During Monday’s trading session, the 55-hour simple moving average supported the rate to end the trading session at 111.80. On Tuesday morning, the currency exchange rate was located at the 111.93 mark. In regards to the near-term future, most likely, the 55-hour simple moving average will continue to support the US Dollar to push the rate to trade sideways at...
During Monday’s trading session, the British Pound was supported by the 200-hour simple moving average to stay at 1.3180. On Tuesday morning, the currency exchange rate broke the support level of the 200-hour SMA to be located below the 50.00% Fibo at the 1.3155 mark. It is expected that the rate will be trading sideways between the 50.00% Fibo and the monthly...
During Monday’s trading session, the European Single Currency dropped below the technical indicators to 1.1300. During Tuesday’s morning, the currency exchange rate was trading sideways to be located at the 1.1326 mark. Note, the rate broke the previously drawn medium pattern! In regards to the near-term future, it is expected that the rate will decline towards...
The Brent crude oil prices have depreciated about 4.93% against the US Dollar during the last week. The pair breached the lower boundary of an ascending channel pattern at 64.63 on Tuesday. The BRENT.CMD/USD pair is currently trading near a resistance cluster formed by the weekly S1 and the 50-hour simple moving average at 66.58. If the commodity passes the...
The Light crude oil prices have depreciated about 4.66% against the US Dollar since last week. The pair reversed from a three-month high at 57.81 on February 22 and had since breached the 50-hour simple moving average at 56.18. The LIGHT.CMD/USD pair tested a resistance level formed by the 50-hour SMA at 56.18 during the morning hours of today’s trading session....
The common European currency has continued its decline in a descending channel pattern against the Canadian Dollar. The currency pair depreciated about 1.02% in values during the last week. Given that the 50-, 100– and 200-hour simple moving averages are located above the price level, it is likely that the decline could continue during this week’s trading...
A junior descending channel pattern guided the single European currency against the Australian Dollar during the past week. The currency pair tested the upper boundary of the channel pattern at 1.6024 during Friday’s trading session. The exchange rate was trading near the bottom border of a medium-term ascending channel pattern at 1.5866 during the morning hours...
The gold price is listening to the simple moving averages of the hourly chart. Namely, the 200-hour SMA is providing support and keeping the rate from falling lower. In the meantime the 55 and 100-hour SMAs are providing resistance. In general, the commodity price should get squeezed in between the simple moving averages. The 200-hour SMA will push higher...
The US Dollar has followed the technical patterns against the Japanese Yen. Namely, the pair has bounced off the upper trend line of a dominant pattern and passed below the support of a junior ascending channel. On Monday the rate was facing a strong resistance level a t the 110.70 level. There three SMAs together with a Fibonacci retracement level and the...
The GBP/USD pair is struggling to pass the resistance of the 1.3100 level. The round mark was providing a psychological resistance to the rates surge. If this level gets passed due to any reason then the pair should aim at the weekly R1, which is located at the 1.3149 level. It could occur, as the 55 and 100-hour simple moving averages approach the rate and push...
On Monday, the EUR/USD no longer had close by resistance levels on the hourly chart. Namely, the weekly pivot points had changed, and the closest by technical resistance was located at the 1.1380 mark. During the morning hours of the day's trading the pair was set to surge to the pivot point at 1.1380. It should occur by using the support of the 55 and 100-hourly...
The New Zealand Dollar appreciated about 95 base points against the US Dollar on Friday. The currency pair breached the 50-, 100– and 200-hour SMAs during Friday’s trading session. Monday’s trading session started with bullish sentiment, and by the middle of the European session, the exchange rate has breached the upper boundary of a downtrend line at 0.6878. As...
The US Dollar depreciated about 100 base points against the Canadian Dollar on Friday. The currency pair was pressured down by the 200-hour simple moving average during the previous session. Currently, the exchange rate is trading near the lower boundary of an ascending channel pattern at 1.3132 and could be set for a breakout. If this breakout occurs, it is...
The Australian Dollar appreciated about 68 base points against the US Dollar on Friday. The currency pair breached a resistance cluster formed by the weekly, the monthly PPs and the 100-hour simple moving average at 0.7134. Today’s session began with bullish sentiment, and by the middle of the trading session, the exchange rate has breached the upper boundary of a...
The common European currency has been trading in a horizontal channel against the Japanese Yen since February 20. The currency pair tested the bottom border of the channel during the morning hours of today’s trading session. Technical Indicators demonstrate flash buy signals on both the smaller and the larger time frames. Therefore, the EUR/JPY pair could edge...
The Ethereum cryptocurrency has appreciated about 20.52% in values against the US Dollar during the past week. The pair breached the 200-hour simple moving average at 123.4 during last Friday’s trading session. As for the near future, it is likely that the ETH/USD pair continues its upward journey and probably target the 150.00 area. Furthermore, technical...
The Bitcoin cryptocurrency has appreciated about 10.90% in values against the US Dollar during the last week. The pair breached both the 50-, 100– and 200-hour SMAs within this short period. The BTC/USD pair has formed an upside flag pattern. From a theoretical point of view, it is likely that the pair continues its upward movement within this session. Meanwhile,...
During Friday’s trading session, the yellow metal has been appreciating against the US Dollar to end the trading day at 1,321.12. On Monday morning, the gold was located at the 1,323.56 mark. In regards to the near-term future, most likely, the yellow metal will continue appreciating against the US Dollar to break the dominant pattern line at 1,326.22. On the...