USDJPY is struggling to gain the strong positive momentum after its fast rebound from the 140.30 support level.
The US 500 stock index (cash) has been constantly losing ground in the short term, recording consecutive fresh multi-month lows.
Gold continued to face mild bullish pressures during Monday’s early European trading hours, despite remaining compressed within the tight range of 1,660–1,676.
EURUSD posted almost 4% of gains after the bounce off the 20-year low of 0.9530 in the preceding week, remaining within the long-term downward sloping channel.
GBPUSD climbed higher on Thursday but met resistance today at 1.1228, still below the short-term downtrend line drawn from the high of August 10 as well as below the longer-term downside line taken from the high of March 23.
GBPJPY has experienced some large moves in the short term, with the price losing around 10% before it recovers back above the 160.
USDCHF had a strong bearish day on Wednesday, losing more than 2%, sending the market down near the 20-day simple moving average (SMA).
USDCAD switched to consolidation after its exponential advance above a bullish channel topped at 1.3831. Of note, the area coincides with the 61.
ETHUSD has been trending downwards since mid-August when the price failed to surpass the 2,030 mark. Even though Ethereum experienced an acceleration of its decline following the successful completion of the Merge two weeks ago, it has been trading sideways in the last few daily sessions.
Silver jumped on Wednesday after triggering some buy orders near the 17.95 zone. However, the spike up was stopped by the 18.
CHFJPY is gaining some ground after the sharp selling interest in the preceding sessions, while it is currently flirting with the 20-day simple moving average (SMA).
EURUSD rebounded strongly yesterday after hitting support near the crossroads of the 0.9535 zone and the lower bound of the downward sloping channel that’s been containing the price action since January 28.