, the exchange rate has risen by 1.06% during these trading sessions. Right now, the dollar index is trading near the upper boundary line of a falling wedge and could set for a breakout, depending on the US retail sales numbers. If the...
Bullish traders have extended to push the USD/JPY currency pair higher this week. The US Dollar has surged by 2.15% against the Japanese Yen since April 23rd. Everything being equal, the USD/JPY exchange rate broke out of the falling wedge pattern and may continue to trend bullish during the following trading sessions, yet we expect a pullback to the monthly pivot...
