The price for gold has continued to move higher. Most recently, the commodity revealed that there is a resistance zone at 2,084.35/2,088.30. The resistance held and by mid-Thursday the bullion was looking for support in the 2,075.00 level. A resumption of the larger scale surge would once again test the resistance of the 2,084.35/2,088.30 range. Higher above, the 2,090.00 and
The USD/JPY appears to have been impacted by the usually insignificant publication of the Richmond Manufacturing Index. The index is a survey of 55 manufacturers. It was revealed to the world that these firms expect twice as worse future than expected. It was the needed info for the pair to start a move. It started to decline and by
The GBP/USD eventually passed above the 1.2780/1.2795 range, the 1.2800 mark and the weekly R1 simple pivot point at 1.2812. Moreover, the rate had shortly traded above the August high level of 1.2819. However, the pair appears to have overextended its move, as on Thursday morning it retraced to the 1.2780/1.2795 range where it was looking for support. A resumption
The surge of the EUR/USD currency pair continues, as it has reached a new high level. Namely, the pair passed above the 1.1100 mark and confirmed it as support. By mid-Thursday, the rate had touched the 1.1140 level. The pair is set to face the resistance of the weekly R2 simple pivot point at 1.1149 and the 1.1150 level. A
The surge of the price for gold face the resistance of the 2,070.00 level. However, most recently, the 50-hour simple moving average has been pushing the commodity up and could cause a breaking of the resistance. In the case of a surge above 2,070.00, the 2,075.00 and 2,090.00 levels could slow down the commodity price, before the 2,100.00 would be
The USD/JPY kept respecting the resistance of the 50-hour simple moving average during early trading of the week. However, the SMA eventually broke and turned into support. The 50-hour SMA could push the rate up into testing the resistance of the weekly simple pivot point at 143.23, before the rate once again tests the 144.30/145.00 range. In the meantime,
It has been spotted that since late Friday's trading, the GBP/USD currency pair has been finding support in the 50 and 100-hour simple moving averages. Meanwhile, on Wednesday the 200-hour SMA caught up to the pair from below. In the case of the moving averages pushing the rate up, it could encounter resistance in the 1.2780/1.2795 range, the 1.2800 mark
The EUR/USD currency pair has reached a new high level, as the 1.1008/1.1017 has provided support and caused a move above 1.1050. An extension of the ongoing surge might be slowed down by the 1.1100 mark, before the pair approaches the weekly R2 simple pivot point at 1.1149 and the 1.1150 level. On the other hand, a decline of the Euro
The price of gold remains below resistance at 2.045.10/2,047.75 and above support at 2,027.20/2,030.00. In general, the situation and forecasts are unchanged. A move above 2,047.75 is expected to immediately face resistance in the 2,050.00 mark. Higher above, note the marked levels that impacted the commodity during its recent surge to all-time-high levels. However, a potential decline would look for support
The 144.30/145.00 range has caused a decline of the pair which has passed one support level after another. By mid-Thursday, the pair had reached the 142.00 mark. A move below 142.00 could find support in the 141.50 and 141.00 levels that acted as support during the end of last week. Further below, note the major impact that the 140.00 mark
The 1.2750 level held and caused a decline of the Pound. Moreover, the decline was massively impacted by the lower than expected UK Consumer Price Index release. Namely, markets expected annual inflation to be down from 4.6% to 4.3%, but the actual number was 3.9%. The major decline of inflation signals that the central bankers of the United Kingdom
Instead of heading straight to the 1.1000 mark, the EUR/USD consolidated and found support in the 1.0930/1.0935 range. The range held and on Thursday the pair finally reached the 1.1000 mark, which was pierced at mid-day. The pair is testing the resistance of the 1.1000 mark and the zone at 1.1008/1.1017. In addition, note that this week the weekly R1
By looking at technical charts it can be seen that a broad weakness of the US Dollar across the markets against peer currencies has pushed the price for gold higher. However, some attribute the move to the Houthi attack on shipping in the Red Sea. Highly likely that it is a combination of the two factors, as only
The Japanese central bank has announced that it would continue with its ultra-loose monetary policy despite a widely discussed expectations of an end to the stimulus. Governor of the BoJ Ueda stated that the policymakers were waiting for more evidence of wage and price increases that would justify a change of policy. The Japanese Yen's value adjusted to the announcement
Unexpectedly to our analysts, the GBP/USD found support in the 1.2630 level. The pair did not even approach the 1.2590/1.2610 range. The event is attributed to the major strength that the range showed during the first half of December. The following recovery eventually reached the 1.2750 mark that acted as resistance and by the end of Tuesday's trading a
The support of the 1.0880/1.0888 range and the weekly simple pivot point was enough to cause a surge of the Euro against the US Dollar. By mid Tuesday, the pair had passed above the 1.0960/1.0965 range that acted as resistance. By the end of the day, it appeared that the zone had acted as support. The surge of the pair
The price for gold has moved below the 2,027.70/2,030.00 range, which has turned from support into resistance. Meanwhile, it appears that support was found in the 200-day simple moving average. If the commodity price recovers, it would have to break above 2,030.00 and the 50-hour simple moving average. Moving higher, a move above 2,047.80 is set to immediately face the
The USD/JPY appears to be still waiting for the Bank of Japan to initiate a move, as the central bank is set to announces its future policy. Meanwhile, the rate started to surge, as it moved above 142.50. However, it could be short sellers closing their positions and taking profit before the fundamental event. From a technical perspective, the surge
The GBP/USD declined on Friday and the move extended on Monday. It has been observed that resistance is found in the 1.2700 mark. Support is provided by the weekly simple pivot point at 1.2656, the 1.2650 level and the 100-hour simple moving average close below these levels. An extension of the ongoing decline could look for support in the 200-hour
The EUR/USD rate has declined below the 1.0900 mark, where it appears to have found support in the combination of the weekly simple pivot point, 100-hour simple moving average and the 1.0880/1.0888 range. A potential recovery of the Euro against the US Dollar is set to face the resistance of the 50-hour simple moving average near 1,0940. Higher above, note
Since the Fed move, the metal's price remains near 2,040.00. We have marked the resistance and support ranges of the ongoing consolidation at 2,046.80/2,047.80 and 2,027.70/2,030.00. A move above 2,047.80 is set to immediately face the 2,050.00 mark. If the price for gold moves even higher, note the marked levels. They have acted as resistance during the early December booking
In general, the rate appears to be consolidating at the 141.00 mark, as it waits for more news either from the US or Japan. In the US it is the case of whether the Dollar continues its decline or it gets oversold and a retracement recovery occurs. Meanwhile, in Japan the Prime Minister is changing the government. Media reports indicate
On Thursday, at 12:00 GMT, the United Kingdom's central bank announced the Official Bank Rate and released the Monetary Policy Summary. As forecast by the market consensus, the bank kept the rate at 5.25%. In the meantime, the Monetary Policy Committee was expected to vote with two members voting for an increase and seven for keeping the rate intact.
The rate was surging after finding support in the 1.0880/1.0888 range, as the management of the European Central Bank added fuel to the fire. Despite keeping the Euro rate unchanged, the central bank President Christine Lagarde made comments on how the policy should be strict and tight, which pushed the Euro even higher. After the events, the surge continued