On Friday, the yellow metal failed to exceed the 1,745.00 level. During Monday morning, the XAU/USD exchange rate was testing the support provided by the 200-hour moving average. Economic Calendar Analysis In regards to the metal's price during current week, there are a couple of scheduled macroeconomic data releases that could impact it. First of all, note the US Retail Sales on Tuesday
On Friday, the yellow metal continued to trade near the previous day's trading levels. Namely, the pair remained between 1,720 and 1740.00 levels. However, take into account that the commodity price managed to shortly pass the 1,740.00 level and touch the 1,745.00 mark. Economic Calendar Analysis In regards to the metal's price during next week, there are a couple of scheduled macroeconomic data
On Wednesday, it was stated that a possible metal's surge would stop at the 1,740.00 level. It occurred and resulted in a decline, which by the middle of Thursday's trading had retreated to technical supports at 1,720.00. Future forecasts were based upon what would happen at the 1,720.00 price level. Economic Calendar Analysis Economic calendars show the US PPI and Unemployment Claims on
At mid-day on Wednesday, the yellow metal pierced technical resistance at 1,722.00 and immediately reached for the 1,725.00 level. Moreover, the metal no longer had any technical resistance as high as 1,773.62. However, it does not mean that a surge is about to occur, as a major Federal Reserve is scheduled for 18:00 GMT. Economic Calendar Analysis At 18:00 GMT the US Federal
The recovery of the yellow metal's price continued to recover on Tuesday. During the recovery, it passed the resistance of the 55 and 100-hour simple moving averages and the 1,700.00 mark. Economic Calendar Analysis During the week, the action on the economic calendars will start and most likely end on Wednesday. At 18:00 GMT the US Federal Reserve is scheduled to make
Gold's decline stopped at the 1,675.00 level. From that level the commodity price began a recovery. By the middle of Monday's GMT trading the metal had reached above the 1,695.00 mark. Previously, a drop was caused by the Bureau of Labor Statistics release of the US Non-Farm Employment Change data, which came out better-than-expected of 2509K compared with the forecast of
As better than expected US employment data was released on Friday, the yellow metal's price plummeted due to the anticipated strength of the US Dollar. The Bureau of Labor Statistics released the US Non-Farm Employment Change data, which came out better-than-expected of 2509K compared with the forecast of negative 7750K. Economic Calendar Analysis During the week, the action on the economic calendars will
On Thursday, the yellow metal's price continued the recovery, which started in the aftermath of dropping to the 1,690.00 mark. In the near term future, the commodity price was set to test the resistance of three SMAs and a pivot point near the 1,720.00 level. Economic Calendar Analysis The week will end with the US data set release on Friday 12:30 GMT. 31.05-06.06 Event
After another attempt to pass the 1,745.00 price level, the yellow metal dropped. By the middle of Wednesday's trading hours, the commodity price had touched the 1,715.00 level. Economic Calendar Analysis On Wednesday, June 3, two macroeconomic events from the US are expected: the ADP Non-Farm Employment Change at 12:15 GMT and the ISM Non-manufacturing PMI at 14:00 GMT. The week will end
Since the middle of Monday's GMT trading hours, the yellow metal's price has been pushed up by the 55-hour simple moving average. However, the metal did not manage to reach above the previously touched 1,745.00 level. Economic Calendar Analysis On Wednesday, June 3, two macroeconomic events from the US are expected: the ADP Non-Farm Employment Change at 12:15 GMT and the ISM Non-manufacturing
On Monday morning, the yellow metal's price continued to surge, as it reached for the 1,745.00 level. After touching the mentioned level, the rate retreated back to the support of the 1,730.00 level. At that level it met with the 200 and 55-hour simple moving averages. Economic Calendar Analysis Traditionally, the first week of the month is busy on the economic calendar. On Monday,
Yesterday, the XAU/USD exchange rate consolidated in the 1,720.00 area. Given that the rate is still squeezed by 55- and 200-hour SMAs, it is likely that the rate could consolidate. Economic Calendar Analysis Traditionally, the first week of the month is busy on the economic calendar. On Monday, June 1, the Institute for Supply Management will release the US ISM Manufacturing PMI survey results
The XAU/USD exchange rate touched the 1,700.00 level and reversed north. Given that the rate is squeezed by 55- and 200-hour SMAs, it is likely that the rate could consolidate. Economic Calendar Analysis This week, there is one notable time to watch the economic calendar. Today, a group of various US data sets will be published at 12:30 GMT. 25.05-29.05 Event Historical Reactions XAU/USD
On Wednesday morning, the XAU/USD exchange rate declined below 1,710.00. It is likely that yellow metal could consolidate against the US Dollar in the short run. Economic Calendar Analysis This week, there is one notable time to watch the economic calendar. At 12:30 on Thursday, a group of various US data sets will be published. 25.05-29.05 Event Historical Reactions XAU/USD short-term forecast Yesterday, the
On Tuesday morning, the XAU/USD exchange rate breached the rising wedge pattern south. It is likely that the rate could gain support from the psychological level at 1,720.00 and trade sideways. Economic Calendar Analysis This week, there is one notable time to watch the economic calendar. At 12:30 on Thursday, a group of various US data sets will be published. 25.05-29.05 Event Historical
On Monday morning, the XAU/USD exchange rate pierced the lower line of the rising wedge pattern. Given that yellow metal is pressured by the 55-, 100- and 200-hour moving averages, it is likely that a breakout south could occur in the nearest future. Economic Calendar Analysis This week, there is one notable time to watch the economic calendar. At 12:30 on
The yellow metal's price bounced off the supporting trend line of a rising wedge pattern. By the middle of Friday's London trading hours, the pair had broken the resistance of the 200-hour SMA below 1,730.00 and reached the 55 and 100-hour SMAs near 1,740.00. Economic Calendar Analysis Next week, there is one notable time to watch the economic calendar. At 12:30 on
After trading sideways around the 1,750.00 level, the yellow metal's price declined. On Thursday, the decline reached the 1,731.75 level, where it found support and began a recovery. Economic Calendar Analysis This week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at 13:45 GMT. It could affect gold prices through the strength of the
As speculated on Tuesday, the approaching of the support of the 100-hour SMA provided the needed strength for the yellow metal's price to surge. By the middle of Wednesday's GMT trading hours, the commodity price had reached above the 1,750.00 level. Economic Calendar Analysis This week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at
Since the bounce off from the 1,765.00 level on Monday, the yellow metal has been trading between 1,730.00 and 1,740.00. However, on Tuesday the situation could change, as the rate was approached by the support of the 100-hour simple moving average. Economic Calendar Analysis This week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at
The surge of the yellow metal reached the 1,765.00 level, which it tested throughout Monday morning. However, the resistance held, as the bullion's price plummeted back to 1,735.00 by the middle of the day. Economic Calendar Analysis This week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at 13:45 GMT. 17.05-23.05 Event Historical Reactions XAU/USD
The XAU/USD exchange rate breached the ascending triangle pattern and jumped to the 1,735.00 level. Note that yellow metal remains to be under pressure of the resistance level at 1,740.00. Economic Calendar Analysis Today, the US Retail Sales is being released at 12:30 GMT. Next week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at
The XAU/USD exchange rate continued to trade within the ascending triangle pattern. From a theoretical point of view, it is likely that the rate could continue to trade within the given pattern in the short term. Economic Calendar Analysis This week, monthly US inflation and retail sales data sets are bound to cause notable reactions, as they have done in the
Since Monday, the XAU/USD exchange rate has been testing the lower boundary of the ascending triangle pattern. From a theoretical point of view, it is likely that a reversal north could occur in the nearest future. Economic Calendar Analysis This week, monthly US inflation and retail sales data sets are bound to cause notable reactions, as they have done in the