Since Monday, the metal's price has made four attempts to pass the 2,530.00 level. The attempts failed. Meanwhile, it was spotted that the hourly simple moving averages are failing to impact the metal. However, the commodity price keeps finding support near 2,500.00. The prior potential scenario descriptions remain valid. A breaking above the 2,530.00 level is expected to be slowed
The USD/JPY pair has managed to breach the resistance of the 145.00 level. In addition, after the first pass above 145.00, the rate retraced back down and revealed the location of a channel up pattern's support range. The ongoing surge of the USD/JPY currency pair is expected to encounter resistance in the 146.25/146.50 zone, before continuing on higher and facing
The Pound's decline against the US Dollar has reached the 1.3120/1.3130 support zone. In addition, the pair has revealed a channel down pattern that has guided the rate's decline. A recovery of the rate would have to pass above the 200-hour simple moving average, before approaching the 1.3180 level's resistance, combined with the 50-hour SMA. Above these levels, the upper trend
The decline of the EUR/USD has reached the support zone at 1.1040/1.1060. Meanwhile, it has been spotted that the rate has been declining in a channel down pattern. A continuation of the ongoing decline would have to pass below 1.1040. Further below, the lower trend line of the channel pattern might slow down the pair's descent, before the 1.1000 mark
This week, the metal's price has made two attempts to pass the 2,530.00 level. Both attempts failed. Meanwhile, it was spotted that the hourly simple moving averages are failing to impact the metal. However, the commodity price keeps finding support near 2,500.00. A breaking above the 2,530.00 level is expected to be slowed down by round price levels, as the
Since Monday, the USD/JPY pair has been consolidating by trading sideways between the support of the 143.50 level and the 145.00 level's resistance. In general, the situation has not changed since Monday, besides the fact that the 50 and 100-hour simple moving averages appear to have minor to no impact on the pair. A potential recovery of the US Dollar
The surge of the Pound against the USD eventually exhausted itself near the 1.3250 level. The reaching of this level was followed by a decline to the 1.3170./1.3180 range that provided support. Since then, the rate has traded between this range and the resistance of the 1.3220/1.3230 range. The pair remained between this range, despite Thursday morning news of decreasing
The EUR/USD attempted to pass the resistance of the 1.1190/1.1200 range for a second time, before failing. The failure was followed by a broader decline, which passed the 50, 100 and 200-hour simple moving averages, broke the ascending channel pattern, reached below the weekly simple pivot point. However, then the 1.1100/1.1105 range held, and it appeared that the rate
Despite declining on Thursday, the price for gold eventually found support in the 2,470.00 mark. Since then, a recovery has taken place. On Friday, the speech by Jerome Powell added strength to the recovery. By mid-Monday, the commodity price was approaching the all-time high levels near 2,530.00. A breaking above the 2,530.00 level is expected to be slowed down by
The comments made by the head of the US Federal Reserve caused a decline of the US Dollar against other currencies. On the USD/JPY charts, it was consisted with a bounce off from the 146.00/146.50 range. By mid-Monday, the decline had found support in the 143.50 level. A potential recovery of the US Dollar against the Japanese Yen could find
The speech done by Jerome Powell caused a decline of the US Dollar. The GBP/USD currency pair surged due to the speech and even managed to reach above 1.3200. In the meantime, it is more notable that the pair has revealed support and resistance trend lines and low and high level zones. In the near term future, the currency pair could
During the Jackson Hole event, the Chairman of the Federal Reserve, Jerome Powell, stated that the central bank is set to cut interest rates. Due to this reason, the US Dollar's value plummeted. On the EUR/USD charts, it resulted in the pair breaking the 1.1160/1.1175 range. However, eventually the pair stopped at the 1.1200 mark. On Monday, the currency rate
In general, the price for gold continues higher, as it surges step by step. Namely, a new high is reached then the price retreats to find support in a prior high level, before resuming the surge up to a higher high level. In the near term future, the pair is expected to look for support in the 2,500.00 mark and
Despite reaching above the 146.00/146.50 range, the rate did not extend its recovery far. The surge stopped and reversed near the resistance of the 50, 100 and 200-hour simple moving average. Eventually, the decline reached the support of the 145.00 mark, which reversed the decline. By mid-Wednesday, the pair was once again testing the 146.00/146.50 zone. In general, prior
The surge of the GBP/USD has resumed and gained more than expected. The Pound has broken the channel up pattern to the upside. In addition, the rate has passed the 1.3000 mark and eventually reached the 2024 high level on Tuesday. Moreover, the 2024 high did not hold, as it was shortly passed. The rate stopped and appears to be
The surge of the EUR/USD has passed the 1.1100 level. Resistance has been encountered in the weekly R2 simple pivot point at 1.1130. If the pair declines, support is expected to be found in the 1.1100 mark and the 50-hour simple moving average. Further below, note the weekly R1 simple pivot point at 1.1076. This level has acted as
The 2,500.00 mark was broken on Friday. However, the event has been followed by a decline of the commodity price. Moreover, the decline has reached below 2,500.00. An extension of the downwards move of the price is expected to look for support in the 2,477.00/2,484.00 range and the ascending 50 and 100-houe simple moving averages. A resumption of the surge is
As the market started the week's trading, the Yen strengthened during the Asian trading hours. By the time Europe woke up, the move had resulted in the USD/JPY rate reaching below the 145.50 level. However, buying started and by midday the rate was testing the resistance of the 146.00/146.50 range. If the pair resumes the prior decline, support is expected
The surge of the GBP/USD currency pair has continued, as the pair has reached the upper trend line of the channel up pattern. On Monday, the pattern's trend line was pierced. However, after the event, the pair returned to the 1.2950 level. A continuation of the surge would have to break the channel's trend line, before approaching the resistance of the
On Friday, the EUR/USD managed to pass the 1.1000 mark's resistance on the second attempt. By mid-Monday's trading, the rate had managed to move above the prior August high level range near 1.1040. However, the 1.1050 mark had acted as resistance, which indicates that the resistance range is broader than previously marked. A potential surge above 1.1050 could be slowed
The price for gold has finally hit the 2,500.00 mark. The commodity reached the new high level by breaking the resistance ranges of prior high levels that had kept the price down since August 11. However, note that the 2,500.00 mark is acting as resistance. The round price has caused a decline, which resulted in the metal looking for
The US Dollar was boosted by the US Retail Sales release, which caused a surge of the USD/JPY currency pair above resistance ranges that eventually turned into support. However, on Friday it was observed that there was no follow up to the prior surge, as the pair declined and by midday was below the 148.00 mark. A continuation of the
Since the last review, the pair has been highly volatile due to US data releases. However, all the moves still occurred between our marked support and resistance ranges. As the volatility settled down, the rate managed to break above the 1.2860/1.2870 range. By mid-Friday, the currency rate had passed above 1.2900. Although, the event was not followed by a further
The EUR/USD was finding support in the 1.1000 mark, as the US Retail Sales release caused a major decline. Eventually, the decline of the pair found support in the 1.0935/1.0950 zone. By mid-Friday, the pair had recovered to the 1.1000 mark, but at the time of writing it was observed that the resistance was holding and a decline started. The