As forecast on Monday, the price for gold has reached the support zone at 1,850.60/1,854.50. The support zone held and caused a retracement back up to the 1,865.00 level and the upper trend line of the descending channel pattern. Economic Calendar Analysis During the week, most attention will be put on the US Consumer Price Index and Producer Price Index data. The
Despite reaching below the 130.00 mark, the USD/JPY did not decline during the first half of Tuesday's trading hours. The rate revealed a support zone at 129.78/129.86. Meanwhile, resistance was being provided by the 130.50/130.58 zone and the 50-hour simple moving average. The sideways trading could be explained with the markets expecting the upcoming US Consumer Price Index data on Wednesday
Since the middle of Monday's trading, the GBP/USD currency pair has remained almost flat, as it trades in the 1.2300/1.2375 range. In the meantime, previous forecasts remained valid. Economic Calendar During the week, most attention will be put on the US Consumer Price Index and Producer Price Index data. The data sets are expected to reveal the inflation in the United States
Since the middle of Monday's trading hours, the EUR/USD currency exchange rate has been trading around the 1.0560 mark. Short term support is being found in the 1.0540 mark and resistance is provided by the 1.0580 level. Meanwhile, previous forecasts remained valid. Economic Calendar Analysis During the week, most attention will be put on the US Consumer Price Index and Producer Price
On Friday, gold bounced off the 1,890.00 mark and started a decline. During the second part of Monday's trading, the price had already reached below the 1,860.00 level. In the near term future, a continuation of the decline could look for support in the May low level zone at 1,850.60/1,854.50. Economic Calendar Analysis During the week, most attention will be put on
On Monday morning, the USD Dollar surged against the Yen above the high level zone at 131.00/131.25 and shortly touched the weekly R1 simple pivot point at 131.33. However, almost immediately after the event, the pair sharply declined. By 16:00 GMT, the currency pair had almost reached the combined support of the 130.00 level, the weekly simple pivot point at
Despite shortly reaching below the support zone of 1.2277/1.2325, the rate did not decline, as on Monday morning a recovery started. During the second half of the day's trading, the currency pair was fluctuating between the support of the 1.2300 mark and resistance at 1.2400. Economic Calendar During the week, most attention will be put on the US Consumer Price Index and
The resistance of the 1.0600 level was enough to cause a decline of the pair to the 1.0500 mark, which acted as support. During the second part of the day's European trading hours, the Euro traded near the 1.0550 level against the US Dollar. Economic Calendar Analysis During the week, most attention will be put on the US Consumer Price Index and
The resistance of the 1,910.00 mark was enough to force the yellow metal's price into a decline, which shortly pierced the 1,870.00 level, before starting a recovery. However, by late Friday's trading hours, the price did not manage to reach not only above the 1,900.00 mark, but also the 1,895.00 level. Economic Calendar Analysis During the week, most attention will be put
On Friday, the USD/JPY currency exchange rate returned to trading to levels, where the pair was located before the volatility, which was caused by the Federal Reserve rate hike and following press conference. During the day, the rate had encountered resistance in the 130.70 and 130.80. Meanwhile, support was provided by the previous resistance zone at 130.20/130.50. Economic Calendar During the week,
In the aftermath of the Bank of England rate hike, the GBP/USD rate found support in the 1.2277/1.2325 zone. Namely, the 1.2300 level appears to be acting as psychological support. Meanwhile, resistance is found in the weekly S1 simple pivot point at 1.2372 and 1.2380. Economic Calendar During the week, most attention will be put on the US Consumer Price Index and
During Friday's trading, the EUR/USD found support in the zone at 1.0472/1.0492 and recovered to the 1.0600 mark, which started to act as resistance. During the late hours of the day's trading, the exchange rate was trading between 1.0600 and the support of the 1.0550 mark. Economic Calendar Analysis During the week, most attention will be put on the US Consumer Price
At mid-day on Thursday, the price for gold bounced off the resistance of the 1,910.00 level. By 15:00 GMT, the price had declined to the 1,885.00 level. Economic Calendar Analysis On Friday, the US Dollar and the Canadian Dollar are set to react to the monthly US and Canadian employment data. Among the data will be the employment changes and unemployment rates
The USD/JPY currency pair has recovered in the aftermath of the US rate hike. By the start of the day's US trading start at 13:30 GMT, the USD/JPY had reached back up to the resistance zone at 130.20/130.50. Economic Calendar On Friday, the US Dollar and the Canadian Dollar are set to react to the monthly US and Canadian employment data. Among
On May 5th, the Bank of England hiked its interest rate from 0.75% up to 1.00%, which is the highest level in 13 years. In addition, the bank revealed how the monetary policy makers voted on the rate hike. Namely, six of the committee voted for a 0.25% hike, but three members wanted a 0.50% hike that would set the
On Thursday, comments made by the Head Economist of the ECB beat down the value of the EUR/USD, as it was revealed that the ECB is only preparing for rate hikes. By the start of the day's US trading hours, the EUR/USD had reached below the 1.0550 mark, where it encountered support. Economic Calendar Analysis On Friday, the US Dollar and the
On Wednesday, the comments made at the Federal Reserve press conference by the Chairman Jerome Powell caused a drop of the US Dollar's value. On gold price charts it resulted in a move above a resistance zone at 1,872.00/1,878.00 up to the 1,890.00 level. Economic Calendar Analysis On Friday, the US Dollar and the Canadian Dollar are set to react to the
On Wednesday, the US Federal Reserve hiked interest rates by 0.50%. Afterwards, the Chairman of the bank Jerome Powell hosted a press conference. Comments made by Powell that the bank is not considering 0.75% rate hikes caused a drop of the US Dollar. On the USD/JPY charts the event resulted in a sharp move below the 129.00 level and a
During the US Federal Reserve rate hike and the following press conference, the GBP/USD was highly volatile in the 1.2450/1.2550 range. As the head of the Federal Reserve stated that the Fed is not considering a 0.75% rate hike, the GBP/USD started to move upwards. Economic Calendar On Thursday, at 11:00 GMT, the Bank of England is scheduled to hike interest rates.
Throughout the week, the EUR/USD has been trading in a hundred base point range between a support zone at 1.0472/1.0491 and resistance at 1.0572/1.0593. The sideways trading was explained by the markets expecting the Federal Reserve Rate Hike on Wednesday at 18:00 GMT. As the rate hike occurred, the EUR/USD reacted with a 37 point move upwards, which hit the resistance
During April, the asking price for Dukascoin went down from the 1.6000 mark to the 1.4300 level. On April 21, the price found enough support in the 1.4300 level to start a recovery. By May 4, the price was back at 1.6000 Meanwhile, the bid price remained in the 1.4000/1.5000 range during the first half of the month. On April 16,
Due to the recent decline of the value of the US Dollar, the price for gold has surged. By the middle of Friday's GMT trading hours, the price had passed two hourly simple moving averages and the resistance zone near 1,910.00. In addition, the commodity has broken the channel down pattern, which guided it since the middle of April. Economic Calendar
On Friday morning, the retracement of the USD/JPY currency pair shortly pierced the 130.00 mark, before finding support in the weekly R1 simple pivot at 129.82. In the meantime, the pair had ignored the Thursday's mid-day low level zone at 130.18/130.30. Moreover, note that the 50-hour simple moving average was approaching the rate from below. Economic Calendar This week's notable events for
The US Dollar has recently declined against all other currencies and assets. On the GBP/USD chart is has resulted in a surge, which at mid-day on Friday was approaching the resistance zone at 1.2590/1.2600. The resistance zone marked the Tuesday and Wednesday high levels. In addition, the 100-hour simple moving average had reached the zone from above. Economic Calendar This week's notable