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. Economic Calendar This week, there will be notable data released both in the UK and the USA. On Tuesday morning, at 06:00, the UK employment data will be published.
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. Economic Calendar Analysis This week, on Tuesday, watch the publication of the United States Producers Price Index at 12:30 GMT. This data release will provide an insight into US
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. Economic Calendar Analysis There are no more notable events scheduled for this week, XAU/USD short-term forecast An extension of the ongoing recovery is expected to
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. Economic Calendar There are no more notable events scheduled for this week
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. Economic Calendar Analysis There are no more notable events scheduled for this week that could impact the markets. EUR/USD hourly chart analysis A move above the 1.0940/1.0950 zone is expected to encounter
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. Economic Calendar Analysis This week lacks notable events. The only event that could cause a market reaction is the publication of the weekly US Unemployment Claims on Thursday at
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. Economic Calendar This week lacks notable events. The only event that could cause a market reaction is the publication of the weekly US Unemployment Claims
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. Economic Calendar The second
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. Economic Calendar Analysis The second week of August lacks notable events. The only event that could cause
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
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
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 Reserve rate
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 150.00 mark,
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. Economic Calendar On Friday, the
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 pair declined
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. Economic Calendar Analysis On Tuesday, the combination of the US CB Consumer Confidence index and the JOLTS Job Openings might create a move of the USD that would impact the financial markets. On Wednesday, market participants are set to ignore
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. Economic Calendar On Tuesday, the combination of the US CB Consumer Confidence index and the JOLTS Job Openings might create a move of the USD that would impact the financial markets. On
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 had
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 meantime, it was spotted that traders have taken profits. Namely, 57% of volume at Dukascopy was
Despite passing above simple moving averages, the price for gold experienced a sharp decline on Wednesday afternoon. The price declined to the support of the 2,373.70/3,400.00 range. Afterwards, on Thursday afternoon, the publication of the much higher than expected US GDP caused a drop of the commodity price below the range. Moreover, the range was confirmed as resistance and the
The USD/JPY continued to decline and eventually reached the 152.00 mark. This level acted as support and has forced the rate to retrace back up to as high as the combined resistance of the 100-hour simple moving average and the resistance line that has guided the rate down since July 10. Meanwhile, note that the July support trend line was