Despite passing above simple moving averages, the price for gold experienced a sharp decline on Wednesday afternoon. The price declined to the support of the 2,373.70/3,400.00 range. Afterwards, on Thursday afternoon, the publication of the much higher than expected US GDP caused a drop of the commodity price below the range. Moreover, the range was confirmed as resistance and the
The USD/JPY continued to decline and eventually reached the 152.00 mark. This level acted as support and has forced the rate to retrace back up to as high as the combined resistance of the 100-hour simple moving average and the resistance line that has guided the rate down since July 10. Meanwhile, note that the July support trend line was
The rate has encountered resistance near 1.2940 and declined to the support of the 1.2845/1.2855 range. The range is keeping the rate from declining further. However, the 50 and 100-hour simple moving averages are approaching from above and could push the rate down. Meanwhile, it has been spotted that the decline has occurred in a channel down pattern. In the
The EUR/USD has been trading around the 1.0850 mark for most of the week, as it has been bounced around by US data releases. Meanwhile, the pair has revealed a new support and resistance range at 1.0825/1.0830. On Friday, the rate was finding support in the 1.0840/1.0850 range and minor resistance was provided by the 100-hour simple moving average. However,
During the first half of 2024, the price for Dukascoin has remained in same range. However there as a spike of prices upwards in early May. The asking price has been bouncing around the 1.55 mark, as it has fluctuated between 1.40 and 1.68. In the meantime, the bid price, has been mostly in the 1.35/1.40 range. However, there have been
The 2,390.00/2,400.00 range eventually held and provided support to the price for gold. However, it was pierced at mid-Tuesday. Due to this reason the range is being adjusted to 2,383.70/2,400.00. On Wednesday, the recovery faced the resistance of the 100-hour simple moving average and the 2,420.00 level. Economic Calendar Analysis On Thursday, the US Advance GDP might impact the markets via an
The broader decline of the USD/JPY has resumed. The combination of the weekly simple pivot point, the 50 and 100-hour simple moving averages and the declining resistance trend line held and a descent of the rate followed. By mid-Wednesday, the pair had reached below the 154.50 level. Meanwhile, the 155.00 mark acted as resistance. In the meantime, Dukascopy traders have
The GBP/USD had reached below the 1.2900 mark, but found support at 1.2880. On Wednesday morning, the rate was fluctuating between these two levels, as the UK S&P 500 Purchasing Managers Indices were released. The better than expected data caused a surge of the Pound against the US Dollar above the 1.2900 level. However, resistance was encountered in the 50-hour
The EUR/USD currency pair has passed below the 1.0870/1.0880 and 1.0840/1.0850 ranges. The first range was passed, as the rate faced the resistance of technical levels and the 1.0900 mark. Afterwards, 1.0840/1.0850 failed due to the release of disappointing European Purchasing Managers Index survey results. Meanwhile, it was spotted that Dukascopy traders have taken profits. Traders were 75% short on
The price for gold broke above the prior all-time-high level. However, the follow up surge eventually ended near the 2,480.00 mark. The 2,481.00/2,483.85 range was confirmed as resistance. Since these events, the price for gold has established a channel down pattern that has guided the price back below 2,400.00. Meanwhile, Dukascopy traders have remained 75% short since the start of
Last week, the USD/JPY rate reached the 155.50 level, which acted as support. The follow up recovery found resistance at 157.70/157.85. On Monday, the broader decline appeared to have resumed. Meanwhile, it was observed the rate continues to find support and faces resistance at round exchange rate levels. Economic Calendar On Wednesday, various exchange rates could react to the publication of
After failing to reach the 1.3050 mark, the GBP/USD overextended its surge at 1.3045, booked a new 2024 high level and started a decline. Eventually, the pair found support in the 1.2900 mark. Economic Calendar On Wednesday, various exchange rates could react to the publication of the Markit Services and Manufacturing Purchasing Managers Indices. They are called indices, but in fact
The EUR/USD has been moving in reaction to US data, comments on Federal Reserve policy and the ECB announcement. In general, the rate has been pushed up and down, but it is still near the 1.0900 level. Support is found in the 1.0870/1.0880 range and resistance has been confirmed to be located at 1.0940/1.0950. On Monday, the rate was located
The price for gold found enough support in the 2,350.00 to start a recovery. Afterwards, the price for Gold gained additional strength from the US CPI. By Monday, July 15, the commodity price was heading to the 2,450.00 level which mark's the all-time-high. Economic Calendar Analysis On Tuesday, watch the publication of the US Retail Sales at 12:30 GMT. The markets
The USD/JPY broke out of the triangle pattern and started a surge that was eventually approaching the 162.00 level. As the pair approached the 162.00 mark, the US CPI release caused a major drop of the US Dollar. On the USD/JPY charts, the event resulted in a decline to the 157.30/157.40 range that has turned into support. Afterwards, an attempted recovery
The last week's breaking of the 1.2800/1.2820 range has been followed up by a surge to the 1.3000 mark. The 1.3000 is acting as resistance and keeping the GBP/USD down. Economic Calendar On Tuesday, watch the publication of the US Retail Sales at 12:30 GMT. The markets could move due to an adjustment in the USD value. GBP/USD hourly chart analysis The approaching
The bullish scenario has taken place on the EUR/USD charts, as the pair broke above 1.0850 and confirmed this level as support. By July 15, the rate had reached above 1.0900 level and was testing the resistance of the 1.0920 level. Economic Calendar Analysis On Tuesday, watch the publication of the US Retail Sales at 12:30 GMT. The markets could move due
US employment data further weakened the US Dollar. The price for gold reacted to the news by surging and almost reaching the 2,400.00 mark. However, the resistance worked and the rate was descending and consolidating while looking for support. On Monday, the support appeared to be found in the 2,370.00 level and the 50-hour simple moving average. Economic Calendar Analysis This
The decline of the USD/JPY appears to have found support in the late June low level zone. Namely, the 160.25/160.30 range acted as support on Monday. However, by mid-day the rate had encountered resistance in a trend line that connects the pair's recent lower high levels. In general, the pair could get squeezed in. In the meantime, it was spotted
Friday's US employment data revealed that the US economy is slowing down, as unemployment increased. This in turn signals that the US Federal Reserve can cut interest rates and weaken the USD. Meanwhile, the UK elections were rather calm. On the GBP/USD charts, it resulted in the pair passing above the 1.2800/1.2820 resistance range, as the Pound has strengthened, compared
In the aftermath of the US employment release, the EUR/USD still trades between two ranges of support and resistance. Namely, resistance is provided by the 1.0840/1.0850 range and support is found at 1.0790/1.0800. Meanwhile, open position data indicates that Dukascopy traders have booked profits and went short. Open positions were 57% long on Thursday. On Monday, traders were already 67%
The price for gold was facing the resistance of the 2,340.00 level and continued to fail at all attempts to reach above it. Meanwhile, the 100-hour simple moving average was acting as support. On the daily candle chart, there was another squeeze going on. However, the technical chart was just representing the fundamentals. The markets were waiting for what the
The surge of the US Dollar against the Japanese Yen had encountered resistance at the 162.00 mark and the rate was looking for support to resume the surge. Support appeared to be once again found in the 50-hour simple moving average near 161.50. However, then US fundamental data was published and the pair plummeted. In general, the Chairman of the
Fundamentals have moved the financial markets. In general, Jerome Powell stated on Tuesday that the Fed needs more data before cutting interest rates. On Wednesday, various US data sets were released either below expectations or at forecast. This caused the drop. On the GBP/USD charts it has resulted in a surge above the 1.2750 level. In the meantime, it has