The GBP/USD surge extended, as the UK government announced that it would not do its fiscal stimulus, as it was previously announced. The news strengthened the Pound's value. At mid-day on Tuesday, the pair broke the upper trend line of the channel up pattern, the 1.1450 level and the weekly R1 simple pivot point at 1.1483. Economic Calendar On Wednesday, the US
During late Tuesday's trading a broad decline of the US Dollar occurred. On the EUR/USD charts it resulted in the pair breaking one resistance after another until the 1.0000 mark was reached. The 1.0000 level acted as resistance and caused sideways trading in the 0.9950/1.0000 range. Economic Calendar Analysis On Wednesday, the US ISM Services PMI is likely going to cause USD
The surge of the price for gold has reached the 1,710.00 mark. As the metal has reached new high levels, we have marked the September high at 1,730.00 and the late August high at 1,765.10. In addition, it has been spotted that the recent commodity recovery has occurred in a channel up pattern. Economic Calendar Analysis On Wednesday, the US ISM Services
During the second part of Monday's trading, the USD/JPY declined below the 145.00 mark. The decline was caused by the below expectation results of the US Manufacturing PMI results at 14:00 GMT. Namely, a fundamental adjustment of the USD value occurred and pushed the USD/JPY rate as low as 144.15. However, a recovery has followed the event. Economic Calendar This week, the
The GBP/USD has managed not only to reach above the 1.1300 level and the resistance of 1.1350, but also shortly trade above 1.1400. During the surge, the pair pierced the upper trend line of the channel up pattern, before retreating to levels near 1.1350. Economic Calendar This week, the rate is expected to move due to the publication of the JOLTS Job
The EUR/USD broke the resistance zone at 0.9865/0.9875 on Tuesday morning. Economic Calendar Analysis This week, the rate is expected to move due to the publication of the JOLTS Job Openings on Tuesday at 14:00 GMT. On Wednesday, the US ISM Services PMI is likely going to cause USD moves. The Monday's Manufacturing PMI caused a broad decline of the US Dollar. Above
At 14:00 GMT on Monday, the price for gold reacted to US data. Namely, the US ISM Manufacturing PMI was revealed to b at 50.9, compared to forecast 52.5. The event resulted in a broad drop of the US Dollar. On the gold charts the price spiked through the resistance of 1,680.00 and 1,685.00. Economic Calendar Analysis This week, the rate is
On Monday morning, the USD/JPY finally ended trading sideways. The sideways trading ended with the rate breaking the resistance of the 144.70/145.00 zone. The rate shortly tested the weekly R1 simple pivot point at 145.34, before retreating to the combined support of the 50 and 100-hour simple moving averages and the 144.70 level. Economic Calendar This week, the rate is expected to
On Monday, the GBP/USD pair was approaching the 1.1300 mark, as the recovery of the Pound against the US Dollar continued. Economic Calendar This week, the rate is expected to move due to the publication of the JOLTS Job Openings on Tuesday at 14:00 GMT. On Wednesday, the US ISM Services PMI is likely going to cause USD moves. The Monday's Manufacturing
Since Friday, the EUR/USD has been trading in the 0.9750/0.9850 range. In the meantime, the hourly simple moving averages, which had reached the rate, failed to impact it. In general, Friday's forecasts remain unchanged. Economic Calendar Analysis This week, the rate is expected to move due to the publication of the JOLTS Job Openings on Tuesday at 14:00 GMT. On Wednesday, the
The support of the 100-hour simple moving average was enough to cause a surge of the price for gold. During the early hours of Friday's trading, the commodity price had almost reached the 1,675.00 level. Economic Calendar Analysis On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal
It has been revealed by the Ministry of Finance that the Bank of Japan spent an equivalent of almost 20 billion US Dollars on its September 22 intervention in the Forex markets, which caused the USD/JPY drop from 145.90 down to 140.60. However, by September 26, all Japanese Yen currency rates were close to pre-intervention levels. In general, the USD/JPY is
The surge of the Pound against the US Dollar appears to have occurred in a wide range channel up pattern. Since late Thursday's European trading hours, the currency pair was testing the resistance of the channel. The resistance line is crossing the 1.1200/1.1250 range. In addition, the resistance line was being strengthened by the weekly R1 simple pivot point and
The Euro has received an additional boost, as inflation in Germany has reached a new record high, being revealed to be above 10.00%. The event boosted the Euro, as the markets took in the news as pressure on the European Central Bank to increase monetary tightening. On the technical charts the event occurred as a test and afterwards breaking of the
On Wednesday, the Bank of England announced that it would buy government bonds valued at a total of 65 billion Pounds. The market took in the news as follows - the bailing out of the government will create more inflation and will force the BoE to hike rates even more intensively. As a result a surge of the GBP against
On Wednesday, the Bank of England announced that it would buy government bonds valued at a total of 65 billion Pounds. The market took in the news as follows - the bailing out of the government will create more inflation and will force the BoE to hike rates even more intensively. As a result a surge of the GBP against
The Bank of England suddenly announced on Wednesday that it would buy government bonds for a total amount of 65 billion, despite ongoing monetary tightening. Initially, the rate was highly volatile and declined, as additional 65 billion Pounds would be poured into the economy. However, the central bank afterwards stated that it would still stick to rate hikes. Additional stimulus is
As the EUR/USD was trading between the support zone near 0.9550 and the 0.9600 mark, the Bank of England caused a broad decline of the US Dollar. Namely, the central bank announced that it would reduce its monetary tightening by buying UK government bonds at a total amount of 65 GBP billion. The markets took in the news as the
The decline of the price for gold has reached the 1,615.00 level. The commodity price has been gradually declining from one round price level to another. In general, the situation remains unchanged. Economic Calendar Analysis On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal Reserve Jerome Powell
The USD/JPY currency pair remained below the 144.70/145.00 zone up to the middle of Wednesday's European trading. Meanwhile, the support of the 50-hour SMA had caught up with the rate. In general, previous scenarios remained valid. Economic Calendar On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal
On Wednesday morning, the GBP/USD currency pair found support in the weekly S1 simple pivot point at 1.0637. Meanwhile, it appeared that minor resistance was provided by the 50-hour simple moving average near 1.0740. Economic Calendar On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal Reserve Jerome
The resistance of the 50-hour simple moving average was enough to force the EUR/USD into declining an reaching a new low level. On Wednesday morning, the pair touched the 0.9540 level. Economic Calendar Analysis On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal Reserve Jerome Powell revealed
The price for gold has booked a new low level, as it approached the 1,620.00 level during the late hours of Monday's trading. The level acted as support and caused a retracement of the price up to the 1,640.00 level. Economic Calendar Analysis This week, there are two times to look at the economic event calendar. On Tuesday, at 14:00 GMT, the
The recovery of the USD/JPY pair has reached the 144.70/145.00 zone, which had acted as resistance for most of September. Once the zone was broken last week, the Bank of Japan intervened in the market. Economic Calendar This week, there are two times to look at the economic event calendar. On Tuesday, at 14:00 GMT, the CB Consumer Confidence index could impact