The yellow metal reached the 1,710.00 level just after midnight to Tuesday, GMT hours. Afterwards, throughout most of the day, the price was recovering. In the near term future, the metal could be pushed down by the resistance of the 55-hour simple moving average, which approached the rate. However, a lower trend line of a large scale pattern was located
On Friday, the yellow metal's price broke the descending wedge pattern. The break-out was followed by a sharp decline to the 1,720.00 mark. However, a recovery followed after reaching this level. By the middle of the day's European trading, the metal was testing the resistance of the round price level of 1,760.00. Economic Calendar Analysis On Monday, the US ISM Manufacturing PMI could
Gold has dropped to the 1,760.00 level and on Friday tested the lower trend line of the declining wedge pattern. Future scenarios were based upon whether or not the trend line manages to hold. Economic Calendar Analysis Next week, notable data releases start on Monday. On that day, the US ISM Manufacturing PMI could cause a move. On Wednesday, the US ADP Non-Farm
The yellow metal's price has ended trading sideways by declining below the 1,800.00 level. However, on Wednesday and Thursday the rate was finding support I the 1,785.00 level. Meanwhile, the price had declined below the hourly simple moving averages. Economic Calendar Analysis During the week, only the US Preliminary GDP release on Thursday at 13:30 GMT could cause a notable sudden move. Click on
Since finding resistance in the 1,815.00 mark, the yellow metal's price has been trading sideways between the 1,800.00 and 1,815.00 levels. In the meantime, the 55-hour simple moving average had caught up with the price. It was spotted that on Tuesday and Wednesday the SMA was providing the price with support. Economic Calendar Analysis During the week, only the US Preliminary GDP
The surge of gold found resistance in the 1,815.00 level, which caused retracement down to the 1,805.00 level. Note that the 1,805.00 mark was strengthened by the support of the 200-hour simple moving averages. Economic Calendar Analysis During the week, only the US Preliminary GDP release on Thursday at 13:30 GMT could cause a notable sudden move. Click on the link below to
Since Friday morning, the price for the yellow metal has recovered almost 3.00%. During early US trading hours, the commodity reached above the last of the hourly moving averages and the 1,810.00 level. Economic Calendar Analysis During the week, only the US Preliminary GDP release on Thursday at 13:30 GMT could cause a notable sudden move. Click on the link below to find
As the metal was approached by the 55-hour SMA, the price declined and tested the support of the recently discovered falling wedge pattern. On Friday morning, the pattern's support was pierced. Economic Calendar Analysis On Thursday, market participants are set to watch the weekly US Unemployment Claims at 13:30 GMT. The week will end for the USD/JPY with the US PMIs at
The price has passed the February low level of 1,785.00. Afterwards, the commodity dropped to the 1,770.00 level, where it found support and began a retracement back up. In the meantime, the currency exchange metal's price has revealed a medium scale descending wedge pattern. Economic Calendar Analysis On Thursday, market participants are set to watch the weekly US Unemployment Claims at 13:30
The decline of the yellow metal increased volatility, as at mid-day on Tuesday the price made a 1.38% retracement back up before almost immediately returning to previous low levels. On Wednesday morning, the commodity price reached the early February low level at 1,785.00. Economic Calendar Analysis On Wednesday, at 13:30 GMT, the US Retail Sales and Core Retail Sales could cause a
At 11:00 GMT on Tuesday, the price of gold began to plummet, as it quickly reached the 1,790.00 mark. It was spotted during the decline that round price levels were providing short term support. In regards to the future, it was possible that the price would end its decline at the early February low level at 1,785.00. Economic Calendar Analysis On Wednesday,
Since Friday, the metal had retraced back up and found resistance in a technical level. Namely, the 200-hour simple moving average was providing the commodity with resistance and kept the price from surging. It was possible on Monday that the SMA could push the metal's price even lower. Economic Calendar Analysis On Wednesday, at 13:30 GMT, the US Retail Sales and Core
The hourly simple moving averages eventually failed to provide support for a surge, as on Thursday afternoon the commodity price began a decline. By the start of Friday's US trading hours, the commodity had declined and almost reached the 1,810.00 level. Economic Calendar Analysis On Wednesday, at 13:30 GMT, the US Retail Sales and Core Retail Sales could cause a move. However,
After shortly reaching above the 1,850.00 level, the metal's price retreated to continue to trade just above the support of the 1,835.00 level and the 200-hour simple moving average. In the near term future, additional support could be provided by the approaching 100-hour simple moving average. It could provide the needed support for the rate to test the 23.60% Fibonacci
At mid-day on Wednesday, the price for gold reached above the 1,850.00 mark. The surge was possible due to the rate being supported by the 55 and 200-hour simple moving averages, which provided technical support. In the near term future, the commodity price was expected to test the resistance of a 23.60% Fibonacci retracement level at 1,860.00. Economic Calendar Analysis On Thursday,
By the middle of Friday's GMT trading hours, the yellow metal continued to recover, as it had reached the 1,810.00 level. In the meantime, it was spotted that the 1,800.00 level can provide both support and resistance. Economic Calendar Analysis The week will end with the US monthly employment data sets at 13:30 GMT. Namely, the US Average Hourly Earnings, Unemployment Rate
The support zone of the 1,830.00/1,835.00 levels failed. The rate passed the zone and declined. By the middle of US trading hours, the metal's price had touched the 1,785.00 mark. In the near term future, the metal could look for support in the November low level at 1,765.00. Economic Calendar Analysis The week will end with the US monthly employment data sets
The yellow metal's price reached the support of the 1,835.00 level. Moreover, the 1,830.00 level was shortly touched. These levels held and forced the bullion into a retracement back up to the 1,845.00 mark. However, at mid-day on Wednesday, the rate was once again located at the 1,830.00/1,835.00 support zone. Economic Calendar Analysis On Wednesday, the US ISM Non-Manufacturing PMI could cause
After testing the resistance of the 1,870.00 level throughout Monday, the yellow metal declined on Tuesday. By the middle of the day's European trading hours, the commodity price had reached the 1,840.00 level. In the near term future, the price could reach for the last week's support at 1,835.00. Economic Calendar Analysis On Wednesday, the US ISM Non-Manufacturing PMI could cause a
The yellow metal increased its volatility on Friday, as the commodity price fluctuated between 1,840.00 and 1,875.00. On Monday, the metal had reduced volatility, as it traded between 1,855.00 and 1,870.00. Economic Calendar Analysis On Monday, the US ISM Manufacturing PMI at 15:00 GMT could cause a move. On Wednesday, the US ISM Non-Manufacturing PMI could cause a move. Thursday will bring
After trading with high volatility between 1,835.00 and 1,865.00, at mid-day on Friday the yellow metal's price was located just below the 1,865.00 level. In the meantime, take into account that the whole zone from 1,864.40 to 1,868.40 was providing resistance. Economic Calendar Analysis Next week, on Monday, the US ISM Manufacturing PMI at 15:00 GMT could cause a move. On
At mid-day on Thursday, the price for gold jumped and passed the resistance of the hourly simple moving averages. In the near term future, the price was expected to continue to surge and test previous high levels. Economic Calendar Analysis On Thursday, January 28, the US Advance GDP data is set to be released at 13:30 GMT. Also, the US Unemployment Claims
After holding for eight hours on Tuesday, the support of the ascending wedge pattern broke. This resulted first in trading above the 1,850.00 mark, and afterwards a decline. By the middle of Wednesday's GMT trading hours, the commodity price had reached below the 1,845.00 level. Economic Calendar Analysis On Wednesday, January 27, the Federal Reserve is going to unveil its monetary policy
Since the start of Monday's trading hours, the yellow metal has been trading above the support of the 200-hour simple moving average and the 1,850.00 level. In the meantime, resistance was provided by the 1,860.00 level and two technical levels that strengthened it. Economic Calendar Analysis On Wednesday, January 27, the Federal Reserve is going to unveil its monetary policy plans by