As better than expected US employment data was released on Friday, the yellow metal's price plummeted due to the anticipated strength of the US Dollar. The Bureau of Labor Statistics released the US Non-Farm Employment Change data, which came out better-than-expected of 2509K compared with the forecast of negative 7750K. Economic Calendar Analysis During the week, the action on the economic calendars will
On Thursday, the yellow metal's price continued the recovery, which started in the aftermath of dropping to the 1,690.00 mark. In the near term future, the commodity price was set to test the resistance of three SMAs and a pivot point near the 1,720.00 level. Economic Calendar Analysis The week will end with the US data set release on Friday 12:30 GMT. 31.05-06.06 Event
After another attempt to pass the 1,745.00 price level, the yellow metal dropped. By the middle of Wednesday's trading hours, the commodity price had touched the 1,715.00 level. Economic Calendar Analysis On Wednesday, June 3, two macroeconomic events from the US are expected: the ADP Non-Farm Employment Change at 12:15 GMT and the ISM Non-manufacturing PMI at 14:00 GMT. The week will end
Since the middle of Monday's GMT trading hours, the yellow metal's price has been pushed up by the 55-hour simple moving average. However, the metal did not manage to reach above the previously touched 1,745.00 level. Economic Calendar Analysis On Wednesday, June 3, two macroeconomic events from the US are expected: the ADP Non-Farm Employment Change at 12:15 GMT and the ISM Non-manufacturing
On Monday morning, the yellow metal's price continued to surge, as it reached for the 1,745.00 level. After touching the mentioned level, the rate retreated back to the support of the 1,730.00 level. At that level it met with the 200 and 55-hour simple moving averages. Economic Calendar Analysis Traditionally, the first week of the month is busy on the economic calendar. On Monday,
Yesterday, the XAU/USD exchange rate consolidated in the 1,720.00 area. Given that the rate is still squeezed by 55- and 200-hour SMAs, it is likely that the rate could consolidate. Economic Calendar Analysis Traditionally, the first week of the month is busy on the economic calendar. On Monday, June 1, the Institute for Supply Management will release the US ISM Manufacturing PMI survey results
The XAU/USD exchange rate touched the 1,700.00 level and reversed north. Given that the rate is squeezed by 55- and 200-hour SMAs, it is likely that the rate could consolidate. Economic Calendar Analysis This week, there is one notable time to watch the economic calendar. Today, a group of various US data sets will be published at 12:30 GMT. 25.05-29.05 Event Historical Reactions XAU/USD
On Wednesday morning, the XAU/USD exchange rate declined below 1,710.00. It is likely that yellow metal could consolidate against the US Dollar in the short run. Economic Calendar Analysis This week, there is one notable time to watch the economic calendar. At 12:30 on Thursday, a group of various US data sets will be published. 25.05-29.05 Event Historical Reactions XAU/USD short-term forecast Yesterday, the
On Tuesday morning, the XAU/USD exchange rate breached the rising wedge pattern south. It is likely that the rate could gain support from the psychological level at 1,720.00 and trade sideways. Economic Calendar Analysis This week, there is one notable time to watch the economic calendar. At 12:30 on Thursday, a group of various US data sets will be published. 25.05-29.05 Event Historical
On Monday morning, the XAU/USD exchange rate pierced the lower line of the rising wedge pattern. Given that yellow metal is pressured by the 55-, 100- and 200-hour moving averages, it is likely that a breakout south could occur in the nearest future. Economic Calendar Analysis This week, there is one notable time to watch the economic calendar. At 12:30 on
The yellow metal's price bounced off the supporting trend line of a rising wedge pattern. By the middle of Friday's London trading hours, the pair had broken the resistance of the 200-hour SMA below 1,730.00 and reached the 55 and 100-hour SMAs near 1,740.00. Economic Calendar Analysis Next week, there is one notable time to watch the economic calendar. At 12:30 on
After trading sideways around the 1,750.00 level, the yellow metal's price declined. On Thursday, the decline reached the 1,731.75 level, where it found support and began a recovery. Economic Calendar Analysis This week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at 13:45 GMT. It could affect gold prices through the strength of the
As speculated on Tuesday, the approaching of the support of the 100-hour SMA provided the needed strength for the yellow metal's price to surge. By the middle of Wednesday's GMT trading hours, the commodity price had reached above the 1,750.00 level. Economic Calendar Analysis This week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at
Since the bounce off from the 1,765.00 level on Monday, the yellow metal has been trading between 1,730.00 and 1,740.00. However, on Tuesday the situation could change, as the rate was approached by the support of the 100-hour simple moving average. Economic Calendar Analysis This week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at
The surge of the yellow metal reached the 1,765.00 level, which it tested throughout Monday morning. However, the resistance held, as the bullion's price plummeted back to 1,735.00 by the middle of the day. Economic Calendar Analysis This week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at 13:45 GMT. 17.05-23.05 Event Historical Reactions XAU/USD
The XAU/USD exchange rate breached the ascending triangle pattern and jumped to the 1,735.00 level. Note that yellow metal remains to be under pressure of the resistance level at 1,740.00. Economic Calendar Analysis Today, the US Retail Sales is being released at 12:30 GMT. Next week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at
The XAU/USD exchange rate continued to trade within the ascending triangle pattern. From a theoretical point of view, it is likely that the rate could continue to trade within the given pattern in the short term. Economic Calendar Analysis This week, monthly US inflation and retail sales data sets are bound to cause notable reactions, as they have done in the
Since Monday, the XAU/USD exchange rate has been testing the lower boundary of the ascending triangle pattern. From a theoretical point of view, it is likely that a reversal north could occur in the nearest future. Economic Calendar Analysis This week, monthly US inflation and retail sales data sets are bound to cause notable reactions, as they have done in the
Last week, the XAU/USD exchange rate revealed an ascending triangle pattern. Yesterday, the rate re-tested the lower pattern line near 1,695.00. During Tuesday morning, the rate reversed north. Economic Calendar Analysis This week, monthly US inflation and retail sales data sets are bound to cause notable reactions, as they have done in the past. Namely, US CPI on Tuesday, US PPI on
Last week, the XAU/USD exchange rate revealed an ascending triangle pattern. On Friday, the rate tested the upper pattern line. During today's morning, the rate reversed south from the given line. Economic Calendar Analysis This week, monthly US inflation and retail sales data sets are bound to cause notable reactions, as they have done in the past. Namely, US CPI on Tuesday,
The resistance of the hourly simple moving averages held for eight hours until the SMAs failed. It resulted in a surge. Since late Thursday, the rate had been consolidating and trading sideways above the 1,715.00 mark. Economic Calendar Analysis The week will end with the employment data release from the United States, on Friday at 12:30 GMT. Next week, monthly US inflation and
On Wednesday, the yellow metal's price ended moving sideways, as it dropped to the support of the 1,685.00 level. On Thursday, the price bounced off the support of the 1,685.00 and began to test the resistance of the 55 and 100-hour simple moving averages near 1,697.00. Economic Calendar Analysis There are no notable events scheduled for Thursday that could affect the exchange rate. On
The situation on the yellow metal's price charts has not changed, as the rate continues to trade near the 1,700.00 mark, where it is being influenced by the hourly simple moving averages. Economic Calendar Analysis There are no notable events scheduled for Thursday that could affect the exchange rate. On Friday, the week will end with the employment data release from the United
After making attempts to pass the resistance of the 1,710.00 level, gold's price declined on Tuesday. In the meantime, it was spotted that the commodity price is heavily being impacted by the hourly simple moving averages. Economic Calendar Analysis There are a couple of minor data releases scheduled for the week. On Tuesday, the US ISM Non-Manufacturing PMI is set to be