The USD/JPY started the week's trading with a gap down. The gap opened below the previously drawn patterns. Trump's announcements were being blamed for the drop. Although, it was the reaction of the market on the President's trade related announcement that caused the drop, as no law was signed by Trump. Namely, there is no change in the flow of trade
Brexit volatility is back on the GBP/USD charts. Namely, the UK's political parties are negotiating and quarrelling among themselves. In general, the hourly chart's patterns were broken. The future forecast is described below. Latest Fundamental Event On Thursday, May 2, the Bank of England Monetary Policy Committee voted to hold the Bank Rate unchanged at 0.75%. According to the Bank of England Inflation
EUR/USD got squeezed in on Friday. By the middle of Monday the rate was located between strong support at 1.1180 and the resistance levels at the 1.1200 level. Two scenarios are outlined in the hourly chart's analysis. Latest Fundamental Event On Wednesday, May 1, the Federal Open Market Committee decided to left the key benchmark rate unchanged at the 2.50% level. The US
Gold has traded sideways during the last 24 hours, as its price has consolidated after the sharp drop that occurred since May 1. Meanwhile, the rate still had no technical support as low as 1,263.70. The exception to this was the psychological support provided by the 1,270.00 level. Economic Calendar Analysis On Friday, the US Employment data sets will be published at 12:30
As it was previously forecast, the USD/JPY is getting squeezed in between the support of the 55-hour simple moving average and the resistance of the 200-hour simple moving average. The levels are closing in one on another. It indicates that the currency exchange rate should break out up or down in the near future. Latest Fundamental Event The Federal Reserve released the FOMC
On Friday, GBP/USD signalled that it will drop down to the 1.2970 level. Namely, the rate passed the support levels near 1.3000 level. At the 1.2970 level the currency exchange rate was expected to meet with the support of the 200-hour simple moving average. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Official Bank Rate release on
Short traders continue to gain on Friday, as the EUR/USD continued to decline during the morning hours of the London session. In general, the rate had no technical support levels as low as the 1.1120 level, where a technical support level cluster begins. Latest Fundamental Event The European Common Currency depreciated against the US Dollar, following the US FOMC Statement and Federal Funds
Gold has dropped to the 1,270.00 level. The decline began in the aftermath of the volatility increase that was caused by the Federal Open Market Committee on Wednesday at 18:00. In general, the rate had no additional support besides the 1,270.00 round level as low as 1,263.70. Economic Calendar Analysis On Thursday, the Bank of England announced their monetary policy data and information
The fundamental announcement made by the FOMC on Wednesday caused a surge, which managed to push the currency exchange rate through the various technical resistance levels just below 111.60. In regards to the near term future, the pair is expected to get squeezed in. Latest Fundamental Event Census Bureau released the US Core Durable Goods Orders data that came out better-than-expected of 0.4%
Before the drop that was caused by the FOMC, the GBP/USD reached the 1.3100 level. By the middle of Thursday's trading session the pair managed to find support in the monthly pivot point and the 55-hour simple moving average near 1.3030. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release. The GBP/USD exchange
We congratulate the traders, which had open the 70% of total short position volume on the Swiss Foreign Exchange on Wednesday. The FOMC announcement late on Wednesday caused a drop below the 1.1200 level, from which these traders should have profited. Latest Fundamental Event The European Common Currency appreciated against the US Dollar, following the US ISM Manufacturing PMI data release on
Another attempt of gold to surge has failed. The yellow metal has reached down to the support of the 200-hour simple moving average. Meanwhile, it has been spotted that the hourly candle chart needs a review. It is expected that a full review of the chart will be conducted on Thursday. Economic Calendar Analysis During this week there are various macroeconomic data releases
Instead of reaching the weekly S1 at 111.18 the rate retraced up to the resistance of the 55 and 100-hour simple moving averages together with a new monthly PP at 111.56. Meanwhile, take into account that on the hourly candle chart a new channel down pattern has been added. Latest Fundamental Event Census Bureau released the US Core Durable Goods Orders data that
As expected, the GBP/USD has reached the 1.3000 level. Moreover, it has surged above it and was just below the 1.3080 level on Wednesday morning. At the 1.3000 level the rate will reach the resistance of a large scale descending channel and the weekly R1. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release.
As forecast, the EUR/USD has broken the resistance of the 200-hour SMA and surged higher. On Wednesday, the rate was expected to continue its surge higher, as it was testing resistance at 1.1239. If the rate breaks the weekly R1 at 1.1239, it should reach the 1.1300 level because the pair has no technical resistance as high as 1.1320. Latest Fundamental Event The
Gold found support in the 1,278.00 level. The event resulted in a surge of five dollars by the middle of Tuesday's trading session. Meanwhile, note that the hourly candle chart has been updated. Economic Calendar Analysis During this week there are various macroeconomic data releases that will impact currency exchange rates. Moreover, there will be a Federal Funds Rate announcement. On Tuesday, the Canadian
The USD/JPY broke to the downside and reached down to the 111.30 level during Tuesday's trading session. From a theoretical technical analysis perspective the rate should reach down to the weekly S1 at the 111.18 level. Latest Fundamental Event Census Bureau released the US Core Durable Goods Orders data that came out better-than-expected of 0.4% compared with forecast 0.2%. The US Durable Goods
On Tuesday morning the GBP/USD broke the resistance of the 200-hour simple moving average and began a surge, which was expected to reach 1.3000. At the 1.3000 level the rate will reach the resistance of a large scale descending channel and the weekly R1. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release. The
As the 100-hour SMA moved below the support cluster at 1.1175, it weakened the resistance. This allowed the EUR/USD to surge up to the 1.1200 level on Tuesday. The pair was about to face the resistance of the 200-hour SMA at 1.1200. If that level would get passed, the rate would have no technical resistance as high as the 1.1240 level. Latest
By the middle of Monday's London trading session Gold had dropped down to 1,281.50. The Metal plummeted down to the support of the 55-hour SMA and the 1,280.00 level. However, the previous forecast of a surge on Friday was correct, as the rate surged throuhgout Friday and reached the 1,288.00 level before the decline started on Monday morning. Economic Calendar Analysis During this
The USD/JPY on Monday traded squeezed in between the 55-hour SMA as support at 111.67 and the 100-hour SMA with the weekly PP at 111.80. In general, the rate could break out to both sides. Wait for the break out, which will reveal the short term direction of the currency exchange rate. Latest Fundamental Event Census Bureau released the US Core Durable Goods
The GBP/USD was surging on Monday, as the rate pierced through the resistance cluster near the 1.2940 level. It is expected that the surge will continue and eventually the pair should reach the 1.2960 level, where it would meet with the 200-hour SMA. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release. The GBP/USD
On Monday, the EUR/USD was facing the resistance of a technical level cluster near 1.1175. Namely, the 100-hour SMA, weekly PP and a 61.80% Fibonacci retracement level. In general, the rate was expected to fail at breaking above this level, as it had no technical support that could push it higher. Latest Fundamental Event The European Common Currency depreciated against the US Dollar,
On Friday morning, the price for gold was trading at the psychological level at 1,282.00. Given, that the XAU/USD exchange rate is supported by the ascending trend line, it is likely, that the price could maintain its growth. Economic Calendar Analysis On Friday, at 12:30 GMT the US Advance GDP will be published. This is the top US data set, which has