The decline of the EUR/USD has stopped as the Dollar strengthened throughout the week. The 1.0500 mark was reached and acted as support. Sideways trading has been ongoing for quite some time. In the meantime, the 50-hour and 100-hour simple moving averages are within the previous week's FX rate range, thus creating a higher probability scenario for a reversal if market
Compared to its year-to-date performance, gold underperformed in the previous week, with no significant price movement. Although inflows into gold investment products continued, there was no notable price movement during the week. Economic Calendar Analysis No significant price movements are expected this week from macroeconomic data releases. XAU/USD short-term forecast In the short term, gold continues to trade sideways within a range of
Elevated levels of volatility have been a feature of the second half of the calendar year 2024 for USD/JPY. However, the previous week has been relatively calm, considering the US dollar's dominance in the broader market. Economic Calendar The week will be calm. There are no events that could impact the rate up to Friday. The only fundamental data that could impact
Although the previous week saw some volatility in the GBP/USD currency pair, it helped the pair gain momentum and steadily rise above the 1.27000 level. Further confirmation of the overall trend should occur in the upcoming weeks, provided there are no sudden global changes. Economic Calendar This week, the Office for National Statistics in the UK will report month-on-month changes in the
The decline of the EUR/USD has stopped, as the Dollar strengthened throughout the week. The 1.0500 mark was reached that acted as support. In the meantime, the 50 and 100-hour simple moving are within previous weeks fx rate range, thus creating a higher probability scenario of a reversal if there would be market parameters that would allow such condition. Economic Calendar
Although gold has seen short term volatility since the world braces for presidency of Donald J. Trump, year to date, gold has seen price raise of over 30%. Not only as a portfolio hedge to uncertainty but as a trading instrument as well, gold has been useful to seek outsized returns, this year if properly applied. Economic Calendar Analysis The week could
Since its November high, USD/JPY has dropped more than 5%, with just three bullish candles in the last 12 sessions, hinting that the downtrend may be close to reversing. Bullish signals are also showing on both the daily and 4-hour RSIs in the oversold zone. Economic Calendar Next week should not bring any unexpected volatility, considering that the importance of economic events
The decline of the EUR/USD has stopped, as the Dollar strengthened throughout the week. The 1.0500 mark was reached that acted as support. Upcoming week will test 1.0500 level In the meantime, the 50 and 100-hour simple moving averages are significantly higher than the current currency pair rate, thus creating a higher probability scenario of a reversal if there would be
It has been spotted that the metal's price has declined, since the US elections, in a channel down pattern. However, the price has found support in the 2,540.00 level to start a recovery that was strong enough to break the pattern and the 2,600.00 mark. In general, the metal was already oversold, which contributed to the start of the recovery. Economic
The post-US election surge encountered resistance near the 156.50 level. It appears that this level, namely the 156.50/156.75 range, is capable of impacting the pair. However, the follow-up decline has found support in the 153.60/153.90 range. By mid-Monday's trading, the currency pair had started a recovery that faced resistance in the 50 and 100-hour simple moving averages near 155.25. Meanwhile,
The decline of the Pound against the US Dollar has continued. However, on Friday, the rate appeared to have found support in the 1.2600 mark, namely the 1.2600/1.2620 range. Economic Calendar br> The week will be calm. There are no events that could impact the rate up to Friday. On Friday, the publication of the Manufacturing and Services sector Purchasing Managers Indices could
The decline of the EUR/USD continued, as the Dollar strengthened throughout the week. Eventually, the 1.0500 mark was reached that acted as support. However, the support was not enough to create a broader recovery, as the 1.0600 mark started to act as resistance. In the meantime, the 50 and 100-hour simple moving averages revealed that they are capable of impacting the
Gold declined after the US elections. By mid-Monday, the decline had almost reached the 2,600.00 mark, as a recovery started. However, the recovery was facing the resistance of the 2,620.00 mark. Economic Calendar Analysis This week, markets will watch the publication of the US Consumer Price Index on Wednesday at 13:30 GMT. The inflation data will reveal whether the US government and
In the aftermath of the US elections, the US Dollar surged and the USD/JPY rate reached above 154.50. However, the pair did not test the 155.00 mark, as a retracement started. Eventually, the retracement ended near 152.20. This week, the rate appeared to be heading back higher, as on Monday the 154.00 level's resistance was tested. Economic Calendar This week, markets will
The US elections caused a drop of the GBP/USD to the support range near 1.2840. Surprisingly, the range held and forced the pair into another test of the resistance of the 1.3000 mark. However, the 1.3000 held and by this week the pair was back at 1.2840/1.2855. Economic Calendar This week, markets will watch the publication of the US Consumer Price Index
In the aftermath of the US elections, the EUR/USD declined due to a broad strengthening of the US Dollar. It was expected by our analysts that the USD would decline, as the Trump government would not care about inflation and stimulate the markets. However, it appears that the strengthening and potential gains in the USA are creating demand for the USD,
The price of gold has continued to book higher and higher levels. However, it constantly gets overbought and each fundamental event that strengthen the USD causes major drop of the commodity price. This week, the price is bound to be dictated by the US Presidential Election and US Federal Reserve announcements. Economic Calendar Analysis The US Presidential Election and the Congressional elections
As the US election approaches, the USD/JPY bulls appear to have taken profit, as the rate broke the channel up pattern on October 31. It appears that the rate is waiting for this week's fundamental events near the 151.50 mark. Economic Calendar The US Presidential Election and the Congressional elections takes place on Tuesday. These events will guide the financial markets. On Thursday,
Prior to the US Presidential Elections, the GBP/USD plummeted due to US jobs and inflation data and revealed that it is finding support at 1.2845/1.2855. The support was enough to force the rate to return to the 1.3000 mark. Economic Calendar The US Presidential Election and the Congressional elections takes place on Tuesday. These events will guide the financial markets. On Thursday, at12:00
The EUR/USD is waiting for the US Presidential election near the 1.0900 mark. In general, the future direction will be given by the elections. Currently, market analysts expect the Dollar to drop in the case of a Trump win and the opposite, if Harris wins. Namely, Trump's comments on policy signal more stimulus. Economic Calendar Analysis The US Presidential Election and the
In general, the price of gold has broken the channel up pattern on October 23. Afterwards, support was found, before the decline reached the 2,700.00 mark. Since then, the metal has been recovering. However, the metal faces resistance and finds support in round price levels. Economic Calendar Analysis This week, the market might move due to the combined release of the US
The latest surge of the USD/JPY has been attributed to fundamental events. However, it has been noticed that the currency pair has been surging in two channel up patterns for most of October. Most recently, the pair found support in a range at 152.37/152.47, the 50-hour simple moving average and the lower trend line of the channel up. Economic Calendar This week,
Last week, the GBP/USD declined below the 1.3000 mark. Since then, the pair has been finding support in 1.2900 and 1.2940 and testing the resistance of 1.3000. In the meantime, it has been observed that the rate has been ignoring the weekly simple pivot points and the hourly simple moving averages. Economic Calendar This week, the market might move due to the
The 1.0800 mark was passed, during the prior week. However, support was found in the 1.0760 and 1.0780 levels. By the start of this week, the rate was trading near the 1.0800 mark, respecting technical levels around it. Economic Calendar Analysis This week, the market might move due to the combined release of the US CB Consumer Confidence and the JOLTS Job