- Tue, 30 Apr 2024 10:47:18 GMT
GBP/USD has support from 50-hour SMA
The GBP/USD currency pair initially failed to reach above the 1.2535/1.2540 range. However, on Monday, the range was passed. On Tuesday, the 50-hour simple moving average caught up with the pair and provided additional support. In general, the rate is expected to move higher and test the resistance of the weekly R1 simple pivot point at 1.2588 and the
- Tue, 30 Apr 2024 10:04:52 GMT
EUR/USD has support at 1.0675/1.0700
The EUR/USD has been highly volatile since the last review, but the pair has mostly traded between 1.0740 and the support range at 1.0675/1.0700. In the meantime, the rate is ignoring the hourly simple moving averages and the previously marked trend lines. A potential surge above 1.0740 is set to face resistance in the weekly R1 at 1.0755, before the
- Wed, 24 Apr 2024 12:14:18 GMT
Gold gets a boost from US data
On April 23rd, the US Dollar dropped at 13:45 GMT. The drop was created by the publication of the United States Manufacturing and Services sector Purchasing Managers Indices. Released numbers showed a slowdown of US business activity. The price for gold surged on the news and broke the descending trend line that had pushed the metal down. However, the surge
- Wed, 24 Apr 2024 12:07:20 GMT
USD/JPY approaches 155.00
On April 23rd, the US Dollar dropped at 13:45 GMT. The drop was created by the publication of the United States Manufacturing and Services sector Purchasing Managers Indices. Released numbers showed a slowdown of US business activity. On the USD/JPY charts it resulted in a dip below the 154.70/154.80 range down to the support of the 100-hour simple moving average.
- Wed, 24 Apr 2024 11:40:37 GMT
GBP/USD extends recovery
On April 23rd, the US Dollar dropped at 13:45 GMT. The drop was created by the publication of the United States Manufacturing and Services sector Purchasing Managers Indices. Released numbers showed a slowdown of US business activity. On GBP/USD charts it resulted in a strengthening of the ongoing recovery. The rate reached the resistance of the 1.2460 level. This resistance
- Wed, 24 Apr 2024 11:13:12 GMT
EUR/USD passes above 1.0700
On April 23rd, the US Dollar dropped at 13:45 GMT. The drop was created by the publication of the United States Manufacturing and Services sector Purchasing Managers Indices. Released numbers showed a slowdown of US business activity. The EUR/USD got the needed push up above the 1.0675/1.0690 range, the weekly R1 at 1.0695 and the 1.0700 mark. After fluctuating above
- Tue, 23 Apr 2024 10:25:57 GMT
Gold reaches below 2,300.00
As the US Dollar continues to strengthen, the price for gold has declined. The USD has been strengthening due to risk on sentiment increasing after tensions in the middle east did not escalate. Meanwhile, the talk of rising inflation in the US has been continuing, as pressure increases on the US Federal Reserve to tighten policy. On Tuesday, the metal's
- Tue, 23 Apr 2024 10:06:37 GMT
USD/JPY reaches new high
Despite piercing the support range at 153.85/153.95, the USD/JPY returned to trade above it and eventually surged. On Monday, the rate was once again testing the 154.70/154.80 range. Meanwhile, support appeared to be provided by the 50 and 100-hour simple moving averages near 154.50. On Tuesday, the rate passed above the 154.70/154.80 range. However, it was still confirming the range
- Tue, 23 Apr 2024 10:03:49 GMT
GBP/USD finds support in 1.2300
The GBP/USD found support in the 1.2300 mark on Monday, and recovered to the resistance of the 50-hour simple moving average on Tuesday. A move below 1.2300 could result in the rate looking for support in the weekly S2 simple pivot point at 1.2280, the 1.2250 level and afterwards the combination of the 1.2200 mark and the weekly S3 simple
- Tue, 23 Apr 2024 09:45:58 GMT
EUR/USD gets a boost from fundamentals
The European Union country Purchasing Managers Indices were released from 07:15 GMT up to 08:00 GMT. In general, the event caused a surge of the Euro. However, the move was stopped by the 1.0675/1.0690 range and the weekly R1 simple pivot point at 1.0695. In general, the markets expected that the Manufacturing and Services sectors are doing badly. Although,
- Mon, 22 Apr 2024 13:09:54 GMT
Gold extends decline
As the US Dollar continues to strengthen, the price for gold has declined. The USD has been strengthening due to risk on sentiment increasing after tensions in the middle east did not escalate. Meanwhile, the talk of rising inflation in the US has been continuing, as pressure increases on the US Federal Reserve to tighten policy. An extension of the
- Mon, 22 Apr 2024 12:53:14 GMT
USD/JPY tests resistance
Despite piercing the support range at 153.85/153.95, the USD/JPY returned to trade above it and eventually surged. On Monday, the rate was once again testing the 154.70/154.80 range. Meanwhile, support appeared to be provided by the 50 and 100-hour simple moving averages near 154.50. If the rate breaks above the 154.70/154.80 range, the 155.00 mark is expected to act as
- Mon, 22 Apr 2024 12:43:19 GMT
GBP/USD plummets and approaches 1.2300
The GBP/USD has passed below the support zone at 1.2410/1.2425 and the 1.2400 mark. The Pound has continued to loose value against the USD. On Monday, the rate was heading already to the 1.2300 level. A move below 1.2300 could result in the rate looking for support in the weekly S2 simple pivot point at 1.2280, the 1.2250 level and
- Mon, 22 Apr 2024 12:31:05 GMT
EUR/USD reveals resistance range
The EUR/USD has confirmed the 1.0675/1.0690 as a resistance range. Moreover, the range was approached by the 200-hour simple moving average which provided additional pressure. On Monday, the pair was heading once again to the support of the 1.0600 mark, the weekly S1 simple pivot point at 1.0606 and the 1.0602/1.0613 zone. A move below this zone will look
- Thu, 18 Apr 2024 10:44:33 GMT
Gold trades below 2,400.00
The price for gold found support on Monday and recovered. However, the 2,400.00 mark and prior high level range is acting as resistance. Meanwhile, it has been observed that the ascending 200-hour simple moving average has acted as support and caused the most recent push up to 2,400.00. A move above 2,400.00 is expected to result in a surge to
- Thu, 18 Apr 2024 10:28:06 GMT
USD/JPY reveals support and resistance zones
The USD/JPY rate continued its surge until it encountered resistance in the 154.70/154.80 range. Moreover, on Tuesday, support was revealed at 153.85/153.95. Since Tuesday, the pair has been fluctuating between these levels. Meanwhile, it appears that support and resistance is found from time to time in the 50 and 100-hour simple moving averages. On Thursday, the rate was being
- Thu, 18 Apr 2024 10:11:21 GMT
GBP/USD reveals support range
The GBP/USD has revealed that it has been finding support in the 1.2410/1.2425 range. This range has kept the pair up throughout the week. Meanwhile, the 50 and 100-hour simple moving averages near 1.2450 and 1.2470. On Thursday, the moving averages failed to keep the pair down and a surge was expected to occur. A surge of the Pound against
- Thu, 18 Apr 2024 09:29:25 GMT
EUR/USD manages to recover
The EUR/USD continued to find support in the 1.0600 mark for most part of the week. The support was strong enough to eventually start a surge that broke the resistance of the 50 and 100-hour simple moving averages. An extension of the ongoing surge is set to face the combination of the 1.0700 mark, the weekly simple pivot point
- Mon, 15 Apr 2024 13:31:42 GMT
Gold retreat finds support near 2,340.00
The surge of the metal's price has surged above the 2,400.00 mark. However, resistance was found in the 2,430.00 mark and a sharp decline occurred. However, it appears that after a 100 dollar drop the price found support at 2,330.00. The follow up surge has encountered resistance in the range that surrounds the 2,350.00 level and the 50 and
- Mon, 15 Apr 2024 13:16:02 GMT
USD/JPY continues higher
On Monday, the USD/JPY was already surging, when US Retail Sales were released. The data boosted the USD even more. At mid-day the rate was above 154.00 and was heading to the combination of the 154.50 level and the weekly R2 at 154.56. A move above the weekly R2 and the 154.50 level, is expected to face resistance in the
- Mon, 15 Apr 2024 12:17:47 GMT
GBP/USD retraces upwards
The decline of the Pound against the US Dollar has found support in the 1.2425/1.2435 range. However, by mid-Monday, the rate had reached the resistance of the 50-hour simple moving average and the 1.2500 mark. It was observed that the broader decline was resuming. A decline of the GBP/USD pair is set to look for support in the 1.2450 level
- Mon, 15 Apr 2024 12:06:20 GMT
EUR/USD respects trend line
The EUR/USD has declined, as expected. The rate has found support, as it approached the trend line that acted as support throughout March. On Monday, the rate recovered and traded with low volatility near the 1.0650 level. It appeared that the pair was waiting for additional news, before picking a direction. In the near term future, the rate could be
- Fri, 12 Apr 2024 12:00:14 GMT
Gold reaches 2,400.00
Throughout this week, US inflation was revealed to be higher than expected, despite rising inflation was already expected. This indicates that the FED has to hike rates, which is strengthening the USD. However, this is not resulting in a decline of the price for gold, as markets now that the rising inflation signals a potential economical recession, if the
- Fri, 12 Apr 2024 11:34:17 GMT
USD/JPY breaks 2022 high
Throughout this week, US inflation was revealed to be higher than expected, despite rising inflation was already expected. This indicates that the FED has to hike rates, which is strengthening the USD. Meanwhile, the Bank of Japan has ruled out that it could hike interest rates to stop the decline of the currency. The central bank is more concerned