Since the start of Wednesday's trading, the yellow metal has been trading between the 1,730.00 and 1,740.00 levels. In the meantime, the price is being slightly impacted by the hourly simple moving averages and the Fibonacci retracement levels of the March 18 high and the March 12 low levels. In regards to the near term future, the rate is highly likely
In a sharp move just after mid-day on Tuesday, the support of the 200-hour simple moving average was passed. However, almost immediately the rate found support in the 1,725.00 level. By the middle of Wednesday's European trading hours, the metal's price had retraced back up to the 1,735.00 level. Economic Calendar Analysis On Wednesday, at 13:45 GMT the US Services and Manufacturing PMIS
Since the middle of Monday's European trading, the commodity price has continued to be supported by the 200-hour simple moving average. In the meantime, the price almost ignored the 55 and 100-hour simple moving averages. Economic Calendar Analysis On Wednesday, at 13:45 GMT the US Services and Manufacturing PMIS could cause moves. On Thursday, the US Final GDP is set to be released
The yellow metal's surge, which was started by the support of the 200-hour SMA on Thursday, eventually found resistance. Namely, the 1,745.50/1,747.40 zone provided resistance. By the middle of Monday's trading, the commodity price had retraced down to the support 200-hour simple moving average. Economic Calendar Analysis On Wednesday, at 13:45 GMT the US Services and Manufacturing PMIS could cause moves. On Thursday, the
At mid-day on Thursday, the yellow metal's price found support in the 200-hour simple moving average and the 1,720.00 level. Afterwards, a surge followed. By the start of Friday's European trading hours, the metal had passed the resistance of the 55 and 100-hour SMAs and was testing the 1,740.00 mark. Economic Calendar Analysis On Wednesday, at 13:45 GMT the US Services and Manufacturing
As the yellow metal's price was looking for support in the 100-hour SMA in the aftermath of breaking out of the ascending triangle pattern, the Federal Reserve made an announcement. Namely, the stimulating US monetary policy would remain intact. It caused high volatility with an initial surge to the 1,750.00 level and afterwards the 1,755.00 level. It was followed up by
On Wednesday morning, the support of the 55-hour simple moving average reached the yellow metal's price. Previously, on Tuesday, the rate bounced off the resistance of the 1,740.00 mark. In the meantime, a pattern has been spotted on the chart. In the meantime, a pattern has been spotted on the chart. Economic Calendar Analysis On Wednesday, the US Federal Reserve is set to
Since the start of this week's trading, the price for gold has remained near the 1,730.00 level. However, on Tuesday morning, the rate had shortly pierced the resistance of the 1,735.00 level. Moreover, it was not retracing down to the support of the 55-hour simple moving average near 1,724.00. Economic Calendar Analysis On Tuesday, at 12:30 GMT expect the US Retail Sales and
The price for gold has recovered due to finding support in the 1,700.00 level. By the middle of Monday's trading hours, the commodity price had reached the 1,735.00 level. In the meantime, support was provided by the 55-hour simple moving average near the 1,720.00 level. Economic Calendar Analysis On Tuesday, at 12:30 GMT expect the US Retail Sales and Core Retail Sales
The yellow metal found resistance in the 1,740.00 level, which was enough for it to decline. The decline was only slowed down by the 55-hour simple moving average. However, eventually the SMA failed. By mid-day on Friday, the metal had reached the 1,700.00 mark. Economic Calendar Analysis On Tuesday, at 12:30 GMT expect the US Retail Sales and Core Retail Sales data.
The most important fact to mention in regards to gold is that it has broken the upper trend line of the pattern, which guided it down since early February. This indicates that the decline of the metal could be over and a recovery is starting. Economic Calendar Analysis The notable data releases for this pair this week are over. Next week's events
As it was speculated on Tuesday, the yellow metal was impacted by round price levels before reaching the 200-hour simple moving average. Namely, the 1,710.00 and 1,720.00 levels provided the commodity price with both support and resistance. In the meantime, on Wednesday, the price was being approached by the mentioned SMA. Economic Calendar Analysis On Wednesday, the US Consumer Price Index data could
The yellow metal's price found support in the 1,680.00 level before starting a recovery. At mid-day on Tuesday, the commodity price passed the resistance of the 100-hour simple moving average near the 1,700.00 mark. Due to that reason, the metal had no technical resistance as high as the 200-hour simple moving average at 1,727.45. Economic Calendar Analysis On Wednesday, the US Consumer Price
During early Monday's trading, the metal made a failed attempt at surging. The attempt was stopped by the resistance of the 100-hour simple moving average. By the middle of the day, the price had returned to the 1,690.00 level's support. Economic Calendar Analysis On Wednesday, the US Consumer Price Index data could cause a minor move on USD assets at 13:30 GMT. Click
The yellow metal has retreated to trade sideways below the 1,700.00 level. Namely, it continues to trade sideways in an almost ten dollar range by fluctuating between the 1,690.00 and 1,700.00 levels. It changed the spot of trading sideways during the speech of the Chairman of the US Federal Reserve, which strengthened the US Dollar. Economic Calendar Analysis On Friday, at 13:30
Since the middle of Wednesday, the yellow metal has traded between the 1,710.00 and 1,720.00 levels. In the near term future, the metal could be pushed down by the resistance of the 55 and 100-hour simple moving averages. Economic Calendar Analysis On Wednesday, the US ADP Non-Farm Employment Change at 13:15 GMT will be on the headlines. On the same day, at
Late on Tuesday, the metal's price found resistance in the 1,740.00 mark and began a decline. During early hours of US trading, the metal had almost reached the support of the 1,700.00 mark. It was expected that this level could provide support and stop the decline. Economic Calendar Analysis On Wednesday, the US ADP Non-Farm Employment Change at 13:15 GMT will be on
The yellow metal reached the 1,710.00 level just after midnight to Tuesday, GMT hours. Afterwards, throughout most of the day, the price was recovering. In the near term future, the metal could be pushed down by the resistance of the 55-hour simple moving average, which approached the rate. However, a lower trend line of a large scale pattern was located
On Friday, the yellow metal's price broke the descending wedge pattern. The break-out was followed by a sharp decline to the 1,720.00 mark. However, a recovery followed after reaching this level. By the middle of the day's European trading, the metal was testing the resistance of the round price level of 1,760.00. Economic Calendar Analysis On Monday, the US ISM Manufacturing PMI could
Gold has dropped to the 1,760.00 level and on Friday tested the lower trend line of the declining wedge pattern. Future scenarios were based upon whether or not the trend line manages to hold. Economic Calendar Analysis Next week, notable data releases start on Monday. On that day, the US ISM Manufacturing PMI could cause a move. On Wednesday, the US ADP Non-Farm
The yellow metal's price has ended trading sideways by declining below the 1,800.00 level. However, on Wednesday and Thursday the rate was finding support I the 1,785.00 level. Meanwhile, the price had declined below the hourly simple moving averages. Economic Calendar Analysis During the week, only the US Preliminary GDP release on Thursday at 13:30 GMT could cause a notable sudden move. Click on
Since finding resistance in the 1,815.00 mark, the yellow metal's price has been trading sideways between the 1,800.00 and 1,815.00 levels. In the meantime, the 55-hour simple moving average had caught up with the price. It was spotted that on Tuesday and Wednesday the SMA was providing the price with support. Economic Calendar Analysis During the week, only the US Preliminary GDP
The surge of gold found resistance in the 1,815.00 level, which caused retracement down to the 1,805.00 level. Note that the 1,805.00 mark was strengthened by the support of the 200-hour simple moving averages. Economic Calendar Analysis During the week, only the US Preliminary GDP release on Thursday at 13:30 GMT could cause a notable sudden move. Click on the link below to
Since Friday morning, the price for the yellow metal has recovered almost 3.00%. During early US trading hours, the commodity reached above the last of the hourly moving averages and the 1,810.00 level. Economic Calendar Analysis During the week, only the US Preliminary GDP release on Thursday at 13:30 GMT could cause a notable sudden move. Click on the link below to find