The price for gold has reached above the resistance of the 1,810.00 mark. By the middle of Monday's trading, the price had reached the 1,825.00 level. Meanwhile, a channel up pattern has been spotted on the pair's hourly candle chart. The pattern has been guiding the price since the November 3 drop. Economic Calendar Analysis On Tuesday, the US Producer Price Index and
The sharp surge of the yellow metal found resistance in the 1,800.00 level. By the middle of Friday's trading, the price had made two failed attempts at passing above the 1,800.00 mark. Meanwhile, it could be spotted that the 200-hour simple moving average was providing support near 1,790.00. Economic Calendar Analysis Next week, on Tuesday, the US Producer Price Index and Core
The 1,760.00 support zone held and caused a recovery of the price of gold. The recovery occurred with a consolidating minor decline during the Thursday's Asian trading. However, at mid-day in Europe a sharp surge of the metal started. By 13:00 GMT, the yellow metal had recovered almost 2.00% from the Wednesday's low level. Economic Calendar Analysis On Friday, US statisticians will
At 12:30 GMT, on Wednesday, the yellow metal's price started a drop, which lasted two hours, and gold lost 1.50% against the US Dollar. The move could be attributed to the publication of good US employment data. Namely, the ADP Non-Farm Employment Change was released at 517,000 instead of the forecast 400,000. However, the data was released at 12:15 GMT
The resistance of the 55, 100 and 200-hour simple moving averages failed to keep the metal's price down. The bullion pierced the SMAs. However, it did not result in a follow up surge, as the 1,796.00/1,797.00 zone provided resistance. Since the middle of Monday's trading hours, the price has been fluctuating between the support of the 55-hour simple moving average and
On Friday, the yellow metal's price plunged to the 1,772.35 level, before starting to recover. On Monday, the recovery of the price had retraced to the 1,790.00 level and the previously passed support line of the last week's low levels. Economic Calendar Analysis On Monday, the US ISM Manufacturing PMI will be published at 14:00 GMT. On Wednesday, at 12:15 GMT the
On Thursday, volatility was caused by the release of the US Advance GDP. During the volatility, the price for gold once again confirmed the 1,810.00 level as a resistance level. The following decline passed the 55 and 100-hour simple moving averages. By mid-Friday, the price had almost reached the 200-hour SMA at 1,790.20. Economic Calendar Analysis On Monday, the US ISM Manufacturing
The price of gold found enough support in the 200-hour simple moving average to surge and pass the 1,800.00 level together with the 55 and 100-hour simple moving averages, which strengthened the round price level. On Thursday morning, the price was testing the resistance of the 1,805.00 level. Economic Calendar Analysis At 12:30 GMT, on Thursday, the US Advance GDP is expected
On Tuesday, the decline of the yellow metal's price reached the support of the 200-hour simple moving average and pierced it. However, after piercing the SMA, the price recovered to the 1,705.00 level. On Wednesday, the rate once again found support in the 200-hour simple moving average near 1,785.00. Economic Calendar Analysis At 12:30 GMT, on Thursday, the US Advance GDP is expected
After testing the resistance of the 1,810.00 level, the price for gold began a decline on Tuesday. By 15:00 GMT, the decline had shortly traded below the 200-hour simple moving average near the 1,785.00 level. Meanwhile, the price had passed the supporting line of the previously broken channel up pattern. In addition, note that previous week's support levels have been marked
On Friday, at 12:15 GMT, gold suddenly surged broke the channel up pattern and pierced the 1,800.00 level. The following surge stopped at the 1,812.60/1,814.20 zone. At 15:00 GMT, the yellow metal's price plummeted to the support of the broken channel pattern near 1,785.00. Economic Calendar Analysis On Wednesday, at 12:30 GMT, the US Durable Goods Orders and Core Durable Goods Orders
The channel up pattern of the yellow metal's price held, as its lower trend line together with the 55-hour SMA provided enough support to cause a surge. By the middle of Friday's European trading hours, the metal had reached the 1,795.00 level, which started to provide resistance. Economic Calendar Analysis At 13:45 GMT on Friday, the week's notable events will end with
The bullion's price has continued to trade in the channel up pattern. However, it was spotted that on Thursday the price had faced the resistance of the 1,790.00 level. During the early Thursday's US trading hours, the price for gold was fluctuating near the 1,780.00 level, as it was finding support in the 55-hour simple moving average and the lower trend
The sharp recovery of the yellow metal's price turned into a sharp decline, as the price touched the 1,785.00 level. The following decline ended at GMT midnight to Wednesday. During these recent moves a channel up pattern was revealed. The pattern can be drawn by connecting the October 18, 19 and 20 low levels and setting the parallel line at
The rate traded near the 1,765.00 mark throughout Monday. At GMT midnight to Tuesday, the price of gold started a surge. Namely, by 09:30 GMT, the bullion had already almost reached the 1,785.00 level. During the surge, the resistance of the 55, 100 and 200-hour simple moving averages was ignored. Economic Calendar Analysis On Thursday, at 12:30 GMT the weekly US Unemployment
On Monday morning, the slowed down decline of the yellow metal's price reached below the support of the 200-hour simple moving average. The SMA had kept the pair up together with the 1,765.00 mark since early Friday's trading hours. Economic Calendar Analysis XAU/USD short-term forecast If the metal's price declines, it could reach the support of the October low level zone of
The recovery of the yellow metal on Thursday stopped at the 1,765.00 level. Since the encounter of the resistance, the price has been trading sideways in the 1,750.00/1,765.00 zone. Economic Calendar Analysis On Friday, at 12:30 GMT, the US employment data sets will be out. Namely, the Average Hourly Earnings change, the Non-Farm Employment Change and the monthly Unemployment Rate are bound
The yellow metal's price shortly pierced the previous weekly low levels before starting another recovery. During the early Thursday's European trading hours, the bullion appeared to be once again heading to the 1,770.00 level. Economic Calendar Analysis On Thursday, the weekly US Unemployment Claims at 12:30 GMT might cause a minor move in the USD. On Friday, at 12:30 GMT, the US
On Wednesday morning, the yellow metal's price had reached the support zone of this week's low levels near the 1,750.00 level. In addition, the price had reached below the 55, 100 and 200-hour simple moving averages. Economic Calendar Analysis On Wednesday, the ADP Non-Farm Employment Change at 12:15 GMT might cause USD volatility. On Thursday, the weekly US Unemployment Claims at 12:30
The resistance zone that is located below the 1,765.00 mark, failed to keep the price of gold down. Late on Monday, the price reached above the resistance zone and touched the 1,770.00 level. The 1,770.00 mark provided resistance and caused a retracement down. Economic Calendar Analysis On Tuesday, the US ISM Services PMI at 14:00 GMT could impact the value of
Since September 30, the yellow metal's price has been testing the resistance of the last week high zone at 1,761.10/1,765.00. Meanwhile, support is being provided by the 55 and 200-hour simple moving averages and the 1,750.00 mark. Economic Calendar Analysis On Tuesday, the US ISM Services PMI at 14:00 GMT could impact the value of the US Dollar and all USD
The yellow metal has clearly broken the resistance of the channel down pattern. It occurred in a sharp four hour jump, which also passed the resistance of the 55, 100 and 200-hour simple moving averages. Eventually, the metal's price was stopped by the 1,765.00 level's resistance. On Friday, the pair traded sideways around the 200-hour SMA and the 1,755.00 level. Economic Calendar
The yellow metal pierced the upper trend line of the channel down pattern on Wednesday. However, the 55-hour simple moving average almost immediately provided resistance and caused a drop of the metal's price. The drop shortly reached below the 1,725.00 before the price began to recover. On Thursday, the bullion retraced back to the previously pierced upper trend line of the
The yellow metal's price has passed below previous September low levels. On Tuesday, the pair touched a new low level by reaching the 1,730.00 mark. Afterwards, the commodity began a recovery. On Wednesday, the rate had recovered to the 1,740.00 level. Meanwhile, Dukascopy Analytics spotted that the pair has been declining in a channel down pattern since September 23. On Wednesday