It appears that the decline of price for Gold occurred due to markets turning to Bitcoin as a safe haven asset. The move is inversely correlated to the surge of risk assets on Monday. From a technical perspective, the commodity found support in 2,020.00. By mid-Tuesday, the price had recovered to the combined resistance of the 2,040.00 level and
As the world read the US employment report, it was discovered that the total workforce had decreased. Namely, despite the overall data being better than expected, the numbers were misleading, as their calculation base was smaller. The USD/JPY rate reacted to the news with a move below the 144.30/145.00 zone that immediately resumed acting as resistance. The resistance of
The Friday's volatility ended with the pair finding resistance in the 1.2760 level and support in the 100-hour simple moving average. On Tuesday, additional support was provided by the combination of the 50 and 200-simple moving averages near the weekly simple pivot point at 1.2718. A decline below the moving averages and the 1.2700 mark could eventually reach the weekly
Since the high volatility that was caused by the US employment data, the EUR/USD rate has consolidated around the 1.0950. Support is found near 1.0930 and resistance was located at 1.0980. In the meantime, note that the initial drop of the US Dollar was offset by details of the US employment release. Namely, despite new jobs, higher earnings and lower
In general, fundamentals keep making an impact on the markets. It was revealed eventually to the world that the Fed might not cut rates until the end of 2024, which strengthened the US Dollar. Moreover, the release of US Employment data on Friday at 13:30 GMT caused volatility. During these events, the price for Gold dropped to the 2,025.00 level
In general, fundamentals keep making an impact on the markets. It was revealed eventually to the world that the Fed might not cut rates until the end of 2024, which strengthened the US Dollar. Moreover, the release of US Employment data on Friday at 13:30 GMT caused volatility. During the events, the pair broke the 144.30/145.00 range and the weekly
In general, fundamentals keep making an impact on the markets. It was revealed eventually to the world that the Fed might not cut rates until the end of 2024, which strengthened the US Dollar. Moreover, the release of US Employment data on Friday at 13:30 GMT caused volatility. On the GBP/USD charts it resulted in the rate retracing to the
In general, fundamentals keep making an impact on the markets. It was revealed eventually to the world that the Fed might not cut rates until the end of 2024, which strengthened the US Dollar. Moreover, the release of US Employment data on Friday at 13:30 GMT caused volatility. The EUR/USD had declined to the support of the 1.0880/1.0890 range due
The decline of the price for gold had reached the support of the 2,030.00 mark, as the US Federal Reserve Meeting Minutes were published and caused a reversal of the course of the US Dollar. On the gold charts it resulted in a recovery back to 2,050.00. A move above 2,050.00 is expected to encounter resistance in the 2,060.00 level
The Fed Meeting Minutes caused a decline of the USD at 19:00 GMT on Wednesday. However, the USD/JPY pair did not start a broader decline, as it found support in the 143.00 mark. By mid-Thursday, the US Dollar had continued to appreciate against the Yen and reached the 144.00 level. In the near term future, the pair could approach the
The publication of the US Federal Reserve Meeting Minutes has reminded the world that the Fed is debating a reduction of interest rates and a stop to the reduction of the central bank's balance sheet. The reminder caused a decline of the US Dollar's value. In combination with the strong support of the 1.2590/1.2610 range, the fundamental event caused
The publication of the US Federal Reserve Meeting Minutes has reminded the world that the Fed is debating a reduction of interest rates and a stop to the reduction of the central bank's balance sheet. The reminder caused a decline of the US Dollar's value. On the EUR/USD charts the pair had additional support of the 1.0900 mark and
Despite hosting a recovery at the end of the year, the price for gold has returned back below 2,060.00. An extension of the ongoing decline is expected to find support in the 2,050.00 mark. Below 2,050.00, the 2,040.00 level and the 2,044.75/1,047.75 and 2,027.15/2,030.00 ranges are capable of acting as support. However, a recovery of the metal is expected to
The broader surge of the US Dollar has continued due to a stock sell off that was caused by a downgrading of Apple stock by Barclays. On the USD/JPY charts it has resulted in a surge above 142.50. The ongoing surge could encounter resistance in the 143.00 level and the weekly simple pivot point at 143.23. In the meantime, a decline
The decline of the GBP/USD currency exchange rate has reached the support of the 1.2590/1.2610 zone. A potential move higher could encounter resistance in the weekly simple pivot point at 1.2656. Higher above, note the 50, 100 and 200-hour simple moving averages that are capable of impacting the rate. In the meantime, a passing below the 1.2590 level might result
The EUR/USD decline has extended below the 1.1000 mark, as the year started with a surge of the US Dollar against other assets. However, the pair appears to have found support in the 1.0930/1.0935 zone. A move below the 1.0930 level could result in the pair looking for support in the 1.0900 mark, before reaching the 1.0880/1.0890 range and the
At the end of the year US firms book losses on assets to reduce their annual profit and taxable income. It occurs by selling stocks, bonds, other currencies on last day of the year and buying them back on the first day of trading. Namely, big players are selling everything against the Dollar, which is boosting the USD
At the end of the year US firms book losses on assets to reduce their annual profit and with it the taxable income. It occurs by selling stocks, bonds, other currencies on last day of the year and buying them back on the first day of trading. Namely, big players are selling everything against the Dollar, which is boosting
At the end of the year US firms book losses on assets to reduce their annual profit and taxable income. It occurs by selling stocks, bonds, other currencies on last day of the year and buying them back on the first day of trading. Namely, big players are selling everything against the Dollar, which is boosting the USD value. The
At the end of the year US firms book losses on assets to reduce their annual profit and with it the taxable income. It occurs by selling stocks, bonds, other currencies on last day of the year and buying them back on the first day of trading. Namely, big players are selling everything against the Dollar, which is boosting
The price for gold has continued to move higher. Most recently, the commodity revealed that there is a resistance zone at 2,084.35/2,088.30. The resistance held and by mid-Thursday the bullion was looking for support in the 2,075.00 level. A resumption of the larger scale surge would once again test the resistance of the 2,084.35/2,088.30 range. Higher above, the 2,090.00 and
The USD/JPY appears to have been impacted by the usually insignificant publication of the Richmond Manufacturing Index. The index is a survey of 55 manufacturers. It was revealed to the world that these firms expect twice as worse future than expected. It was the needed info for the pair to start a move. It started to decline and by
The GBP/USD eventually passed above the 1.2780/1.2795 range, the 1.2800 mark and the weekly R1 simple pivot point at 1.2812. Moreover, the rate had shortly traded above the August high level of 1.2819. However, the pair appears to have overextended its move, as on Thursday morning it retraced to the 1.2780/1.2795 range where it was looking for support. A resumption
The surge of the EUR/USD currency pair continues, as it has reached a new high level. Namely, the pair passed above the 1.1100 mark and confirmed it as support. By mid-Thursday, the rate had touched the 1.1140 level. The pair is set to face the resistance of the weekly R2 simple pivot point at 1.1149 and the 1.1150 level. A