The EUR/USD has been moving in reaction to US data, comments on Federal Reserve policy and the ECB announcement. In general, the rate has been pushed up and down, but it is still near the 1.0900 level. Support is found in the 1.0870/1.0880 range and resistance has been confirmed to be located at 1.0940/1.0950. On Monday, the rate was located
The price for gold found enough support in the 2,350.00 to start a recovery. Afterwards, the price for Gold gained additional strength from the US CPI. By Monday, July 15, the commodity price was heading to the 2,450.00 level which mark's the all-time-high. Economic Calendar Analysis On Tuesday, watch the publication of the US Retail Sales at 12:30 GMT. The markets
The USD/JPY broke out of the triangle pattern and started a surge that was eventually approaching the 162.00 level. As the pair approached the 162.00 mark, the US CPI release caused a major drop of the US Dollar. On the USD/JPY charts, the event resulted in a decline to the 157.30/157.40 range that has turned into support. Afterwards, an attempted recovery
The last week's breaking of the 1.2800/1.2820 range has been followed up by a surge to the 1.3000 mark. The 1.3000 is acting as resistance and keeping the GBP/USD down. Economic Calendar On Tuesday, watch the publication of the US Retail Sales at 12:30 GMT. The markets could move due to an adjustment in the USD value. GBP/USD hourly chart analysis The approaching
The bullish scenario has taken place on the EUR/USD charts, as the pair broke above 1.0850 and confirmed this level as support. By July 15, the rate had reached above 1.0900 level and was testing the resistance of the 1.0920 level. Economic Calendar Analysis On Tuesday, watch the publication of the US Retail Sales at 12:30 GMT. The markets could move due
US employment data further weakened the US Dollar. The price for gold reacted to the news by surging and almost reaching the 2,400.00 mark. However, the resistance worked and the rate was descending and consolidating while looking for support. On Monday, the support appeared to be found in the 2,370.00 level and the 50-hour simple moving average. Economic Calendar Analysis This
The decline of the USD/JPY appears to have found support in the late June low level zone. Namely, the 160.25/160.30 range acted as support on Monday. However, by mid-day the rate had encountered resistance in a trend line that connects the pair's recent lower high levels. In general, the pair could get squeezed in. In the meantime, it was spotted
Friday's US employment data revealed that the US economy is slowing down, as unemployment increased. This in turn signals that the US Federal Reserve can cut interest rates and weaken the USD. Meanwhile, the UK elections were rather calm. On the GBP/USD charts, it resulted in the pair passing above the 1.2800/1.2820 resistance range, as the Pound has strengthened, compared
In the aftermath of the US employment release, the EUR/USD still trades between two ranges of support and resistance. Namely, resistance is provided by the 1.0840/1.0850 range and support is found at 1.0790/1.0800. Meanwhile, open position data indicates that Dukascopy traders have booked profits and went short. Open positions were 57% long on Thursday. On Monday, traders were already 67%
The price for gold was facing the resistance of the 2,340.00 level and continued to fail at all attempts to reach above it. Meanwhile, the 100-hour simple moving average was acting as support. On the daily candle chart, there was another squeeze going on. However, the technical chart was just representing the fundamentals. The markets were waiting for what the
The surge of the US Dollar against the Japanese Yen had encountered resistance at the 162.00 mark and the rate was looking for support to resume the surge. Support appeared to be once again found in the 50-hour simple moving average near 161.50. However, then US fundamental data was published and the pair plummeted. In general, the Chairman of the
Fundamentals have moved the financial markets. In general, Jerome Powell stated on Tuesday that the Fed needs more data before cutting interest rates. On Wednesday, various US data sets were released either below expectations or at forecast. This caused the drop. On the GBP/USD charts it has resulted in a surge above the 1.2750 level. In the meantime, it has
The resistance of the 1.0800 mark was broken this week due to the weakness of the US Dollar. In general, Jerome Powell stated on Tuesday that the Fed needs more data before cutting interest rates. On Wednesday, various US data sets were released either below expectations or at forecast. This caused the drop of the USD. Meanwhile, it was spotted
The 2,300.00 mark acted as support and the price for gold has managed to recover. The commodity has encountered some resistance in the 2,330.00 level, before approaching the 2,400.00 level. On Monday, the price was making its second attempt to reach above the 2,340.00 level. Meanwhile, the price ignored the 50, 100 and 200-hour simple moving averages. Economic Calendar Analysis Monday's
In general, the USD/JPY continues to surge higher, as a new high was reached on Monday. Meanwhile, by taking a broader look one can spot a support and a resistance lines that both have impacted the rate throughout June. Economic Calendar Monday's top event was the US ISM Manufacturing PMI release at 14:00 GMT. The markets are taking in the data
Since June 20th, the GBP/USD has been trading between the support of the 1.2620 level and the resistance of the 1.2700 mark. On Monday, the pair appeared to be heading for another test of the 1.2700 mark. In general, the sideways trading is attributed to the upcoming elections in the United Kingdom. The rate might remain near 1.2700 until Thursday.
Since mid-June, the EUR/USD was trading between the support zone at 1.0665/1.0670 and resistance at 1.0745/1.0760. On the first day of July's trading, the resistance zone was broken. However, it was not followed by a surge, as by mid-day the pair was impacted by the lower than forecast EU Purchasing Managers Indices. Later on, the rate got a boost from low
The price for gold has failed to show a broad recovery, as fundamentals beat it down on June 21. By June 26, the price was heading back to the 2,300.00 mark. Economic Calendar Analysis This week, watch out for the US Core PCE Price Index release on Friday at 12:30 GMT. The inflation measure is bound to impact the financial markets
On Wednesday, an announcement by the government of Japan that the country's GDP will be reviewed cause a decline of the Japanese Yen. Namely, markets are speculating that the GDP will be reviewed to the downside. As a result, the USD/JPY broke the resistance of the 160.00 mark. Meanwhile, we have noted that more than 70% of our traders were
As the markets wait for the UK elections, the GBP/USD has been drawn to the 1.2700 mark as a magnet. However, most recently, the pair bounced off this level and started a decline. On Wednesday, the rate was expected to reach the 1.2620 level. Economic Calendar This week, watch out for the US Core PCE Price Index release on Friday at
For the past week, the EUR/USD has been trading between the support zone at 1.0665/1.0670 and resistance at 1.0745/1.0760. In addition, the hourly simple moving averages and the weekly simple pivot points have been acting as support and resistance. Economic Calendar Analysis This week, watch out for the US Core PCE Price Index release on Friday at 12:30 GMT. The inflation
Initially, gold dropped due to it being revealed that the Chinese central bank is no longer buying up the metal to keep in reserves. The Chinese had been buying for 18 months straight. Then on June 07 it was revealed that the US Labor market is doing better than expected, which indicates that the US central bank can keep the
Despite the Bank of Japan official comments pushing the USD/JPY below 155.00, the rate has managed to recover. Moreover, on June 7 the surge was boosted by the release of the US monthly employment data. The event pushed the rate as high as 157.00. Economic Calendar There are a number of notable upcoming scheduled events to watch. On June 12 at
The rate was testing the resistance zone above 1.2800, as the US employment data release revealed that the US interest rates can remain higher for longer. The GBP/USD plummeted and headed to the 1.2700 mark. Economic Calendar There are a number of notable upcoming scheduled events to watch. On June 12 at 12:30 GMT, the United States Consumer Price Index will reveal