The yellow metal's price failed to pass the resistance of the 1,970.00 level despite making many attempts. Moreover, eventually, the price broke the hourly chart's rising wedge pattern. By the middle of Thursday's GMT trading hours, the rate had reached the support of the 1,940.00 mark. Economic Calendar Analysis On Thursday, at 12:30 GMT, the US weekly Unemployment Claims could cause a move. Click
After reaching above the 1,970.00 mark, the yellow metal began a decline on Tuesday. The decline was stopped and the price reversed by the combination of the support of the lower trend line of the ascending wedge pattern and the 100-hour simple moving average. On Wednesday morning, the rate resumed its surge and once again tested the resistance of the pivot
The yellow metal ended its sideways trading by surging. Namely, by the middle of Tuesday's GMT trading hours the price of the metal had reached above the 1,970.00 level. Meanwhile, on the hourly candle chart the price had revealed a rising wedge pattern. Economic Calendar Analysis On Wednesday, at 12:30 GMT the US Retail Sales and Core Retail Sales data sets are set
The metal started the week's trading by bouncing around the 1,945.00 level. Namely, it was supported by the 1,940.00 level and kept down by the 1,950.00 mark. In the meantime, in the mentioned zone three hourly simple moving averages were providing either support or resistance to the commodity price. Economic Calendar Analysis On Wednesday, at 12:30 GMT the US Retail Sales and Core
The yellow metal's price surged earlier than expected, as it passed the 1,950.00 level and reached the 1,965.00 mark at mid-day on Thursday. Although, this level provided resistance and caused decline back down to 1,940.00. On Friday, the rate was trading among the hourly simple moving averages in the range from 1,937.00 to 1,945.00. Economic Calendar Analysis The week will end with the
The yellow metal trades in sudden sharp moves. The most recent move was a surge, which reached the 1,950.00 level that provided resistance. In theory, the metal could surge as soon as the price is approached by the support of the 55 and 100-hour simple moving averages. Economic Calendar Analysis On Thursday, at 12:30 GMT a group of minor US data sets is
The metal's decline did not reach the low level of 1,900.00. Instead, the 1,910.00 mark provided support and caused a retracement back up to the 1,940.00 level. By the middle of Wednesday's GMT trading hours, the price had bounced off the 1,940.00 mark and retreated below 1,925.00. Economic Calendar Analysis On Thursday, at 12:30 GMT a group of minor US data sets is
During Tuesday's morning trading hours, the yellow metal's price bounced off the resistance of the 55-hour simple moving average and began a decline, which was approaching the 1,900.00 level. Economic Calendar Analysis On Thursday, at 12:30 GMT a group of minor US data sets is scheduled to be published. The set will consist of US Producers Price Index, Core Price Index and
On Monday morning, the yellow metal's price reached below the 55-hour SMA, which began to provide resistance. In theory, the SMA could push the price down. In the meantime, more notable developments had taken place on the daily candle chart. The metal has passed the support line of the post-coronavirus recovery channel up pattern. Economic Calendar Analysis On Thursday, at 12:30 GMT a
Since Thursday, the XAU/USD has been consolidating in the 1,935.00 area. Given that yellow metal is pressured by the 55- and 200-hour moving averages, it is likely that some downside potential could prevail in the market. Economic Calendar Analysis On Friday, both Canada and the US are set to release their monthly employment data at 12:30 GMT. Depending on the currencies that one
The squeeze of the yellow metal ended with a break out. Namely, the yellow metal's price broke out of it to the downside and reached below 1,935.00 level. Afterwards, the rate retraced back up to the resistance of the 200-hour SMA, which provided resistance near 1,950.00 and caused a decline. By the middle of Thursday's trading, the rate had touched
On Wednesday morning, the yellow metal's price had declined and started to trade between hourly simple moving averages. Namely, between the support of the 100-hour SMA and the resistance of the 55-hour SMA. Economic Calendar Analysis At 12:15 on Wednesday, the ADP Non-Farm Payrolls could cause a move. Dukascopy Analytics usually ignore this event because prior to August the EUR/USD move range was
During early Tuesday's trading hours the yellow metal's price managed to pass the resistance of the 1,975.00 level. By the middle of the day, the price had reached the resistance of the 1,990.00 level. In the meantime, it was spotted that the 1,985.00 mark was providing support. Economic Calendar Analysis On Tuesday, at 14:00 GMT the US ISM Manufacturing PMI is set
On Friday, the price for gold raised to the 1,975.00 level. It is likely that yellow metal could gain support from the 55-, 100- and 200-hour SMAs and extend gains in the short run. Economic Calendar Analysis The first week of the month is upcoming. It is set to reveal monthly data sets, which are expected to cause notable currency rate adjustments. On Tuesday,
During Friday morning hours, the yellow metal was testing the resistance of the 1,950.00 level. If the level would fail to keep the price down, the metal would have no technical resistance as high as 2,056.09. Due to that reason round price levels should be evaluated for resistance and support. Economic Calendar Analysis The first week of the month is upcoming. It is
The squeeze of the yellow metal resulted first in a false breakout down, which was followed by a break out to the upside. Namely, the pair shortly traded below 1,905.00 before starting a surge, which reached above 1,955.00 On Thursday, the price had retreated and found support in the 1,940.00 level. Economic Calendar Analysis On Thursday, the US Preliminary GDP and the US
Since Tuesday's early trading hours, the yellow metal had continued to trade below the resistance of the 55-hour simple moving average. In the meantime, it was spotted on Wednesday that the 1,914.50 level was providing support. In the near term future, due to the mentioned SMA retreating lower, a squeeze was expected. Economic Calendar Analysis On Wednesday, at 12:30 GMT traders should watch
The yellow metal's price made an attempt to surge above the 1,960.00 mark, and it failed to pass it. The 1,960.00 level did not only provide psychological round price level resistance, but was also strengthened by the resistance of the 100-hour simple moving average. On Tuesday, the rate had retreated and traded below the 55-hour SMA below 1,940.00. Economic Calendar Analysis As the
On Monday, the yellow metal continued to trade below the 1,960.00 level. However, it could be spotted that the price could surge, as the bullion began to break the resistance of hourly simple moving averages. Economic Calendar Analysis As the last week of the month, the following week is expected to be a quiet one. However, there are events that should be
Since the FOMC drop on Wednesday, the yellow metal has traded sideways between the 1,930.00 and 1,950.00 levels. However, on Friday, the rate was being approached by the resistance of the hourly simple moving averages, which could end the sideways trading. Economic Calendar Analysis Next week, as the last week of the month, the following week is expected to be a quiet one.
As the FOMC Meeting Minutes strengthened the USD, the yellow metal's price dropped. The decline of the bullion stopped only near the 1,930.00 mark. On Thursday, the pair traded between the 1,930.00 and 1,950.00 levels. It was expected to continue to do so until it would be approached by the hourly simple moving averages. Economic Calendar Analysis On Thursday, the weekly US Unemployment
The yellow metal's surge bounced off the 2,015.00 level, which resulted in a retracement back down. On Wednesday morning, the price reached the combined support of the 55 and 200-hour simple moving averages and the lower trend line of the channel up pattern just above 1,980.00. Economic Calendar Analysis Despite the t week having high impact events on the calendar, Dukascopy Analytics do
The yellow metal has ended its sideways trading near the 1,950.00 level. The commodity price has surged and reached above the 2,000.00 level During Tuesday morning GMT hours, the metal had no resistance as high as the 2,056.09 level, where a monthly pivot point was located at. Economic Calendar Analysis Despite the t week having high impact events on the calendar, Dukascopy Analytics
On Monday, the yellow metal traded near the 1,950.00 level. In general, the commodity continued to consolidate after the recent high volatility. However, as the rate traded sideways, it passed the resistance of the 55 and 100-hour simple moving averages. Economic Calendar Analysis Despite the t week having high impact events on the calendar, Dukascopy Analytics do not expect notable macroeconomic data caused