The additional support of the 50-hour simple moving average was enough to cause a move of the price for gold above the 1,879.30/1,881.60 resistance zone. A continuation of the surge might eventually test the 1,900.00 mark. On the other hand, a decline could look for support in the 1,879.30/1,881.60 and 1,867.90/1,870.40 zones. However, the direction of the price is bound
During the first half of Wednesday's trading hours, the USD/JPY currency pair was testing the resistance of the 132.45/132.65 zone. A recovery of the US Dollar and move above 132.65 might be slowed down by the 133.00, 133.50 and 134.00 levels, before the resistance zone near 134.50 would be once again reached. In addition, note the weekly R1 simple pivot
The GBP/USD currency exchange rate remains near 1.2150, as it expects the release of the US Consumer Price Index and the UK GDP data. A move below the support zone and the 1.2100 level might look for support in the combination of the 100 and 200-hour simple moving averages near 1.2050. Further below, note the 1.2000/1.2025 range and the weekly
The EUR/USD continues to wait for the US Consumer Price Inflation data, as the pair trades almost flat near 1.0750. In the case of the 1.0750 mark holding, the currency pair might look for support in the 1.0700 level and the 50-hour simple moving average. Further below, take into account the combination of the 100 and 200-hour SMAs near
Throughout this week, the price for gold has been fluctuating between the support of the 1,867.90/1,870.40 range and resistance at 1,879.30/1,881.60. In the meantime, the 50-hour simple moving average had caught up with the commodity. If the additional support of the 50-hour SMA manages to push the price through the resistance of 1,881.60, the price might finally test the 1,900.00 mark.
The USD/JPY currency pair has been fluctuating between the support of the 131.30/131.40 zone and resistance at 132.45/132.65 since the start of this week's trading. Meanwhile, the pair was observed to be ignoring the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 131.90/132.50. A recovery of the US Dollar and move above 132.65 might be
The surge of the GBP/USD, which followed the US employment data release, encountered resistance in the 1.2200 mark. The round exchange rate level held and caused a decline. By mid-Tuesday's trading, the currency pair had reached the support of the 1.2100/1.2115 range. A move below the support zone and the 1.2100 level might look for support in the combination of
From a technical perspective the support of the 1.0500 has held and caused a surge. However, the recent surge has been attributed to the US employment data release on Friday at 13:30 GMT, which caused a broad USD decline. By the start of this week, the pair had reached and was testing the resistance of the 1.0750 level. In the
On Thursday, the US Dollar strengthened due to better than expected US Unemployment Claims and ADP Non-Farm Employment data. This resulted in a decline of the price of gold down to the support of the 1,825.00 level. The support was enough to cause a recovery up to the 1,840.00 level. A move above 1,840.00 is expected to test the resistance of
On Thursday, the US Dollar strengthened due to better than expected US Unemployment Claims and ADP Non-Farm Employment data. The following surge had reached the late December high level zone 134.50. A move above the resistance zone could be slowed down by the 135.00 and 135.50 levels. Higher above, note the weekly R3 simple pivot point at 135.84. On the other
On Thursday, the US Dollar strengthened due to better than expected US Unemployment Claims and ADP Non-Farm Employment data. By the middle of Friday's trading, the follow up decline had reached below 1.1850 and was located near the weekly S2 simple pivot point's support at 1.1839. If the Pound continues to decline against the US Dollar it might find support in
On Thursday, the US Dollar strengthened due to better than expected US Unemployment Claims and ADP Non-Farm Employment data. On the EUR/USD chart it resulted in a decline below the 1.0575/1.0595 zone. By the middle of Friday's trading hours, the pair had reached the 1.0500 mark. A move below 1.0500 level might look for support in the 1.0450 and 1.0400
The price for gold has reached above 1,850.00. On Wednesday morning, the pair touched the 1,865.00 level, which acted as resistance and the commodity retraced to look for support in 1,850.00. If the metal's price continues to decline and reaches below 1,850.00, the 50-hour simple moving averages might act as support near 1,840.00. Further below, note the support of the 1,830.00
On Wednesday, the USD/JPY surged and managed to reach above 131.50. By the end of the day's European trading hours, the pair had reached above 132.50. An extension of the ongoing surge could encounter resistance in the 133.00 level and the weekly R1 simple pivot point at 133.46. Higher above, note the 134.00 level and the range around 134.50. A potential
The GBP/USD pair has managed to recover, as on Wednesday it was encountering resistance in the weekly simple pivot point at 1.2089. Meanwhile, support was found in the 1.2000/1.2025 zone. A move above the 1.2089 level is expected to encounter resistance in the 1.2100/1.2125 zone. A move above 1.2125 could encounter resistance in 1.2150 and the weekly R1 simple pivot point
On Wednesday, the EUR/USD reached the combined resistance of the weekly R1 simple pivot point at 1.0629 and the 100 and 200-hour simple moving average. Afterwards, the pair was finding support in the 1.0575/1.0595 zone. At 19:00 GMT the US Federal Reserve Meeting Minutes were released, which revealed that the Fed is not considering any rate cuts in 2023.
The price for gold continued to surge, as it eventually managed to break the 1,825.00 mark and the December high level at 1,833.20. On Tuesday morning, the commodity price reached the 1,850.00 mark. However, as the US futures markets opened, major demand for the USD caused a decline of all commodities. By mid-day, the price had retraced to the 1,830.00
With the opening of the US futures market, the USD experienced major demand, which pushed the USD/JPY currency pair up to the combined resistance of the 131.00 mark and the 50-hour simple moving average. However, prior to the recovery the pair had reached the 129.50 level. A move above the 131.00 mark might encounter resistance in the 131.50 level, prior to
The opening of the US futures market caused major demand for the US Dollar, which beat down currency exchange rates. The GBP/USD sharply plummeted to the 1.1900 mark, where it found support. By mid-Tuesday it appeared that the weekly S1 simple pivot point and the 1.1940 level were acting as resistance. A move above 1.1940 might aim at the 1.2000 mark,
As the US futures markets started 2023 trading on Tuesday morning, the US Dollar strengthened. As a result the EUR/USD plummeted, as by 11:00 GMT, the pair had reached 1.0520. An extension of the ongoing decline might look for support in the weekly S3 simple pivot point at 1.0514 and the 1.0500 mark. Further below, note the December support levels
Most recently the price for gold has been finding support in the 1,815.00 level an resistance was encountered at 1,825.00. In the meantime, the pair was being approached from below by the 50, 100 and 200-hour simple moving averages near 1,810.00. A move above 1,825.00 level could encounter resistance in the December high level at 1,833.20. Higher above, note that the
The USD/JPY encountered resistance in the 134.50 level, before starting a broad decline. By the start of 2023, the pair had reached below 131.00 mark, which acted as resistance. Meanwhile, support appears to be provided by the December 20 low level at 130.57. A move below 130.57 could look for support in the 130.00 mark, the weekly S1 simple pivot point
Since December 22, the GBP/USD currency pair has been trading between the support zone above 1.2000 and resistance above 1.2100. Namely, support is found in 1.2000/1.2025 and resistance at 1.2100/1.2125. Meanwhile, the pair has largely ignored the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point. A move below 1.2000 could look for support in the 1.1950
During the holidays, the EUR/USD recovered and reached the 1.0700 mark. However, on January 2 the currency exchange rate traded below the round level. Meanwhile, support appeared to be provided by the combination of the weekly simple pivot point at 1.0671 and the 50-hour simple moving average. A resumption of the surge would have to reach above 1.0700. Higher