The surge of the yellow metal eventually bounced off the 1,640.00 level and declined to the 1,600.00 level. The decline was seen as a consolidation of the commodity price before resuming its surge. Economic Calendar Analysis The macroeconomic data release week will end with the US Final GDP data release on Thursday at 12:30 GMT. Meanwhile, next week's data is available. Click on the
On Tuesday, the yellow metal's price passed the 1,600.00 level and touched the 1,620.00 mark. By the middle of the day's GMT trading hours, the 1,620.00 was keeping the commodity price from surging higher. Economic Calendar Analysis This week, there are couple of events that could affect the XAU/USD exchange rate. On Wednesday, March 25, the US Durable Goods Orders data will be released
During Friday, the XAU/USD exchange rate consolidated in the 1,500.00 area. During Monday morning, the price for gold maintained its consolidation. Economic Calendar Analysis This week, there are couple of events that could affect the XAU/USD exchange rate. On Wednesday, March 25, the US Durable Goods Orders data will be released at 12:30 GMT. Later this day, the US Crude Oil Inventories are
During Friday morning, the XAU/USD exchange rate consolidated near the support formed by the 55- and 100-hour SMAs, as well the Fibo 23.60% in the 1,500.00 area. Given that the rate is pressured by the 55-hour SMA, it is likely that some downside potential could prevail. Economic Calendar Analysis This week, there are no events left that could affect the
During Thursday morning, the XAU/USD exchange rate was testing the monthly S2 at 1,466.10. Given that the rate is pressured by the 55-hour SMA, it is likely that some downside potential could prevail. Economic Calendar Analysis This week, there are no events left that could affect the XAU/USD rate. Meanwhile, Dukascopy Analytics are not publishing the historical reactions this week, as the
Yesterday, the XAU/USD exchange rate tried to surpass the 1,540.00 level. During Wednesday morning, the rate was testing the support level – the Fibonacci 23.60% retracement at 1,497.76. Economic Calendar Analysis This week, there are no events left that could affect the XAU/USD rate. Meanwhile, Dukascopy Analytics are not publishing the historical reactions this week, as the market environment has changed to such
The yellow metal's price faced the support level formed by the monthly S2 at 1,466.10. Gold could remain under pressure of the 55-hour SMA near 1,530.00 and trade downwards in the short term. Economic Calendar Analysis Today, the US Retail Sales could cause a small move in the markets at 14:30 GMT. On Wednesday, the event of the week is set to
The yellow metal's price continued to plummet on Monday, as by the middle of the day's GMT trading hours the price was close to 1,450.00. Moreover, if this level would fail to hold, the price would reach for the 1,400 level. Economic Calendar Analysis On Tuesday, the US Retail Sales could cause a small move in the markets at 14:30 GMT. On Wednesday,
The decline of the yellow metal passed the support of the 1,600.00 level and reached the 1,560.00 mark. In general, the forecast of a decline had become reality. Economic Calendar Analysis Next week, on Tuesday, the US Retail Sales could cause a small move in the markets at 14:30 GMT. On Wednesday, the event of the week is set to occur, as
On Thursday, the yellow metal's price plummeted down to the monthly pivot point at 1,607.95. Future forecasts were based upon what would happen at this level. Economic Calendar Analysis The week's historical data is available. Click on the link below to see the historical data tables with the reactions to various events. Read More: 09.03-13.03 Event Historical Reactions XAU/USD short-term forecast In the
By the middle of Wednesday's GMT trading hours, the yellow metal's price pierced the 1,670.00 level. During the surge up to this level, the rate broke the resistance of three technical levels and no longer had any resistance as high as the 1,700.00 level. Economic Calendar Analysis There will be only one event that could impact the XAU/USD rate. On Wednesday, March
Various technical support levels could not cause a surge of the metal on Monday. Instead the metal decline to test the 1,650.00 level. Meanwhile, note that at the 1,650.00 level the commodity price met with the support of an ascending wedge pattern. Economic Calendar Analysis There will be only one event that could impact the XAU/USD rate. On Wednesday, March 11, the
After touching a new high level on Monday morning, the yellow metal's price began a decline. The decline found support in the 1,660.00 level. In regards to the near term future, the metal was expected to once again test the 1,700.00 level. Economic Calendar Analysis There will be only one event that could impact the XAU/USD rate. On Wednesday, March 11, the
During Friday morning, the XAU/USD exchange rate was testing the psychological level at 1,690.00. It is likely that bulls could prevail in the market, and gold could continue to appreciate against the US Dollar. Fed Rate Cut The Federal Open Market Committee cut the Federal Funds Rate to a target range of 1.00% to 1.25% at an unscheduled emergency meeting. The
Gold has been consolidating against the US Dollar since the second half of Tuesday. The XAU/USD exchange rate could gain support from the 55- and 200-hour moving averages and trade upwards in the short term. Fed Rate Cut The Federal Open Market Committee cut the Federal Funds Rate to a target range of 1.00% to 1.25% at an unscheduled emergency meeting.
The US Federal Reserve Rate Announcement on Tuesday caused a jump of the yellow metal's price to the 1,650.00 mark. On Wednesday, the metal had bounced off the 1,650.00 level and had found support in the 200-hour simple moving average near 1,635.00. Fed Rate Cut The Federal Open Market Committee cut the Federal Funds Rate to a target range of 1.00%
Since Monday, the yellow metal's price has continued to fluctuate in the range between the 1,590.00 and 1,610.00 levels. However, there was an update on the metal's hourly candle chart. Namely, the 55-hour SMA had reached the price at the middle of Tuesday's GMT trading hours. Economic Calendar Analysis Some might consider watching the ADP Non-Farm Employment Change on Wednesday at 13:15
On Monday, the yellow metal retraced back up to trade near the 1,600.00 level. There the price appeared to consolidate by trading sideways. Economic Calendar Analysis Already on Monday, a data release could cause a notable move. The US ISM Manufacturing PMI is scheduled to be published at 15:00 GMT. Some might consider watching the ADP Non-Farm Employment Change on Wednesday
By the middle of Friday's London trading, the yellow metal had retreated down to the 1,630.00 level. At that mark, the 200-hour simple moving average was met. This event signaled that the metal is no longer overbought. Meanwhile, it could be observed that the metal had remained near the same level throughout this week, despite making attempts to surge. Economic Calendar
On Thursday, the yellow metal's price touched the 1,660.00 level before retracing back to the 1,640.00 mark. In the meantime, it could be observed that the rate was booking higher highs and lower lows. Economic Calendar Analysis No more relevant data for the pair is scheduled to be released during this week. However, next week's data is available. Click on the link below
After touching the 1,625.00 level on Tuesday, on Wednesday, the yellow metal's price had returned to trade between the 55 and 100-hour simple moving averages. As the rate had already broken the 100-hour SMA's support on Tuesday, it was not expected to hold on Wednesday. Economic Calendar Analysis During the week there are no notable events that might impact gold. However, some
On Tuesday, the yellow metal had retreated down to the hourly simple moving averages. By retracing down, the bullion removed some of the overbought pressure that appeared during this week. By the middle of the day's London trading hours, the commodity price had found support in the 100-hour SMA near 1,635.00 and attempted to pass the 55-hour SMA at 1,655.00. Economic
The yellow metal's surge has reached the 1,690.00 level. Moreover, the price has passed the resistance of a monthly pivot point at 1,667.43. In general, it was expected that the bullion's price would soon test the resistance of the 1,700.00 level. Economic Calendar Analysis During the week there are no notable events that might impact gold. However, some economic calendars have US
The surge of the yellow metal has continued, as on Friday the 1,635.00 level was reached. During the latest surge, the commodity price passed the resistance of a monthly pivot point at the 1,628.78 level. Due to that reason the closest by technical resistance was the monthly R2 simple pivot point at the 1,667.43 level. Economic Calendar Analysis Next week there are