During the previous trading session, the currency exchange rate was trading sideways at the 110.00 level as it was predicted. On Monday morning, the rate was resisted by the 55-hour SMA at the 110.59 mark. In regards to the near-term future, it is expected that the 55-hour simple moving average will support the rate to help it to break the resistance level of...
During the previous trading session, the British Pound has appreciated against the US Dollar to break through most of the technical indicators to end the trading session at 1.2901. On Monday morning, the rate was located between the monthly PP and the 200-hour SMA at the 1.2910 mark. Most likely, the support level of the 200-hour simple moving average will...
During Friday’s trading session, the European Single Currency was resisted by the 55-hour simple moving average to pass the support level of the weekly S1 at 1.1238. On Monday morning, the rate was trading between the 200-hour SMA and the monthly S1 at the 1.1305 mark. It is expected that the currency exchange rate will trade sideways between the 55-hour and the...
During the previous trading session, the yellow metal passed through the support level of the monthly pivot point at 1,308.46. On Tuesday morning, the gold took the support of the monthly PP to break the resistances of the 55-hour and the 100-hour simple moving averages to trade at the 1,312.80 mark. In regards to the near-term future, most likely, the yellow...
During the previous trading session, the rate was testing the weekly R2 at 110.51. During Wednesday’s midnight hours, the weekly R2 supported the currency exchange rate at the 110.70 mark. It is expected that the US Dollar will continue appreciating against the Japanese Yen to break the resistance of the 61.80% Fibonacci retracement level at 110.77. Moreover,...
The British Pound passed through the support of the 62.30% Fibonacci retracement level to depreciate against the US Dollar to the 1.2848 mark. It is expected that the currency exchange rate will break the support of the medium pattern line at the 1.2845 mark to decline towards the weekly S2 at 1.2718. Besides, the 55-hour simple moving average is trying to catch...
The European Single Currency passed through the support level of the dominant pattern line at 1.3106. Moreover, the rate passed through the other two technical indicators to trade at the the1.2600 mark. In regards to the near-term future, most likely, the European Single Currency will continue depreciating against the US Dollar to the weekly S2 at 1.1229....
The New Zealand Dollar has been trading in a horizontal channel pattern against the US Dollar. The currency pair tested the lower boundary of the channel pattern at 0.6733 on Friday. Technical indicators demonstrate that the currency exchange rate is likely to edge lower within this session. If this technical sentiment is correct, a breakout through the lower...
The Greenback depreciated by 91 base points against the Canadian Dollar on Friday. The exchange rate breached the 50-hour simple moving average at 1.3263 during Friday’s trading session. As for the near future, it is likely that the currency pair will continue to fall in the short-term. The possible downside target will be near the lower boundary of a junior...
A resistance level formed by a traditional monthly pivot point at 0.7105 restricted the Australian Dollar from making an upward movement against the US Dollar on Friday. If the exchange rate passes the monthly PP as mentioned above, the next target for bullish traders will be near a resistance cluster formed by the 100-hour simple moving average and the weekly...
The 50-hour simple moving average pulled down the Eurozone single currency against the Japanese Yen on Friday. The pair depreciated about 0.42% during Friday’s trading session. The currency pair started Monday’s trading session with an upside movement. By the middle of the day, the EUR/JPY pair has breached a resistance level at 124.94. As for the near future, it...
During Friday’s trading session, the yellow metal passed through the support level of the 55-hour simple moving average to the 1,314.00 mark. On Monday morning, the gold was depreciating against the US Dollar to pass through the support of the 100-hour simple moving average to 1,310.75. Most likely, the yellow metal will bounce off the monthly pivot point at...
During Friday’s trading session, the currency exchange rate broke through the resistance levels of the simple moving averages to end the trading day at 109.40. On Monday morning, the rate broke the 50.00% Fibonacci retracement level to trade at the 109.88 mark. In regards to the near-term future, most likely, the rate will break the descending dominant pattern...
During Friday’s trading session, the currency exchange rate was retraced by the 55-hour simple moving average to the 1.3060 level. On Monday morning, the British Pound kept depreciating against the US Dollar to the 1.3053 mark. Most likely, the currency exchange rate will be trading downwards to the bottom boundary of the medium pattern line at the 1.3030...
During Friday’s trading session, the currency exchange rate passed through the support level of the 55-hour simple moving average to end the trading session at 1.1453. On Monday morning, the rate was located between the 55-hour and the 100-hour SMAs at the 1.1445 mark. In regards to the near-term future, most likely, the European Single Currency will trade...
Upside risks prevailed in the market on Friday, thus sending the common European currency to gain about 65 base points against the Japanese Yen. The currency pair tested the upper boundary of an ascending channel pattern during the end of Friday’s trading session. However, after hitting the up border of the channel pattern at 125.00, the exchange rate made a...
The Australian Dollar has been moving in a one-week descending channel pattern against the US Dollar. The currency pair tested the upper boundary of the descending channel several times on Friday. The 50-hour simple moving average was providing resistance for the exchange rate at 0.7177 during the first half of Monday’s trading session. In case bears continue to...
The US Dollar has been trading in a two-week ascending channel against the Canadian Dollar. The currency pair re-tested the bottom border of the channel pattern during Friday’s trading session. The USD/CAD exchange rate breached both the 50– and 100-hour simple moving averages during the first half of today’s trading session. Given that the currency exchange rate...