First of all note that the price encountered resistance at the 1,939.00 level and the 100-hour simple moving average. The event was followed by a retracement to the 1,920.00 level, which acted as support and caused a surge that at mid-day on Thursday reached above the 1,941.00 mark. In addition, the recent confirmation of the 1,920.00 level provided a reference point
The recovery from the 1,890.50/1,893.60 zone continued during Wednesday's trading hours. By 15:00 GMT, the price for gold was approaching combined resistance of the 100-hour simple moving average at 1,937.50 and the 1,940.00 mark. Economic Calendar Analysis On Thursday, at 13:30 GMT, minor US Dollar moves could occur due to the publication of the weekly US Unemployment Claims. The top event of the
Talks between Russia and Ukraine have been attributed to an ongoing risk on sentiment. On the gold charts, the sentiment resulted in the breaking of the channel up pattern, which recently guided the price up, and a decline that pierced the March low level. By 16:00 GMT on Tuesday, the price for gold had recovered to the 1,915.00 mark. Economic Calendar Analysis There
Previously marked support and resistance zones have been removed. Instead, high and low levels have been marked on the chart. In addition, it was spotted that during the second half of March the commodity price has been surging in a channel up pattern. On Monday, the price for gold declined and found support in the lower trend line of the channel
The breaking of the 1,950.00 level's resistance has resulted in a surge to the 1,965.00 mark, which provided resistance. The following decline eventually reached back to the 1,950.00 level by the middle of Friday's trading. Economic Calendar Analysis There are nine sets of data being released this week, which might cause an impact on currency valuations. Five of the nine are US
At mid-day on Thursday, the price for gold broke the resistance of the 1,950.00 mark. By 14:00 GMT, it appeared that the price was confirming the 1,948.00/1,951.50 zone as support. Economic Calendar Analysis The week's notable events are over. Next week's review will be published on Friday. XAU/USD short-term forecast In the case that the price for gold surges higher, it might encounter
During the mid-hours of Wednesday's trading hours, the price for gold surged and broke technical resistance levels. By 14:00 GMT, the price had reached above the 50 and 100-hour simple moving averages and the upper trend line of the channel down pattern, which has guided the metal down from the 1,950.00 mark since March 17. Economic Calendar Analysis On Thursday, at 12:30
The price for gold has continued the decline form the 1,950.00 zone. By the middle of Tuesday's US trading hours, the pair had reached the 1,910.00 mark. In the meantime, it was spotted that the recent decline is occurring in a channel down pattern. The lower trend line of the pattern, crosses the 1,910.00 level and provides additional support. Economic Calendar Analysis On
The recovery of the Gold price made attempts to pass the 1,947.40/1,951.80 zone and failed. During the first half of Friday's GMT trading hours, the commodity declined and found support in the 50-hour simple moving average and the 1,930.00 mark. In the meantime, the 100-hour simple moving average approached the rate, acted as resistance for four hours, before passing below the
The support of the 1,900.00 was pierced by gold during the initial US Federal Reserve rate hike. However, afterwards, the head of the central bank Jerome Powell started to comments on the economy and monetary policy, which caused a drop of the US Dollar. On the gold price charts it appeared as a jump to the 1,930.00 level and the breaking
At GMT timezone midnight to Tuesday, the price for gold declined below the support zone near 1,950.00. By the middle of the day's trading, the commodity had reached below 1,920.00. Take into account that this week, the moves in the financial markets are fundamental, as everyone is waiting for the Wednesday's US Federal Reserve rate hike. Economic Calendar Analysis On Wednesday, at
At mid-day on Monday, the price for Gold declined to the support of the zone near 1,950.00. In the meantime, it was spotted that the commodity price was declining in a channel down pattern. However, take into account that this week, the moves in the financial markets are fundamental, as everyone is waiting for the Wednesday's US Federal Reserve rate hike. Economic
The price for gold has retraced downwards to the support zone at 1,975.00. On Thursday, the zone provided enough support for a recovery of the price to start, as the metal shortly reached above the 2,000.00 level. Economic Calendar Analysis On Tuesday, at 12:30 GMT, the US Producer Price Index data will be out. Expect minor moves on USD charts. On Wednesday, at
The price for gold has reached the 2020 high level zone at 2,050.00/2,075.00. The zone acted as resistance and caused a decline on Wednesday. Namely, the bullion's price retraced and almost reached the 2,000.00 level. Meanwhile, the support of the 50-hour simple moving average managed to hold for only one hour. Economic Calendar Analysis On Thursday, at 13:30 GMT, the US Consumer Price
Despite shortly reaching below the support of the 1,975.00 mark on Monday, the metal surged on Tuesday and reached the 2,020.00 level. From a technical analysis perspective, the yellow metal's surge was attributed to the approaching support of the 50-hour simple moving average. During the mid-hours of Tuesday's trading, the price bounced off the 2,020.00 mark and confirmed the 2,000.00 level
The price for gold jumped on Monday, as the price shortly reached above the 2,000.00 mark and revealed a resistance zone. Meanwhile, the prior February high level at 1,975.00 appeared to be acting as support. The bullion is expected to consolidate between 1,975.00 and 2,000.00 levels. In the meantime, note that the price broke the post Russian invasion of Ukraine channel
As the price for gold had no technical resistance and the simple moving averages were approaching from below, a global fundamental run to safety gave enough strength to the price to pass the 1,950.00 mark. Namely, at mid-day on Friday, the commodity price surged above the 1,950.00 mark and by 16:00 GMT the metal was above 1,960.00. Economic Calendar Analysis On Thursday,
On Wednesday, the price for the yellow metal eventually found support in the zone at 1,913.50/1,922.00. The zone was strengthened by the 100-hour simple moving average in the zone and the approaching 200-hour SMA and the lower trend line of the channel up pattern, which has guided the commodity price since the start of the Russian invasion of Ukraine on
The yellow metal has clearly passed the resistance zone at 1,913.50/1,922.00, surged and confirmed the existence of a channel up pattern and retraced back down to the mentioned zone to confirm it as support. Economic Calendar Analysis On Thursday, the US Unemployment Claims might create a minor move of the USD at 13:30 GMT. Later on, expect the US ISM Services PMI
At mid-day on Tuesday, the price for gold once again moved above the resistance zone at 1,913.50/1,922.00. In the meantime, the commodity was finding support in the 100-hour simple moving average near 1,911.20. Economic Calendar Analysis At 15:00 GMT on Tuesday, the US Institute for Supply Management Purchasing Managers Index survey results for the Manufacturing sector will reveal the outlook of the
The price for gold started the week's trading with a gap up and piercing the resistance of the 1,913.50/1,922.00 zone. However, no less than an hour later, the commodity price returned to trading below the 1,922.00 mark. Moreover, during the mid-hours of Monday's European trading, the commodity price retreated to fluctuate between the support of the 200-hour simple moving average
The price for gold has been recently trading around the 1,900.00 mark in a 40 US Dollar range. Namely, the commodity price fluctuates between the support of the 1,880.00 level and resistance at 1,920.00. Note that the price is capable of shortly piercing these levels. Due to that reason support and resistance zones have been marked at 1,878.00/1,884.00 and 1,913.50/1,922.00. Economic
As expected, the price for gold reached the 1,900.00 mark, which was shortly pierced. Afterwards, at midnight to Friday, the commodity price retreated to look for support in the 1,890.00 level. Meanwhile, the 50-hour simple moving average had reached the support zone at 1,880.00/1,882.90. Economic Calendar Analysis During next week, there are various types of events, which could impact different currencies. However,
The price for the yellow metal has passed the resistance of the 1,880.00 mark. Moreover, the commodity has retrace down and confirmed support at 1,882.90. Due to that reason the 1,880.00/1,882.90 zone has been marked as support. At the start of Thursday's US trading hours, the price was approaching the 1,900.00 mark. In the meantime, it was spotted that the bullion