Technical Analysis

Thu, 14 Mar 2024 16:26:42 GMT

Gold reveals support and resistance

The surge of gold did not reach the 2,200.00 mark. Instead, the metal has been consolidating between two notable ranges. First of all is the resistance of the 2,185.00/2,195.00 range. Most recently, the price has been finding support in the 2,150.00/2,165.00 zone. On Thursday, March 14, the price declined due to the publication of the US Producer Price Index.

Thu, 14 Mar 2024 16:13:40 GMT

USD/JPY fundamentals break pivot point

The USD/JPY has continued to face the resistance of the weekly simple pivot point at 148.03 and the 148.00 level. Meanwhile, support was found at various levels like hourly moving averages and the 147.00 and 147.50 levels. On March 14, the publication of the monthly US Producer Price Index provided the needed energy for a breaking of the weekly

Thu, 14 Mar 2024 15:54:04 GMT

GBP/USD surge ended before 1.2900

The last week's surge of the pair ended at the 1.2900 mark. Actually, resistance was found at 1.2885/1.2895. In the aftermath of this event, the rate kept finding support in various levels like the lower trend line of the previously active channel up pattern, the 1.2800 and 1.2750 levels and the 1.2760/1.2775 range. However, the release of the US PPI

Thu, 14 Mar 2024 15:38:53 GMT

EUR/USD passes below support zone

Since the last review of the EUR/USD chart, the pair fluctuated between the support range at 1.0900/1.0920 and resistance of 1.0960 and 1.0980 levels. On Thursday, March 14, the US Producer Price Index data release caused a major surge of the US Dollar. The event resulted in the rate declining below 1.0900. The ongoing decline of the Euro against the

Thu, 07 Mar 2024 16:10:19 GMT

Gold surges despite breaking pattern

Gold broke the ascending pattern, as the price was consolidating sideways. However, the surge has resumed and the commodity has reached the 2,160.00 level. It is clear now that round price levels impact the metal. By large, until something changes fundamentally in the US monetary policy, it is unlikely that the surge would end. In general retracements occur, price

Thu, 07 Mar 2024 15:52:42 GMT

USD/JPY respects pivot point

The decline of the USD/JPY continues. On Thursday, the pair found support in the weekly S3 simple pivot point at 147.60. An extension of the ongoing decline is expected to look for support in the 146.65/147.10 range. Further below, the 146.00 level might stop the decline. In the case of a USD recovery, watch the weekly S2 simple pivot point at

Thu, 07 Mar 2024 15:46:22 GMT

GBP/USD reveals pattern

Recent comments made by the head of the US Federal Reserve have weakened the US Dollar. It has resulted in a surge of the GBP/USD that has continued to break one resistance after another. In addition, it has been spotted that the surge has occurred in a channel up pattern. In the near term future, the pair is set

Thu, 07 Mar 2024 15:39:29 GMT

EUR/USD passes above 1.0900

The EUR/USD managed to finally breach the 1.0860/1.0890 range and the combination of the 1.0900 mark and the weekly R2 simple pivot point. However, the rate consolidated before the ECB policy announcement and the announcement caused a retracement to the support of the passed range and the weekly R1 simple pivot point. After the fundamental event passed, EUR/USD continued

Tue, 05 Mar 2024 15:54:01 GMT

Gold reaches 2,140.00

The surge of gold continues. Moreover, US fundamental data has boosted the gains. At exactly 15:00 GMT, the US Institute for Supply Management published its Purchasing Managers Index. The markets expected the index to show good conditions in the sector, but the actual data disappointed. Due to this reason the US Dollar sharply declined. By late Tuesday's trading, the

Tue, 05 Mar 2024 15:46:50 GMT

USD/JPY touches new low

At exactly 15:00 GMT, the US Institute for Supply Management published its Purchasing Managers Index. The markets expected the index to show good conditions in the sector, but the actual data disappointed. Due to this reason the US Dollar sharply declined. The USD/JPY rate reacted to the news with a decline below the low level range of 149.85/149.95. However, it

Tue, 05 Mar 2024 15:41:22 GMT

GBP/USD breaks resistance

At exactly 15:00 GMT, the US Institute for Supply Management published its Purchasing Managers Index. The markets expected the index to show good conditions in the sector, but the actual data disappointed. Due to this reason the US Dollar sharply declined. On the GBP/USD charts it resulted in a breaking of the 1.2695/1.2710 range and the weekly R1 simple pivot

Tue, 05 Mar 2024 15:34:13 GMT

EUR/USD still tests resistance

At exactly 15:00 GMT, the US Institute for Supply Management published its Purchasing Managers Index. The markets expected the index to show good conditions in the sector, but the actual data disappointed. Due to this reason the US Dollar sharply declined. The EUR/USD reacted to the news by resuming its attempts to move above 1.0860/1.0890 range. If the pair once

Mon, 04 Mar 2024 13:17:15 GMT

Gold accelerates its surge

Gold was already heading higher in an ascending channel, as US fundamental news caused a drop of the US Dollar. The price for gold jumped and almost reached the 2,090.00 mark. There appears to be a resistance zone near that level. Meanwhile, support is found in the 2,080.00 level. A breaking above 2,090.00 is bound to encounter resistance in

Mon, 04 Mar 2024 13:00:27 GMT

USD/JPY remains near 150.00

The USD/JPY pair failed to break the resistance f the 150.65/150.90 range. The rate has retraced and found support in the 149.85/149.95 zone. On Monday, the pair was observed to be once again approaching the 150.65/150.90 range and the weekly R1 simple pivot point at 150.87. In general, a move above this range could immediately stop at the 151.00

Mon, 04 Mar 2024 12:45:26 GMT

GBP/USD recovers

The situation has not changed. In general, the GBP/USD has been trading between the 1.2600 and 1.2700 levels. Meanwhile support and resistance from time to time is found in the 1.2620, 1.2640, 1.2660 and 1,2680 levels. In addition, note the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point near 1.2650. On Friday, the pair found

Mon, 04 Mar 2024 12:31:07 GMT

EUR/USD approaches resistance

Since February 21, EUR/USD pair continues to find support in the range near 1.0800. Meanwhile, resistance is provided by the 1.0860/1.0890 range. On Monday, the pair approached the resistance range. If the pair once again bounces off the 1.0860/1.0890 range, support could be found in the combination of the 50, 100 and 200-hour simple moving averages near the weekly simple

Fri, 01 Mar 2024 13:33:02 GMT

Gold resistance turn into support

The 2,035.00/2,040.00 range has been broken. Moreover, the prior resistance has turned into support. At the start of the month, the commodity price reached above 2,050.00, which also appeared to have acted as support. An extension of the ongoing surge could suddenly reveal a round price level as resistance. Meanwhile, note the upper trend line of the yet unconfirmed channel

Fri, 01 Mar 2024 13:28:05 GMT

USD/JPY continues to test resistance

Despite the drop to 149.20 that was caused by fundamental events, the USD/JPY has returned to the resistance of the 150.65/150.90 range. A potential surge would have to break the 150.65/150.90 range, before testing the resistance of the weekly R1 simple pivot point at 150.93 and the 151.00 level. Higher above, the weekly R2 simple pivot point at 151.39 and

Fri, 01 Mar 2024 13:22:19 GMT

GBP/USD respects round levels

In general, the GBP/USD has been trading between the 1.2600 and 1.2700 levels. Meanwhile support and resistance from time to time is found in the 1.2620, 1.2640, 1.2660 and 1,2680 levels. In addition, note the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point near 1.2650. A move above 1.2650 could be slowed down by the

Fri, 01 Mar 2024 13:05:09 GMT

EUR/USD has support at 1.0800

The EUR/USD pair continues to find support in the range near 1.0800. Meanwhile, resistance is provided by the 1.0860/1.0890 range. A move below 1.0800 could result in the pair looking for support in the 1.0750 level and the weekly S1 simple pivot point at 1.0757. Further below, take into account the 1.0700 mark and the weekly S2 at 1.0696. In the

Tue, 20 Feb 2024 14:08:12 GMT

Gold continues to recover

Gold has been recovering since February 15. Most recently, the commodity price revealed that the recovery is occurring in a channel up pattern. In addition, the surge from time to time consolidates by retracing to the support of round price levels. The surge of the metal is set to face the 2,035.00/2,040.00 range. A breaking of the resistance range would

Tue, 20 Feb 2024 14:01:11 GMT

USD/JPY is drawn to 150.00

Since mid-February, the USD/JPY currency pair has fluctuated around the 150.00 mark. Support remains at the 149.50 mark and the 149.90 level. Resistance is encountered in the 150.65/150.90 range. A potential surge would have to break the 150.65/150.90 range, before testing the resistance of the 151.00 level. Higher above, the 151.50 level could act as resistance. On the other hand, a

Tue, 20 Feb 2024 13:58:24 GMT

GBP/USD manages to surge

The GBP/USD rate is heading higher, as it found support at 1.2580 and started to move higher. The ongoing surge could be slowed down by the 1.2675/1.2690 range, before the 1.2700 mark is once again reached. If the 1.2700 does not act as resistance, the rate could surge to the 1.2760/1.2775 zone. Higher above, note the 1.2800 level. In the meantime,

Tue, 20 Feb 2024 13:51:35 GMT

EUR/USD reaches above 1.0800

The pair has managed to break above the resistance zone that is located at the 1.0800 mark. The rate appears to be continuing its surge. The ongoing surge could eventually reach the 1.0900 mark. However, it is set to face resistance zones near 1.0860, 1.0885 and just below the 1.0900 mark. On the other hand, a decline of the pair is

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