At mid-day on Monday, the price for gold broke the resistance of the 1,800.00 mark and shortly traded above this level. However, the surge was stopped and reversed by the 100-hour simple moving average at 1,802.65. Economic Calendar Analysis The top data set of the week will be released on Wednesday at 13:30 GMT. At that time, the US Consumer Price Index
A recovery of the USD/JPY pair from the 115.20 level on Monday revealed the lower border of a channel down pattern. The pattern has been guiding the rate since January 4. During the second half of Monday's trading, the rate was located between the 115.20 mark and the zone that surrounds the 115.50 level. Economic Calendar The top data set of the
On Monday morning, the GBP/USD currency pair tested the resistance of the 1.3600 mark. By the middle of the day's European trading hours, the pair had bounced off the resistance and returned to levels near 1.3550. Near the 1.3550 mark, the rate might find support in the 100-hour simple moving average and the weekly simple pivot point at 1.3542. Economic Calendar The
The EUR/USD broke the triangle pattern in a sharp move upwards, as it should have happened in theory of the triangle. The surge ended at the 1.1365 level. From that level the currency exchange rate started a decline. By the middle of Monday's European trading hours, the rate had returned to the 1.1300 mark. Economic Calendar Analysis The top data set of the
On Friday, at 13:30 GMT, the price for Gold increased volatility due to the US monthly employment data showing contradicting information, as less jobs were found, salaries rose and unemployment rate decreased. The price for gold fluctuated between the 1,785.00 and 1,795.00 levels. However, both resistance and support were shortly pierced, indicating at their weakness. After the release, the price for
The USD/JPY currency exchange rate's attempt at recovery failed, as it was piercing the 116.00 mark. On Friday, the rate was fluctuating below the 116.00 mark, as the pair was slowly declining. Economic Calendar No more notable events this week. USD/JPY short-term review In the case that the pair extends its decline, support would be most likely provided by the support zone at
The release of the US monthly employment data at 13:30 GMT on Friday increased volatility on all pairs and assets that involve the US Dollar. During the volatility, the currency pair pierced the resistance of the 1.3550/1.3560 zone. Economic Calendar There are no more notable events set for this week. Next week's review is scheduled for Monday. GBP/USD short-term review If the GBP/USD
On Friday, analysts connected the January high levels of the EUR/USD currency exchange rate to reveal a resistance line. Meanwhile, the December 29 and January 4 low levels form a support zone. The two technical drawings combined form a descending triangle pattern. In theory, the pattern should squeeze the rate in, as the resistance line would force the rate into the
At 19:00 GMT on Wednesday, the US Fed Meeting Minutes were released. The event revealed that the US monetary policy makers are more hawkish than though, as they are highly likely to hike USD interest rates. The price for gold reacted to the news by an initial sharp drop, which was followed up by a steep decline. In total, the
In the aftermath of the Fed Meeting Minute release, the USD/JPY currency exchange rate has revealed a resistance and support zones at 116.19/116.24 and 115.63/115.66. During late Thursday's trading, the support zone had once again held and the rate was approaching the 50-hour SMA near 115.95 and the 116.00 mark. Economic Calendar The most notable event of the week will be the US
The surge of the GBP/USD was testing the resistance of the 1.3600 mark, as the US Fed Meeting Minutes caused a drop back to the 1.3500 level. By late Thursday trading hours, the rate had recovered and made an attempt to pass the 1.3560 level, before retreating below 1.3550. Economic Calendar The most notable event of the week will be the
The EUR/USD was testing the resistance of the weekly simple pivot point at 1.1345, as the US Fed Meeting Minutes were released. A strengthening of the USD followed, which beat down the EUR/USD. The decline eventually stopped at the 1.1285 level, on Thursday morning. However, since then the rate has been looking for direction, as it ignores technical levels and
The DUK+/EUR exchange rate started the year with a sharp move upwards. If one looks at the asking price chart, the move occurred up to the 2.4900 mark, from which it bounced off and declined to the 2.0000 level. Meanwhile, bid chart showed that the price had touched the 2.1000 mark, before retreating to a bid order cluster near 1.7000. Asking price
The price for gold has been slowly surging, as after passing the resistance of the 50 and 100-hour simple moving averages the price traded close above them. In general, on Wednesday, Tuesday's forecasts remained intact. Economic Calendar Analysis The most notable event of the week will be the US and Canadian monthly employment data release on Friday at 13:30 GMT. However, some might
The USD/JPY booked a new five year high level at the weekly R3 simple pivot point at 116.35. The resistance of the pivot point held and caused a decline. By the middle of Wednesday's trading, the rate had retreated below the weekly R2 simple pivot point and the 50-hour simple moving average near 115.80. Economic Calendar The most notable event of the week
Starting from Tuesday up to the middle of Wednesday's trading, the resistance zone at 1.3550/1.3557 continued to hold, as the GBP/USD was making its third attempt at breaking it. Previous forecast scenarios remained unchanged. Economic Calendar The most notable event of the week will be the US and Canadian monthly employment data release on Friday at 13:30 GMT. However, some might argue
On Tuesday, the EUR/USD found support in the December 29 low level at 1.1275 and the 1.1280 mark. The following surge passed the resistance of the channel down pattern, which recently guided the pair down. In addition, the technical resistance of the 50, 100 and 200-hour simple moving averages and the weekly S1 simple pivot point were passed. By the middle
The support of the 1,800.00 mark provided enough support to the price of gold that an attempted second surge at mid-Tuesday passed the resistance of the 50, 100 and 200-hour simple moving averages at 1,815.30, 1811.00 and 1,808.25. Economic Calendar Analysis The most notable event of the week will be the US and Canadian monthly employment data release on Friday at 13:30
On Tuesday, the USD/JPY jumped, as it broke the resistance of the 115.40/115.50 zone. The surge reached above the five year high level of early 2017 near 115.80. By the start of US trading, the pair had already reached the resistance of the weekly R3 simple pivot point at 116.35. Economic Calendar The most notable event of the week will be the
On Tuesday, the GBP/USD surged and reached for the resistance of the December 31 high level at 1.3550. The rate reached the 1.3550 level in the aftermath of finding support in the 200-hour simple moving average near 1.3440. Economic Calendar The most notable event of the week will be the US and Canadian monthly employment data release on Friday at 13:30
At mid-day on Tuesday, the EUR/USD currency exchange rate traded below the 1.1300 mark, which had been passed during the drop that started with the start of 2022. Economic Calendar Analysis The most notable event of the week will be the US and Canadian monthly employment data release on Friday at 13:30 GMT. However, some might argue that the FOMC Meeting Minutes release
Late on December 22, the price for gold reached the 1,810.00 mark. Since then, the price has been fluctuating with high volatility sideways around the price level. Meanwhile, the hourly simple moving averages were catching up to the price from below. Economic Calendar Analysis The week before New Year's has no notable scheduled events. Expect the review of the first week of
The USD/JPY continued to surge, as it was pushed up by the 50-hour simple moving average. Meanwhile, the currency exchange rate remains in a channel up pattern, which had guided the pair since December 17. On December 27, the only close by resistance to the rate was the weekly R1 simple pivot point at 114.91. Economic Calendar The week before New Year's
Since the middle of December 23, the GBP/USD currency exchange rate has been trading sideways between the 1.3400 mark and a resistance zone above 1.3420. The sideways trading could be explained by the lack of direction caused by the holiday season. Economic Calendar The week before New Year's has no notable scheduled events. Expect the review of the first week of