During Monday morning hours, the currency exchange rate was resisted by the 200-hour simple moving average to stay at the 108.15 mark. In regards to the near-term future, most likely, the rate will be trading sideways between the monthly S1 at 108.17 and the weekly S1 at 107.86. The resistance levels of the monthly S1 and the 55-hour simple moving average will...
During Monday morning hours, the 62.20% Fibonacci retracement level at 1.2867 retraced the rate to the 1.2835 mark. In regards to the near-term future, most likely, that the British Pound will get appreciated against the US Dollar to break the resistance level of the 62.20% Fibo to trade at the 1.2900 level. Moreover, the 55-hour and the 100-hour SMAs will...
During the previous trading session, the European Single Currency was depreciated against the US Dollar to the 1,1462 mark. On Monday morning, the currency exchange rate was supported by the 200-hour simple moving average to trade slightly below the weekly PP at 1.1479. Most likely, the 200-hour SMA and the 50.00% Fibo will support the European Single Currency to...
The ETH/USD pair has been trading in an ascending channel pattern since the middle of December. The Ethereum cryptocurrency breached the upper boundary of a dominant descending channel at 150.5 on January 4. Given that a breakout had occurred, it is likely that the blockchain will continue moving north towards a resistance cluster formed by the combination of the...
The Bitcoin cryptocurrency has been trading in an ascending channel pattern against the US Dollar since the middle of December when the pair bounced off its bottom border at 3186.9. The BTC/USD pair breached the three SMAs at 3826.2 during the previous trading session. Given that the 50-, 100-, and 200-hour simple moving averages are point north, it is possible...
The Great British Pound has been depreciating in an ascending channel pattern against the Canadian Dollar since the end of December. This decline began after the currency pair reversed from a psychological resistance level at 1.7500 on December 31. When looking at the positioning of the exchange rate, it is likely that the decline will continue during the...
The 23.00% Fibonacci retracement level at the 1,295.57 mark retraced the yellow metal during the morning hours on Monday. It is expected that the 23.60% Fibonacci retracement level will keep retracing the gold during the trading session on Monday. Most likely, the yellow metal will be trading sideways to stay at the 1,285.00 level for the rest of the day....
During the previous trading session on Friday, the US Dollar returned to trade at the previously drawn pattern. On Monday morning, the rate was trading between the 100-hour and the 55-hour simple moving averages at the 108.22 mark. The resistance levels of the 100-hour simple moving average and the 38.20% Fibonacci retracement level should push the US Dollar to...
The British Pound recovered itself to trade at 1.2750 level during the morning hours on Monday. The high volatility helped the rate to break the resistance level of the monthly pivot point to push the rate to trade towards the upper boundary of the dominant pattern line at the 1.2800 level. Most likely, the currency exchange rate will reach the dominant pattern...
The European Single Currency was supported by the 200-hour simple moving average together with the monthly pivot point at the 1.1408 level during the morning hours of the second Monday of 2019. The currency exchange pair continues recovering from the dramatic drop of 187 pips or 1.62% which hurt the rate during the first week of 2019. It seems that the rate will...
The common European currency has been trading in a narrow ascending channel pattern against the Australian Dollar. This increase in price range started after the currency pair reversed from the lower boundary of a long-term ascending channel at 1.5400 on December 3. The EUR/AUD exchange rate breached a resistance level formed by the weekly R2 at 1.6180 during the...
The EUR/CAD currency pair has been moving in a junior ascending channel since the beginning of December after the rate reversed from the bottom border of a medium-term ascending channel pattern at 1.4965. The exchange rate was trading near the upper boundary of the junior ascending channel pattern at 1.5519 during the morning hours of Wednesday’s trading...
The GBP/AUD exchange rate has been trading in a junior ascending channel pattern since the beginning of December. The surge began after the pair reversed from the lower boundary of a dominant ascending channel at 1.7218 on December 3. The currency pair breached a resistance level formed by a traditional weekly pivot point at 1.7934 during the morning hours of...
The Australian has depreciated about 3.58% of its values against the Canadian Dollar. The currency pair tested the October 30 2018, low level at 0.9283 during yesterday’s trading session. The exchange rate is currently stranded between the monthly resistance level at 0.9496 and the weekly support level at 0.9438. By and large, it is expected that the currency...
The New Zealand Dollar has been trading in a falling wedge pattern against the US Dollar since the middle of December. The currency pair was bounded between support and resistance area since the beginning of the holiday season. Everything being equal, it is likely that the currency exchange rate edges lower within this session. However, a support level formed...
Bearish pressures have dominated the US Dollar against the Canadian Dollar since the beginning of December. As a result, the currency pair reached May 2017 swing high of 1.3663. Today’s session began with a strong bearish movement. By the middle of the European trading session, the exchange rate has breached the bottom border of an uptrend line at 1.3578. In case...
The Australian Dollar continues its decline against the US Dollar in a descending channel pattern. This downward movement was not very distinct throughout the previous session, as traders were reluctant to enter into massive trades during the holidays season. It seems that the bearish sentiment could allay today, as apparent by technical indicators. Given that the...
The last trading days of 2018 was dominated by the bearish sentiment. After testing the combined resistance level of the 200-hour simple moving average and the upper boundary of a descending channel pattern at 127.07, the common European currency began to depreciate against the Japanese Yen and shot down to the 124.34 area. As shown on the chart, the first part of...