With the exception of a short spike above 1,990.00 that was caused by the CPI, the price consolidates at 1,980.00, as it was described as possible on Monday. However, the Fed should finally move the metal's price. Meanwhile, before the event the 50-hour simple moving average was observed to be acting as resistance. Economic Calendar Analysis On Wednesday, the top event of
In general, the 146.50 level and the 200-hour simple moving average were enough to force the USD/JPY into a decline. On Tuesday, the decline eventually was approaching the 145.00 mark, as the US CPI release caused volatility and a slight recovery. Since these event, the rate has been waiting for the publication for the US Federal Funds Rate near the
Like the rest of the markets, the GBP/USD pair waits for the release of the US Federal Reserve rate announcements at 19:00 GMT. Previously, it was expected that the pair would trade between the resistance zone at 1.2590/1.2610 and a support range at 1.2500/1.2515. In the meantime, note that the Tuesday's volatility was caused by the US CPI release, which showed
The pair has remained between support at 1.0740 and resistance of the 1.0820 level, throughout this week. The only exception was the US CPI release on Tuesday that caused an increase of volatility, but no direction was established. The markets wait for the Federal Reserve Rate announcements at 19:00 GMT. The event should easily break the moving averages, weekly pivot
The price for gold had already started a decline, as the US employment data was released on Friday. The higher than expected data sets caused a surge of the value of the USD, which in turn caused a drop of the price for gold. Eventually, the price found some support near the 2,000.00 mark, but an attempted recovery failed at
A combination of two fundamental trends has caused a surge of the USD/JPY. First of all, the US better than expected monthly employment data caused a strengthening of the USD. Secondly, the markets realized that the Bank of Japan has not made a promise to change their policy, but is just evaluating its ultra easy policy. By mid-Monday, the rate had
Prior to the Friday's release of US employment data, the GBP/USD confirmed a resistance zone at 1.2590/1.2610. The zone caused a decline to the support of the 1.2545/1.2550 range. Afterwards, the US data strengthened the US Dollar, which resulted in the pair touching the support of the 1.2500 mark. However, by mid-Monday, the pair had recovered and once again tested the
The EUR/USD made an attempt to surge, prior to the Friday's US employment release. However, it encountered resistance in the 100-hour simple moving average. Afterwards, the US data publication caused a decline below 1.0740, but it was followed by a recovery to the resistance of the 50-hour simple moving average. On Monday, the combined resistance of the 50 and 100-hour SMAs
Gold has been observed to be respecting the resistance of the 2,040.00 mark and periodically the 50, 100 and 200-hour simple moving averages. Namely, it does not appear that an SMA can hold for longer than half-a-day. On Thursday, the price bounced off the combination of the 2,040.00 and the 100-hour simple moving average. The subsequent decline was slowed down by
The Bank of Japan has hinted that it would end its ultra-easy monetary policy next year. The news caused a major drop of the USD/JPY, as it ignored one support level after another. By mid-Thursday, the pair had already reached below 144.00. Economic Calendar On Friday, watch out for the US employment data release. The release is bound to impact the financial
The GBP/USD currency exchange rate has found support in the 1.2545/1.2550 zone. It has resulted in a recovery that has managed to break the resistance of the December channel down pattern. However, as the 50-hour simple moving average approached the pair, it acted as resistance. Economic Calendar On Friday, watch out for the US employment data release. The release is bound to
The EUR/USD has confirmed the support and resistance zone at 1.0800/1.0805 and that there is support at 1.0760. Meanwhile, as the rate has fluctuated sideways, it has pierced the upper trend line of the December channel down pattern. Economic Calendar Analysis On Friday, watch out for the US employment data release. The release is bound to impact the financial markets through the
The consolidation of gains of the metal's price ended with a sharp surge that shortly reached above 2,140.00. Namely, the metal surged by 4.61% as a new month started. However, the gains were quickly erased, as the price returned to levels near 2,020.00. On Wednesday, the price was finding support in 2,020.00 and resistance was provided by the 50-hour simple moving
In general, the USD/JPY currency pair remains below 150.00. Meanwhile, it has been spotted that the pair has been impacted by the round levels in the range from 146.50 up to 148.50. On Wednesday, the rate was located between the 147.00 and 147.50 levels. Economic Calendar On Friday, watch out for the US employment data release. The release is bound to impact
The Pound has made three attempts to move above 1.2720. All of these attempts failed. This week, the rate appeared to have started a decline, as on Wednesday it moved below 1.2600.Meanwhile, it has been observed that Dukascopy traders were positioned short for the decline.Economic Calendar On Friday, watch out for the US employment data release. The release is bound to
Since last week, the US Dollar has continued to strengthen due to the good GDP data giving the needed push. On the EUR/USD charts by mid-Wednesday it had resulted in a decline below 1.0800. Economic Calendar Analysis On Friday, watch out for the US employment data release. The release is bound to impact the financial markets through the value of the US
Since reaching the 2,050.00 mark, the price for gold has remained below it, as the price appears to be consolidating in the 2,040.00/2,050.00 range. From a fundamental perspective it is explained by the strengthening of the US Dollar that was caused by the publication of the US GDP data.In the meantime, traders stick to short positions, expecting the price to
Despite the recent strengthening of the US Dollar that was caused by the US GDP data release, the USD/JPY has declined. The rate appears to have been pushed down by the 50-hour simple moving average. On Thursday morning, the currency exchange rate was once again finding support in the 147.00 mark. Economic Calendar On Thursday, the publication of the US Core PCE
The GBP/USD surge has paused due to additional strength of the US Dollar. Namely, the higher than expected Wednesday's reveal of US GDP has strengthened the US Dollar and forced the pair to trade sideways. It has been spotted that the trading occurs between the resistance of the weekly R2 simple pivot point and support of the weekly R1 simple
On Wednesday, at 13:30 GMT, the United States Bureau of Economic Analysis published the US Preliminary Gross Domestic Product data. The markets expected the US GDP to have increased by 5.0% on a quarter to quarter basis. However, the actual number turned out to be 5.2%. The news strengthened the US Dollar and caused a decline of the EUR/USD. However, the
The price for gold started a major surge at mid-day on Tuesday. The surge eventually reached and pierced the 2,050.00 mark. During the move, the rate shortly paused near 2,040.00, before breaking the ascending channel pattern to the upside. However, during the first half of Wednesday a retracement downwards occurred, as traders took profits before the release of the US Preliminary
The decline of the US Dollar against the Japanese Yen reached below the 147.00 mark at midnight to Wednesday. However, it was followed by a recovery, as the short sellers are taking gains before the release of the US Gross Domestic Product data scheduled for 13:30 GMT. The data set is expected to impact the pair and set its future
The GBP/USD gained additional support from the 50-hour simple moving average and extended its surge. The surge eventually hit the resistance of the weekly R2 simple pivot point at 1.2724 that combined with the fundamental background started a consolidating decline. Namely, the markets wait for the US GDP release at 13:30 GMT, due to which profits from the long positions
The resistance zone at 1.0950/1.0965 failed to hold, as the additional support of the 50-hour simple moving average approached. The follow up surge easily passed above the weekly R1 simple pivot point at 1.0982 and pierced the 1.1000 mark. However, during the first half of Wednesday's trading the pair started a decline. In general, the bulls were taking gains, as they