On Thursday, the XAU/USD exchange rate plunged by 312 pips or 1.74%. A breakout occurred through the lower boundary of an ascending channel pattern during Thursday's trading session. Economic Calendar Analysis Notable events for this week have ended. Expect the next week's analysis to be published this evening in the Fundamental Analysis section. Click on the link below to find out more about
The XAU/USD exchange rate bounced off the lower boundary of an ascending channel pattern at 1765.3 on Wednesday. As a result, the commodity surged by 175 pips or 0.99% during Wednesday's trading session. Economic Calendar Analysis On Wednesday, all of the markets will move due to the release of the US Federal Reserve Federal Funds Rate at 18:00 GMT. On Thursday, at 12:30
On Tuesday, the precious metal gold declined by 95 pips or 0.54% against the US Dollar. The commodity breached the 55– and 200– hour SMAs during yesterday's trading session. During the Asian trading session, the exchange rate has been trading near the lower line of a descending channel pattern and was set for a breakout. Economic Calendar Analysis On Wednesday, all of the
On April 26, The XAU/USD exchange rate bounced off a support level formed by the 200– hour simple moving average at 1770.0. As a result, the commodity surged by 100 pips or 0.61% during Monday's trading session. Currently, the exchange rate is trading near the lower boundary of an ascending channel pattern and could be set for a breakout. Economic Calendar Analysis On
On April 23, the precious metal Gold dropped by 247 pips or 1.38% against the US Dollar. The commodity breached the 55– and 100– hour SMAs during Friday's trading session. Economic Calendar Analysis Next week, on Wednesday, all of the markets will move due to the release of the US Federal Reserve Federal Funds Rate at 18:00 GMT. On Thursday, at 12:30 GMT,
The high levels from 1,790.00 to 1,800.00 have been marked in a resistance zone, as it has held throughout this week. On Friday, the rate passed the support levels of the 55 and 100-hour simple moving averages, which previously provided support. Economic Calendar Analysis Next week, on Wednesday, all of the markets will move due to the release of the US Federal
The yellow metal made two attempts to reach the resistance of the 1,800.00 level. Both of them failed. On Thursday, the rate was declining, as by the middle of the day's European trading hours, the rate had almost reached the 55 and 100-hour simple moving averages. Economic Calendar Analysis There are no events expected during the upcoming week that could impact the
As forecast, the yellow metal's price has once again approached and tested the resistance of the 1,790.00 level. Namely, the price bounced off the resistance even before it approached it. During the early hours of Wednesday's trading, the price had retraced to the support of the 55-hour simple moving average. Economic Calendar Analysis There are no events expected during the upcoming week
The resistance of the 1,790.00 level was enough for the metal's price to decline and break the ascending channel up pattern, which has guided the rate since April 14. In addition, the price had passed the support of the 55-hour SMA before finding support in the 1,765.00 level. Economic Calendar Analysis There are no events expected during the upcoming week that could
By the middle of Monday's European trading hours, the yellow metal's price had reached the 1,790.00 level. Since passing the 1,750.00 level on Thursday, the price had been gradually climbing. In the near term future, the surge was expected to test the resistance of the 1,800.00 mark. Economic Calendar Analysis There are no events expected during the upcoming week that could impact
The yellow metal's price has reached above the March high level zone that was located above the 1,755.00 level. On Friday, the price found support in the 1,760.00 level. Due to that reason the zone was extended and remains on the chart, as it is expected that it would provide support. In the meantime, the metal had faced and bounced off
The yellow metal found support in the 1,735.00 level and surged. At mid-day on Thursday, the commodity price was testing the resistance zone, which was located just below the 1,750.00 mark. Note that this is the second attempt being made during this week's trading. In general, the future forecasts still remain upon whether or not the resistance zone holds. Economic Calendar Analysis On
The sharp surge of the yellow metal's price ended just before the metal reached the 1,750.00 level. Since the middle of Tuesday's trading, the price was trading sideways between the 100-hour simple moving average and the 1,750.00 level. Economic Calendar Analysis On Thursday, the US Retail Sales and Core Retail Sales are also bound to influence the value of the US Dollar. Click
On Tuesday, the yellow metal's price bounced off the support zone of the 1,720.00/1,725.00 levels. As soon as the price managed to pass the short term resistance of the 200-hour simple moving average, the price sharply surged. Economic Calendar Analysis On Tuesday, the US Consumer Price Index and Core Consumer Price Index could cause moves on all USD assets and pairs. On
The price for gold started the week by trading below the resistance of the 55 and 100-hour simple moving averages and the 1,745.50/1,747.50 zone. Economic Calendar Analysis On Tuesday, the US Consumer Price Index and Core Consumer Price Index could cause moves on all USD assets and pairs. On Thursday, the US Retail Sales and Core Retail Sales are also bound to
During the late hours of Thursday's trading, the price for gold reached above the 1,755.00 level, which is the high level of March. However, a follow up surge did not occur. Instead, the commodity price declined after sideways trading in the 1,755.00 and 1,759.00 zone. Due to that reason this zone is now marked on the chart as a potential
As expected, the yellow metal found support in the 55-hour simple moving average, which pushed the rate into another test of the resistance zone that is located above the 1,745.00 mark. By the middle of Thursday's GMT trading hours, a test of the resistance zone was ongoing. Economic Calendar Analysis Notable events for this week are over. Expect the next week's event analysis
During the second part of Tuesday's trading, the yellow metal's price reached the resistance zone just above the 1,745.00 level. The metal immediately bounced off it and retraced back down. By the middle of Wednesday's trading, the price was trading near the 1,740.00 level. Economic Calendar Analysis On Wednesday, at 19:00 GMT, the US Federal Open Markets Committee is set to publish
Last week, the yellow metal broke the resistance zone near 1,725.00 and surged above it. Afterwards, the zone was confirmed as support before the surge of the commodity price resumed. On Tuesday, the bullion's price was heading to the resistance zone above the 1,745.00 level. This zone provide the metal with resistance during the second part of March. Namely, it reversed
The support of the zone near the 1,680.00 level eventually caused a surge. It resulted in a surge, which by the middle of Thursday's trading hours had reached the 1,720.00 level. In the meantime, note the resistance cluster above the 1,721.00 level. The March 23 to 30 low level zone together with the 200-hour simple moving average had turned into a resistance. Economic
The yellow metal's price reached the support zone that surrounds the 1,680.00 level. This zone provided enough support for the price to consolidate by trading sideways above it. However, on Wednesday morning another attempt to pass it was made. The near term future scenarios were based upon whether or not the support zone holds. Due to that reason, Tuesday's forecasts remained
Gold ended the sideways trading in a twenty dollar range just after mid-day on Monday. The commodity price passed the support of the 1,722.20/1,725.30 zone. It resulted in a sharp move down, which was followed by narrow sideways trading. On Tuesday, the decline resumed, as by the middle of the day, the price had reached below the 1,690.00 level. Economic Calendar Analysis On
The yellow metal remains in the range between the two support zones that were marked last week. From above, the rate is facing resistance from 1,745.55 to 1,747.30. From below, a support zone is located at 1,722.20/1,725.30. In the meantime, it was spotted on Monday that the metal's price was being impacted for short time periods by he 55, 100 and
The yellow metal continued to trade sideways in a wide range. On Friday, analysts marked the borders of the zone. From above, the rate is facing resistance from 1,745.55 to 1,747.30. From below, a support zone is located at 1,722.20/1,725.30. Economic Calendar Analysis Next week, on Wednesday, at 13:15 GMT, the US ADP Non-Farm Employment Change is set to be released. On