On Thursday, the US Dollar strengthened due to better than expected US Unemployment Claims and ADP Non-Farm Employment data. This resulted in a decline of the price of gold down to the support of the 1,825.00 level. The support was enough to cause a recovery up to the 1,840.00 level. A move above 1,840.00 is expected to test the resistance of
On Thursday, the US Dollar strengthened due to better than expected US Unemployment Claims and ADP Non-Farm Employment data. The following surge had reached the late December high level zone 134.50. A move above the resistance zone could be slowed down by the 135.00 and 135.50 levels. Higher above, note the weekly R3 simple pivot point at 135.84. On the other
On Thursday, the US Dollar strengthened due to better than expected US Unemployment Claims and ADP Non-Farm Employment data. By the middle of Friday's trading, the follow up decline had reached below 1.1850 and was located near the weekly S2 simple pivot point's support at 1.1839. If the Pound continues to decline against the US Dollar it might find support in
On Thursday, the US Dollar strengthened due to better than expected US Unemployment Claims and ADP Non-Farm Employment data. On the EUR/USD chart it resulted in a decline below the 1.0575/1.0595 zone. By the middle of Friday's trading hours, the pair had reached the 1.0500 mark. A move below 1.0500 level might look for support in the 1.0450 and 1.0400
The price for gold has reached above 1,850.00. On Wednesday morning, the pair touched the 1,865.00 level, which acted as resistance and the commodity retraced to look for support in 1,850.00. If the metal's price continues to decline and reaches below 1,850.00, the 50-hour simple moving averages might act as support near 1,840.00. Further below, note the support of the 1,830.00
On Wednesday, the USD/JPY surged and managed to reach above 131.50. By the end of the day's European trading hours, the pair had reached above 132.50. An extension of the ongoing surge could encounter resistance in the 133.00 level and the weekly R1 simple pivot point at 133.46. Higher above, note the 134.00 level and the range around 134.50. A potential
The GBP/USD pair has managed to recover, as on Wednesday it was encountering resistance in the weekly simple pivot point at 1.2089. Meanwhile, support was found in the 1.2000/1.2025 zone. A move above the 1.2089 level is expected to encounter resistance in the 1.2100/1.2125 zone. A move above 1.2125 could encounter resistance in 1.2150 and the weekly R1 simple pivot point
On Wednesday, the EUR/USD reached the combined resistance of the weekly R1 simple pivot point at 1.0629 and the 100 and 200-hour simple moving average. Afterwards, the pair was finding support in the 1.0575/1.0595 zone. At 19:00 GMT the US Federal Reserve Meeting Minutes were released, which revealed that the Fed is not considering any rate cuts in 2023.
The price for gold continued to surge, as it eventually managed to break the 1,825.00 mark and the December high level at 1,833.20. On Tuesday morning, the commodity price reached the 1,850.00 mark. However, as the US futures markets opened, major demand for the USD caused a decline of all commodities. By mid-day, the price had retraced to the 1,830.00
With the opening of the US futures market, the USD experienced major demand, which pushed the USD/JPY currency pair up to the combined resistance of the 131.00 mark and the 50-hour simple moving average. However, prior to the recovery the pair had reached the 129.50 level. A move above the 131.00 mark might encounter resistance in the 131.50 level, prior to
The opening of the US futures market caused major demand for the US Dollar, which beat down currency exchange rates. The GBP/USD sharply plummeted to the 1.1900 mark, where it found support. By mid-Tuesday it appeared that the weekly S1 simple pivot point and the 1.1940 level were acting as resistance. A move above 1.1940 might aim at the 1.2000 mark,
As the US futures markets started 2023 trading on Tuesday morning, the US Dollar strengthened. As a result the EUR/USD plummeted, as by 11:00 GMT, the pair had reached 1.0520. An extension of the ongoing decline might look for support in the weekly S3 simple pivot point at 1.0514 and the 1.0500 mark. Further below, note the December support levels
Most recently the price for gold has been finding support in the 1,815.00 level an resistance was encountered at 1,825.00. In the meantime, the pair was being approached from below by the 50, 100 and 200-hour simple moving averages near 1,810.00. A move above 1,825.00 level could encounter resistance in the December high level at 1,833.20. Higher above, note that the
The USD/JPY encountered resistance in the 134.50 level, before starting a broad decline. By the start of 2023, the pair had reached below 131.00 mark, which acted as resistance. Meanwhile, support appears to be provided by the December 20 low level at 130.57. A move below 130.57 could look for support in the 130.00 mark, the weekly S1 simple pivot point
Since December 22, the GBP/USD currency pair has been trading between the support zone above 1.2000 and resistance above 1.2100. Namely, support is found in 1.2000/1.2025 and resistance at 1.2100/1.2125. Meanwhile, the pair has largely ignored the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point. A move below 1.2000 could look for support in the 1.1950
During the holidays, the EUR/USD recovered and reached the 1.0700 mark. However, on January 2 the currency exchange rate traded below the round level. Meanwhile, support appeared to be provided by the combination of the weekly simple pivot point at 1.0671 and the 50-hour simple moving average. A resumption of the surge would have to reach above 1.0700. Higher
After the Federal Reserve hiked its base interest rate and with it strengthened the US Dollar, the price for gold declined. Since early December 15, the price has been consolidating between the 1,775.00 and 1,785.00 levels. A continuation of the decline of the commodity price could look for support in the 1,763.55/1,766.15 zone, before the 1,750.00 level or the previous low
The post Federal Reserve rate hike surge of the USD/JPY encountered resistance in the 137.95/138.20 zone. The following decline was looking for support. Support might be provided by the 137.00 level, the 136.50 mark and the 50, 100 and 200-hour simple moving averages. Further below, note the 136.00 and 135.50 levels, which have acted as support and resistance. Meanwhile, a surge of
In general, the GBP/USD respects round levels as support and resistance, but the direction is set by fundamentals. Namely, the US central bank was more hawkish in its policy than the Bank of England, as two members of the BoE policymaking committee voted to keep rates unchanged instead of the 0.50% rate hike. Due to these reasons the GBP/USD is
The European Central Bank has just now hiked its Main Refinancing Rate and has published its Monetary Policy Statement. The base interest rate has been hiked from 2.00% up to 2.50%. Afterwards, at 13:45 GMT, the President of the bank Christine Lagarde revealed that the central bank expects inflation to remain persistent and rates should remain higher. Due to
The Federal Reserve rate hike and following press conference caused a surge of the US Dollar. On the gold price charts it resulted in a drop below the support of the 1,805.00 level. After the event, the price declined below 1,795.00. By mid-Thursday, the price was at 1,775.00. A continuation of the decline of the commodity price could look for support
The United States Federal Reserve hiked its Federal Funds Rate by 0.50%. The market consensus forecast was a 0.50% hike, which has brought the rate from 4.00% up to 4.50%. The initial rate hike caused a surge of the US Dollar, drop of the equity markets and surge of peer currencies. The event was followed by the press
The United States Federal Reserve hiked its Federal Funds Rate by 0.50%. The market consensus forecast was a 0.50% hike, which has brought the rate from 4.00% up to 4.50%. The initial rate hike caused a surge of the US Dollar, drop of the equity markets and surge of peer currencies. The event was followed by the press
The United States Federal Reserve hiked its Federal Funds Rate by 0.50%. The market consensus forecast was a 0.50% hike, which has brought the rate from 4.00% up to 4.50%. The initial rate hike caused a surge of the US Dollar, drop of the equity markets and surge of peer currencies. The event was followed by the press