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
As expected, the USD/JPY currency exchange rate approached the 106.00 level. However, the rate touched the 105.94 level and reversed. On Wednesday, the rate was trading above the technical support levels that were located from 104.57 to 103.78. Economic Calendar On Wednesday, March 11, the US CPI and Core CPI will be published at 12:30 GMT. The USD/JPY had moved at the
The GBP/USD dropped on Tuesday, as the Bank of England unexpectedly cut interest rates. By the middle of Wednesday's London trading hours, the currency exchange rate had shortly touched the 1.2850 mark. Bank of England Rate Cut The British Pound depreciated against the US Dollar, following the UK Monetary Policy Summary release on Wednesday at 07:00 GMT. The
The decline of the EUR/USD reached the 1.1300 level, as expected. Moreover, the rate reached the monthly R2 simple pivot point at 1.1285. In regards to the near term future, the rate was expected to face the resistance of the 55-hour simple moving average. Economic Calendar Analysis During the week there will be couple events that could impact the EUR/USD pair. On Wednesday,
Since reaching the 1.7500 level, the DUK+/EUR currency exchange rate has traded flat just above that exchange rate level. In the meantime, it appeared that the sideways trading could end with a sharp move. The rate had no resistance as high as 1.8600, and the closest by support was located at 1.7000. Daily Candle Chart On the daily candle chart, it
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
The 102.00 level managed to provide enough support for the USD/JPY to recover. By the middle of Tuesday's GMT trading hours, the rate had reached the resistance of the 100-hour simple moving average at 105.18. If this level would get passed, the 106.00 mark could be reached. Economic Calendar On Wednesday, March 11, the US CPI and Core CPI will be published
On Tuesday, the GBP/USD currency exchange rate passed the support of the 55-hour simple moving average. By the middle of the days GMT trading hours, the pair had no support as low as the 1.3000 mark. Economic Calendar During the week, there will be couple events that could affect the GBP/USD rate. On Wednesday, March 11, the British GDP and Manufacturing
On Tuesday, the 55-hour simple moving average caught up with the EUR/USD currency exchange rate. The support of the SMA failed to push the rate up. Due to that reason, by the middle of Tuesday's GMT trading hours, the rate was most likely set to decline to the support levels near 1.1300. Economic Calendar Analysis During the week there will be
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
The decline of the USD/JPY has experienced another sudden drop. On Friday, the rate dropped to the 102.00 level. On Monday, the currency exchange rate traded sideways between the 102.70 and 102.00 level. The pair appeared to be consolidating the sharp decline. Economic Calendar On Wednesday, March 11, the US CPI and Core CPI will be published at 12:30 GMT. The USD/JPY had
The GBP/USD pair has reached the 1.3200 level, which provided resistance. On Monday, the currency exchange rate traded near the 1.3100 level, where it had retreated as a part of a consolidation, which was caused by the previous sharp surge. Economic Calendar During the week, there will be couple events that could affect the GBP/USD rate. On Wednesday, March 11, the
The EUR/USD has continued to surge. On Friday, the currency exchange rate touched the 1.1500 level. On Monday, the rate traded sideways between the 1.1370 and 1.1470 level. The pair appeared to be consolidating in the aftermath of the recent sharp surge. Economic Calendar Analysis During the week there will be couple events that could impact the EUR/USD pair. On Wednesday, March
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
During Friday morning, the USD/JPY currency pair declined below 105.50. Note that the pair is trading near the 2019 minimum located at 104.67. 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 policymakers announced the cut of the interest rate by a
During Friday morning, the GBP/USD exchange rate surpassed the weekly R1 at 1.2985. It is likely that bulls could prevail in the market in the short term, and the rate could remain above 1.3000. 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
On Friday morning, the EUR/USD currency pair exceeded 1.1300 level. The pair could gain support from the monthly R2 and continue to extend gains in the short term. US ISM Non-Manufacturing PMI The Euro depreciated against the US Dollar, following the US ISM Non-Manufacturing PMI survey results release on Wednesday at 15:00 GMT. The EUR/USD exchange currency rate lost
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 USD/JPY currency pair remains under pressure of the 55-hour moving average near 107.50. During Thursday morning, the pair was testing the Fibo 23.60% at 107.02. If the given level holds, the pair could consolidate. 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
During Thursday morning, the GBP/USD exchange rate jumped was testing the resistance level formed by the Fibonacci 38.20% retracement and the monthly PP at 1.2920. If the given resistance does not hold, some upside potential could prevail in the market. Fed Rate Cut The Federal Open Market Committee cut the Federal Funds Rate to a target range of
On Wednesday, the EUR/USD currency pair reversed north from the support level - the weekly R1 at 1.1120. In general, the pair could continue to consolidate in the 1.1120/1.1200 area . US ISM Non-Manufacturing PMI The Euro depreciated against the US Dollar, following the US ISM Non-Manufacturing PMI survey results release on Wednesday at 15:00 GMT. The EUR/USD exchange
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%
The 55-hour SMA has pushed the USD/JPY currency exchange rate to a new low level. Namely, the 107.00 was tested on Tuesday. The 107.00 was providing psychological support and was strengthened by a 23.60% Fibonacci retracement level. 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
On Wednesday, the GBP/USD was retreating after it had bounced off the resistance of the 100-hour simple moving average. By the middle of the day, the rate had begun to trade around the 55-hour SMA. The future of the rate was dependant on whether or not the SMAs manage to push the rate down or not. Fed Rate Cut