The US monthly Consumer Price Inflation has increased by 0.1% instead of the forecast 0.3%. Year-on-year inflation is at 7.1%, compared to forecast 7.3%. Meanwhile, core CPI month-on-month is at 0.2% instead of 0.3%. The lower than expected US inflation caused a drop of the US Dollar. The price for gold surged and hit the 1,825.00 level due to the
The US monthly Consumer Price Inflation has increased by 0.1% instead of the forecast 0.3%. Year-on-year inflation is at 7.1%, compared to forecast 7.3%. Meanwhile, core CPI month-on-month is at 0.2% instead of 0.3%. The lower than expected US inflation caused a drop of the US Dollar. The USD/JPY plummeted on the news down to the 135.00 mark. Moreover, after
The US monthly Consumer Price Inflation has increased by 0.1% instead of the forecast 0.3%. Year-on-year inflation is at 7.1%, compared to forecast 7.3%. Meanwhile, core CPI month-on-month is at 0.2% instead of 0.3%. The lower than expected US inflation caused a drop of the US Dollar. The GBP/USD surge almost reached the 1.2450 mark, before retracing to find support
The US monthly Consumer Price Inflation has increased by 0.1% instead of the forecast 0.3%. Year-on-year inflation is at 7.1%, compared to forecast 7.3%. Meanwhile, core CPI month-on-month is at 0.2% instead of 0.3%. The lower than expected US inflation caused a drop of the US Dollar. The EUR/USD surged to the resistance of the weekly R2 at 1.0675, Afterwards,
The price for gold has passed below the support of the 100 and 200-hour simple moving averages and the 1,784.20/1,786.00 range. However, during late Monday's trading, support was found in the 1,780.00 level and the price retraced back above 1,785.00, as it ignored technical levels. The metal is ignoring technical, as the market expects the publication of the US Consumer
The USD/JPY has approached the 137.70/137.85 range and shortly even moved above it. On Tuesday morning, it appeared that the pair was consolidating by trading sideways below the resistance zone and near the 137.50 level. A decline of the US Dollar against the Japanese Yen might look for support in the combination of the 50 and 100-hour simple moving averages near
The Monday's decline of the GBP against the US Dollar found support in the 100-hour simple moving average near 1.2220. Afterwards, the rate found resistance in the 1.2300 mark. During the first half of Tuesday's trading, the pair remained below the 1.2300 level. A surge above 1.2300 could encounter resistance in the Friday's high level at 1.2320, before approaching the weekly
The EUR/USD remained near previous levels during Tuesday's early trading hours, as the pair waited for the US Consumer Price Index to be released at 13:30 GMT. In the short term, a surge of the Euro against the US Dollar could test the combined resistance of the 1.0600 mark and the weekly R1 simple pivot point at 1.0603. However, note
On Friday, the 1,803.30/1,809.90 range forced the price for gold into a decline. It was coincidental with the publication of the United States Producers Price Index being higher than expected. Namely, the higher inflation data set indicates that the US monetary policymakers might increase interest rates and thus strengthen the US Dollar. The following decline found support on Monday
On Friday, the USD/JPY currency pair found support in the 135.60/135.75 zone. By the middle of Monday's trading hours, the pair had reached above the 137.00 mark. Meanwhile, support appeared to be provided by the 50, 100 and 200-hour simple moving averages near 136.50. A continuation of the recovery might be slowed down by the 137.50 level, before the pair reaches
On a month-on-month basis the United Kingdom gross domestic product has increased by 0.5%, instead of the market consensus forecast of 0.4%. The higher than forecast GDP revealed that the Bank of England has room for interest rate hikes. Due to that reason, the Pound surged against peer currencies. The GBP/USD surged nearly 34 base points or 0.27%. Coincidentally, the event
The EUR/USD failed to reach the 1.0600 mark. Instead, a retracement from the 1.0580 down to the 1.0500 mark has occurred. On Monday, the pair surged and was located near the 1.0550 level. In the short term, a surge of the Euro against the US Dollar could test the combined resistance of the 1.0600 mark and the weekly R1 simple
On Friday, the price for gold managed to pass above the resistance of the 1,795.00 level. Although, by large, the situation had not changed since Thursday. A continuation of the surge of the commodity price could encounter resistance in the 1,800.00 level and the 1,803.30/1,809.90 range. However, a decline is set to look for support in the 50, 100 and 200-hour simple
On Friday morning, the USD/JPY shortly traded below the weekly simple pivot point at 135.93 and the 136.00 mark. However, by 08:00 GMT the rate had recovered and approached the 136.50 level and the 50, 100 and 200-hour simple moving averages. A resumption of the decline might pass below 136.00 and the weekly simple pivot point at 135.93 and look for
On Friday morning, the GBP/USD reached above the 1.2250 level, as the recovery of the Pound against the USD continued. If the 1.2250 level acts as support and causes a surge, the 1.2300 and 1.2350 levels are highly likely to act as resistance, as they stopped the last week's surge. However, a decline of the Pound against the US Dollar below 1.2250
On Friday morning, the EUR/USD step by step continued with its recovery, as by 08:00 GMT the pair was above 1.0580. An extension of the ongoing surge of the Euro against the US Dollar might encounter resistance in the 1.0600 mark and the weekly R1 simple pivot point at 1.0622. Note that the 1.0600 level represents a strong resistance
The support of the 200-hour simple moving average was enough for the price of gold to move above the 50 and 100-hour simple moving averages and the 1,785.20/1,786.30 range. During Thursday's trading, the metal encountered resistance in the 1,795.00 level, before retracing to the zone, which appeared to have turned into support. A continuation of the surge of the commodity price
The USD/JPY passed the ascending support trend line in a sharp move, which eventually paused near 136.30. Throughout Thursday's trading, the pair fluctuated between 136.30 and 137.20. A move below the 136.30 level and the 100-hour simple moving average might look for support in the 136.00 level and the weekly simple pivot point at 135.93. Further below, round price levels could
On Thursday, the GBP/USD pair found support in the weekly simple pivot point at 1.2162 and surged to the 1.2250 level. In the case of the pair moving above 1.2250, the 1.2300 and 1.2350 levels are highly likely to act as resistance, as they stopped the last week's surge. However, a decline of the Pound against the US Dollar might
The recovery of the EUR/USD initially stalled at the 1.0550 level. However, after retracing down and finding support in the 50-hour simple moving average, the pair eventually surged above 1.0550. An extension of the ongoing surge of the Euro against the US Dollar might encounter resistance in the 1.0600 mark and the weekly R1 simple pivot point at 1.0622.
The recovery from the 1,764.00/1,766.15 range found resistance in the 1,780.00 level. Afterwards, a decline appears to be finding support in the 200-hour simple moving average near 1,770.00. By mid-Wednesday, the price remained above the 200-hour SMA, as the 50-hour SMA approached from above and acted as resistance. Namely, the price is expected to get squeezed in between the SMAs
By mid-Wednesday, the USD/JPY currency pair reached the 137.80 level. Meanwhile, it was spotted that the pair might be supported by an ascending supporting trend line. A continuation of the appreciation of the US Dollar against he Japanese Yen is set to test the following levels. The 138.00 mark, the weekly R1 simple pivot point at 138.24, the 138.50 and
The weekly simple pivot point at 1.2162 eventually failed to keep the pair up and on Wednesday morning the GBP/USD almost reached the 1.2100 level. However, by mid-day the rate had recovered and reached the 1.2180 level, where resistance was provided by the 50-hour simple moving average. A move above 1.02180 might immediately encounter resistance in the 1.2200 level, the 100-hour
The EUR/USD eventually passed below the support of the 100-hour simple moving average near 1.0490 and the weekly simple pivot point at 1.0456. However, on Wednesday morning, the pair found support in the 200-hour simple moving average near 1.0440. In addition, it appears that the 1.0450 level acted as support. By the middle of Wednesday's trading, the rate had