The price of gold is testing the resistance of the 2,450.00 mark. It appears that there is a sort of resistance zone at 2,450.00/2,460.00. A move above the 2,450.00/2,460.00 range is set to face the all-time-high level range near 2,480.00 On the other hand, a potential decline might look for support in the 2,390.00/2,400.00 range, prior to reaching the 2,370.00 mark.
Since Wednesday, the recovery of the US Dollar against the Japanese Yen has stalled at the resistance of the 148.00 mark. Meanwhile, support is found in the 50 and 100-hour simple moving averages and the 146.00 level. In general, the pair is waiting for more data or events that would reveal direction. A potential extension of the recovery is set
The currency pair found support in the 100-hour simple moving average near 1.2725 and recovered. Eventually, with the additional support of the 1.2735/1.2750 range, the GBP/USD passed above the 200-hour simple moving average. In the near term future, the pair could surge to the 1.2800/1.2820 range. Higher above, take into account the resistance of the weekly R1 at 1.2828. If these
Since Friday, the EUR/USD has been almost flat. The rate has continued to fluctuate near 1.0920. Meanwhile, it was spotted that the pair is mostly ignoring the 50 and 100-hour simple moving averages. A move above the 1.0940/1.0950 zone is expected to encounter resistance in the weekly R1 simple pivot point at 1.0990. Higher above, the 1.1000 mark is bound
Gold has managed to recover and surged to the 2,430.00 level. During the recovery, it was observed that the metal mostly ignored the hourly simple moving averages. Round price levels have a larger impact on the commodity price. An extension of the ongoing recovery is expected to face resistance in the 2,450.00 level, before approaching the all-time-high level range near
The recovery of the US Dollar against the Japanese Yen has stalled at the resistance of the 148.00 mark. Meanwhile, support is found in the 50 and 100-hour simple moving averages and the 146.00 level. In general, the pair is waiting for more data or events that would reveal direction. A potential extension of the recovery is set to face
The GBP/USD has revealed a support range at 1.2665/1.2675. The range provided enough support to cause a surge that was strong enough to pass the 1.2700 mark, a resistance range, two simple moving averages. However, as the rate was piercing the upper trend line of the channel down pattern and the 200-hour simple moving average, it eventually failed and a
Since mid-Tuesday, the pair has been fluctuating around the 1.0900 mark. However, the fluctuation range has its borders. Support is found in the 1.0870/1.0880 range. Resistance is provided by the 1.0940/1.0950 zone. A move above the 1.0940/1.0950 zone is expected to encounter resistance in the weekly S1 simple pivot point at 1.0965. Higher above, the 1.1000 mark is bound to
The price of gold declined due to the broad asset sell off. However, the price eventually found support in the 2,370.00 level. By mid-Wednesday, it has once again returned to trade near 2,400.00. A continuation of the ongoing recovery could encounter resistance in the 200 and 100-hour simple moving averages. In addition, the 2,420.00 level might impact the rate.
The major decline of the USD/JPY rate has paused at the 142.00 mark. This range has provided support for a recovery. By mid-Wednesday, the recovery was approaching the 148.50/148.90 range that was expected to act as resistance. A move above the 148.50/148.90 range is expected to face the resistance of the weekly simple pivot point at 149.38 and the descending
In the aftermath of the high USD volatility, the GBP/USD has returned to trade near the 1.2700 mark. The 1.2700 appears to have failed to act as support, but the 1.2680 level has provided support and caused a recovery. On Wednesday, the recovery faced the resistance of the 50 and 100-hour simple moving averages and the 1.2735/1.2750 range. A move above
The crash of the US Dollar that was experienced on Monday resulted in the EUR/USD shortly trading above the 1.1000 mark. However, the 1.1000 held and the markets have calmed down. After the failure to move higher, the pair moved back to the 1.0900 level. In the case that the rate surges, it is set to face the resistance
The US Bureau of Labor Statistics has published the monthly employment data. Released data has shown a major increase in unemployment. The US Dollar index reacted to the news by sharply declining. Average Hourly Earnings were forecast to show a monthly increase of 0.3%. The actual income change is just 0.2%. Non-Farm Employment Change was expected to show a reading
The US Bureau of Labor Statistics has published the monthly employment data. Released data has shown a major increase in unemployment. The US Dollar index reacted to the news by sharply declining. Average Hourly Earnings were forecast to show a monthly increase of 0.3%. The actual income change is just 0.2%. Non-Farm Employment Change was expected to show a reading
The US Bureau of Labor Statistics has published the monthly employment data. Released data has shown a major increase in unemployment. The US Dollar index reacted to the news by sharply declining. Average Hourly Earnings were forecast to show a monthly increase of 0.3%. The actual income change is just 0.2%. Non-Farm Employment Change was expected to show a reading of
The US Bureau of Labor Statistics has published the monthly employment data. Released data has shown a major increase in unemployment. The US Dollar index reacted to the news by sharply declining. Average Hourly Earnings were forecast to show a monthly increase of 0.3%. The actual income change is just 0.2%. Non-Farm Employment Change was expected to show a reading of 176,000
The price for gold managed to break the 2,400.00 level and the three hourly simple moving averages. The event was followed by a surge to the 2,450.00 level, which was eventually broken. Meanwhile, round price levels were observed as acting as support and resistance. The surge coincided with a broader US Dollar's weakness that was caused by US Federal
The rate hike done by the Bank of Japan pushed the USD/JPY down to the support of the 150.00 mark. However, the post event recovery was short-lived, as the central bankers revealed more tightening. As the information spread, the USD/JPY reached a new low level by shortly piercing the 149.00 level. By mid-Thursday, the rate was fluctuating around the
In general, the GBP/USD continued to fluctuate above the 1.2800/1.2820 range until the morning before the publication of the Bank of England Official Bank Rate. During the morning hours, the markets pushed the rate down by as much as 100 points. As the rate was released, the GBP/USD recovered only to find resistance in the 1.2800/1.2820 zone. In the near term
The EUR/USD appears to have waited the Federal Reserve announcement in the range between 1.0800 and 1.0850 with some price action being caused by the 1.0825/1.0830 range and the release of the European CPI. However, the top event still was the Fed. After the Fed not announcing anything new, the EUR/USD has picked a direction. On Thursday, the currency
In general, the situation has not changed over the weekend. The price for gold is testing the resistance of the 2,373.70/2,400.00 range. A bounce off from the range could result in the rate looking for support in the 2,350.00 and 2,340.00 levels. However, the 2,370.00 level has been acting as support and could continue to hold the price up. In
The recovery from the support of the 152.00 mark has encountered resistance. The 100-hour simple moving average is keeping the rate down. Meanwhile, the 153.00 level is acting as support. In the near term future, the 100-hour SMA could connect with the resistance of the trend line that has been guiding the pair down. The combined resistance might push the
The GBP/USD continues to decline in the channel down pattern, as the rate encountered the upper trend line of the channel at the start of the week's trading, before reaching new low levels. Note that the trend line was strengthened by the 100-hour simple moving average and the weekly simple pivot point at 1.2885. By mid-Monday's trading hours, the rate
The currency exchange rate has passed below the support of the 1.0825/1.0830 range. Moreover, on Monday morning the decline reached below the weekly S1 simple pivot point at 1.0819. In the near term future, the EUR/USD is expected to reach the 1.0800 mark. In the case that the 1.0800 mark holds and provides support for a potential recovery of