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Mon, 02 Jan 2023 12:38:08 GMT

USD/JPY reaches support levels

The USD/JPY encountered resistance in the 134.50 level, before starting a broad decline. By the start of 2023, the pair had reached below 131.00 mark, which acted as resistance. Meanwhile, support appears to be provided by the December 20 low level at 130.57. Economic Calendar This week, on Wednesday, the US ISM Manufacturing PMI and JOLTS Job Openings could cause an adjustment

Mon, 02 Jan 2023 12:31:14 GMT

GBP/USD trades flat between 1.2000 and 1.2100

Since December 22, the GBP/USD currency pair has been trading between the support zone above 1.2000 and resistance above 1.2100. Namely, support is found in 1.2000/1.2025 and resistance at 1.2100/1.2125. Meanwhile, the pair has largely ignored the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point. Economic Calendar This week, on Wednesday, the US ISM Manufacturing PMI and

Mon, 02 Jan 2023 12:24:54 GMT

EUR/USD fluctuates near 1.0700

During the holidays, the EUR/USD recovered and reached the 1.0700 mark. However, on January 2 the currency exchange rate traded below the round level. Meanwhile, support appeared to be provided by the combination of the weekly simple pivot point at 1.0671 and the 50-hour simple moving average. Economic Calendar Analysis This week, on Wednesday, the US ISM Manufacturing PMI and JOLTS Job

Fri, 16 Dec 2022 13:08:13 GMT

Dukascoin asks outnumber bids

As it was forecast, the price for Dukascoin has dipped in the previous month. However, in the aftermath of the late November decline, a recovery has occurred. The asking price for a coin has fluctuated in the 1.4000/1.4300 range. Meanwhile, the bid price was more volatile, as it fluctuated in the 1.0100/1.4000 zone. Asking price chart Bid price chart Market Depth Market

Fri, 16 Dec 2022 11:34:19 GMT

Gold consolidates

After the Federal Reserve hiked its base interest rate and with it strengthened the US Dollar, the price for gold declined. Since early December 15, the price has been consolidating between the 1,775.00 and 1,785.00 levels. Note that the article covers the period until the start of 2023. In the meantime, we would like to ask that feedback on the content

Fri, 16 Dec 2022 11:23:12 GMT

USD/JPY tests autumn's pattern

The post Federal Reserve rate hike surge of the USD/JPY encountered resistance in the 137.95/138.20 zone. The following decline was looking for support. Note that the article covers the period until the start of 2023. In the meantime, we would like to ask that feedback on the content would be provided via [email protected] email. Economic Calendar The mid-December week will end with the

Fri, 16 Dec 2022 11:17:01 GMT

GBP/USD declines due to Bank of England

In general, the GBP/USD respects round levels as support and resistance, but the direction is set by fundamentals. Namely, the US central bank was more hawkish in its policy than the Bank of England, as two members of the BoE policymaking committee voted to keep rates unchanged instead of the 0.50% rate hike. Due to these reasons the GBP/USD is

Fri, 16 Dec 2022 10:52:52 GMT

EUR/USD is pushed up by policy

The European Central Bank has just now hiked its Main Refinancing Rate and has published its Monetary Policy Statement. The base interest rate has been hiked from 2.00% up to 2.50%. Afterwards, at 13:45 GMT, the President of the bank Christine Lagarde revealed that the central bank expects inflation to remain persistent and rates should remain higher. Due to the

Thu, 15 Dec 2022 11:40:12 GMT

Gold declines after Fed hike

The Federal Reserve rate hike and following press conference caused a surge of the US Dollar. On the gold price charts it resulted in a drop below the support of the 1,805.00 level. After the event, the price declined below 1,795.00. By mid-Thursday, the price was at 1,775.00. Economic Calendar Analysis On Thursday, at 13:30 GMT, the US Retails Sales data and

Thu, 15 Dec 2022 11:35:18 GMT

USD/JPY recovers after Fed hike

The United States Federal Reserve hiked its Federal Funds Rate by 0.50%. The market consensus forecast was a 0.50% hike, which has brought the rate from 4.00% up to 4.50%. The initial rate hike caused a surge of the US Dollar, drop of the equity markets and surge of peer currencies. The event was followed by the press conference of

Thu, 15 Dec 2022 11:29:02 GMT

GBP/USD action is dictated by Bank of England

The United States Federal Reserve hiked its Federal Funds Rate by 0.50%. The market consensus forecast was a 0.50% hike, which has brought the rate from 4.00% up to 4.50%. The initial rate hike caused a surge of the US Dollar, drop of the equity markets and surge of peer currencies. The event was followed by the press conference of

Thu, 15 Dec 2022 11:25:59 GMT

EUR/USD waits for ECB rate

The United States Federal Reserve hiked its Federal Funds Rate by 0.50%. The market consensus forecast was a 0.50% hike, which has brought the rate from 4.00% up to 4.50%. The initial rate hike caused a surge of the US Dollar, drop of the equity markets and surge of peer currencies. The event was followed by the press conference of

Wed, 14 Dec 2022 14:29:20 GMT

Gold holders close long positions before Fed

The US monthly Consumer Price Inflation has increased by 0.1% instead of the forecast 0.3%. Year-on-year inflation is at 7.1%, compared to forecast 7.3%. Meanwhile, core CPI month-on-month is at 0.2% instead of 0.3%. The lower than expected US inflation caused a drop of the US Dollar. The price for gold surged and hit the 1,825.00 level due to the event.

Wed, 14 Dec 2022 13:54:33 GMT

USD/JPY extends decline, prior to Fed

The US monthly Consumer Price Inflation has increased by 0.1% instead of the forecast 0.3%. Year-on-year inflation is at 7.1%, compared to forecast 7.3%. Meanwhile, core CPI month-on-month is at 0.2% instead of 0.3%. The lower than expected US inflation caused a drop of the US Dollar. The USD/JPY plummeted on the news down to the 135.00 mark. Moreover, after retracing

Wed, 14 Dec 2022 13:37:44 GMT

GBP/USD breaks above summer high zone

The lower than expected US inflation caused a drop of the US Dollar. The GBP/USD surge almost reached the 1.2450 mark, before retracing to find support at 1.2350. At mid-Wednesday the pair had approached and found resistance in the 1.2400 mark. Economic Calendar Later on, the top event of them all will take place. At 19:00 GMT, the US Federal Reserve will

Wed, 14 Dec 2022 13:30:25 GMT

EUR/USD reacts to CPI, waits for Fed

The US monthly Consumer Price Inflation has increased by 0.1% instead of the forecast 0.3%. Year-on-year inflation is at 7.1%, compared to forecast 7.3%. Meanwhile, core CPI month-on-month is at 0.2% instead of 0.3%. The lower than expected US inflation caused a drop of the US Dollar. The EUR/USD surged to the resistance of the weekly R2 at 1.0675, Afterwards, the

Tue, 13 Dec 2022 09:16:58 GMT

Gold declines below support

The price for gold has passed below the support of the 100 and 200-hour simple moving averages and the 1,784.20/1,786.00 range. However, during late Monday's trading, support was found in the 1,780.00 level and the price retraced back above 1,785.00, as it ignored technical levels. The metal is ignoring technical, as the market expects the publication of the US Consumer

Tue, 13 Dec 2022 09:13:43 GMT

USD/JPY pierces resistance zone

The USD/JPY has approached the 137.70/137.85 range and shortly even moved above it. On Tuesday morning, it appeared that the pair was consolidating by trading sideways below the resistance zone and near the 137.50 level. Economic Calendar The US Consumer Price Inflation data is set to be published on Tuesday at 13:30 GMT. The inflation is set to reveal whether the Federal

Tue, 13 Dec 2022 09:10:35 GMT

GBP/USD trades below 1.2300

The Monday's decline of the GBP against the US Dollar found support in the 100-hour simple moving average near 1.2220. Afterwards, the rate found resistance in the 1.2300 mark. During the first half of Tuesday's trading, the pair remained below the 1.2300 level. Economic Calendar The US Consumer Price Inflation data is set to be published on Tuesday at 13:30 GMT. The

Tue, 13 Dec 2022 09:05:43 GMT

EUR/USD waits for US CPI and Fed

The EUR/USD remained near previous levels during Tuesday's early trading hours, as the pair waited for the US Consumer Price Index to be released at 13:30 GMT. Economic Calendar Analysis The US Consumer Price Inflation data is set to be published on Tuesday at 13:30 GMT. The inflation is set to reveal whether the Federal Reserve is successful in its policy at

Mon, 12 Dec 2022 11:24:34 GMT

Gold fails to breach resistance

On Friday, the 1,803.30/1,809.90 range forced the price for gold into a decline. It was coincidental with the publication of the United States Producers Price Index being higher than expected. Namely, the higher inflation data set indicates that the US monetary policymakers might increase interest rates and thus strengthen the US Dollar. The following decline found support on Monday morning

Mon, 12 Dec 2022 11:20:38 GMT

USD/JPY trades near 137.00

On Friday, the USD/JPY currency pair found support in the 135.60/135.75 zone. By the middle of Monday's trading hours, the pair had reached above the 137.00 mark. Meanwhile, support appeared to be provided by the 50, 100 and 200-hour simple moving averages near 136.50. Economic Calendar The US Consumer Price Inflation data is set to be published on Tuesday at 13:30 GMT.

Mon, 12 Dec 2022 11:13:45 GMT

GBP/USD recovers due to GDP data

On a month-on-month basis the United Kingdom gross domestic product has increased by 0.5%, instead of the market consensus forecast of 0.4%. The higher than forecast GDP revealed that the Bank of England has room for interest rate hikes. Due to that reason, the Pound surged against peer currencies. The GBP/USD surged nearly 34 base points or 0.27%. Coincidentally, the event

Mon, 12 Dec 2022 11:05:35 GMT

EUR/USD fails to breach 1.0600

The EUR/USD failed to reach the 1.0600 mark. Instead, a retracement from the 1.0580 down to the 1.0500 mark has occurred. On Monday, the pair surged and was located near the 1.0550 level. Economic Calendar Analysis The US Consumer Price Inflation data is set to be published on Tuesday at 13:30 GMT. The inflation is set to reveal whether the Federal Reserve

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