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
Gold found resistance on Monday in the 1,760.00 level. The event was followed by a decline, which by the middle of the day was approaching the September low level zone from 1,738.25/1,745.40. Economic Calendar Analysis On Monday, a slight move on all USD assets could be caused by the US Durable Goods Orders and Core Durable Goods Orders release at 12:30
The yellow metal's price booked a new recent low level on Thursday, as it shortly traded at the 1,738.40 level. However, a recovery followed the piercing of the 1,740.00 mark. Economic Calendar Analysis On Monday, a slight move on all USD assets could be caused by the US Durable Goods Orders and Core Durable Goods Orders release at 12:30 GMT. On
After making four attempts to pass the resistance of the 200-hour simple moving average and even piercing it during the Federal Reserve caused volatility, on Thursday, the yellow metal's price plummeted to the 1,750.00 mark. Economic Calendar Analysis On September 22, the US Federal Reserve Federal open Markets Committee published its Economic Projections and Statement in addition to the Federal Funds Rate.
Since the middle of Tuesday's trading hours, the price for gold has been kept down by the combined resistance of the 200-hour simple moving average and the 1,781.00/1,783.00 zone. Economic Calendar Analysis On Wednesday, the top event of all macroeconomic events will occur. The US Federal Reserve Federal Open Market Committee is going to publish their Economic Projections, Statement and the Federal
On Tuesday, the yellow metal's price reached the resistance of the 200-hour simple moving average and the previous September low level zone at 1,781.00/1,783.00. Economic Calendar Analysis On Wednesday, the top event of all macroeconomic events will occur. The US Federal Reserve Federal Open Market Committee is going to publish their Economic Projections, Statement and the Federal Funds Rate. On Thursday, Markit
The price for gold plummeted. From a Fundamental Analysis perspective the drop occurred due to various reasons, which can be read in this article. Meanwhile, from a technical analysis perspective the decline has its own reasons and could have been forecast. Namely, the initial drop occurred due to the price failing to pass the resistance zone above the 1,800.00 mark. Economic Calendar
The yellow metal''s price managed to pierce the 1,805.00 level and the resistance zone below it twice. However, the resistance held and a decline started at mid-day on Wednesday. By the middle of Thursday's European trading hours, the price had reached the support of the 1,781.00/1,784.00 zone, which has kept the price up since September 8. Economic Calendar Analysis On Thursday, at 12:30
As the price for gold was testing the support zone below the 1,785.00 level, the US Consumer Price Index was released. The worse than forecast US data caused a drop of the value of the USD. Subsequently, the price of gold jumped. During the three hour surge, the bullion broke above the resistance of the 200-hour SMA and the 1,800.00/1,805.00 resistance
Since September 8, the price for gold has continued to fluctuate sideways between a support zone below the 1,785.00 level and resistance above the 1,800.00 mark. On Tuesday, the price was reached by the resistance of the 100-hour simple moving average, which together with the 55-hour SMA started to push the metal down. Economic Calendar Analysis The week's notable events will start
The yellow metal's price passed the resistance of the 1,800.00 level on Friday morning. The 1,800.00 kept the rate from surging since the start of September 8. However, the price almost immediately found resistance in the 100-hour simple moving average near 1,805.00. Economic Calendar Analysis On Friday, the rate could move due to the publication of the US Producers Price Index at
The yellow metal's decline eventually found support in a zone that is located just below the 1,785.00 level. Meanwhile, it was spotted that the pair has been finding resistance in a zone just above the 1,800.00 mark. Economic Calendar Analysis On Friday, the rate could move due to the publication of the US Producers Price Index at 12:30 GMT. XAU/USD short-term forecast In