The yellow metal trades in sudden sharp moves. The most recent move was a surge, which reached the 1,950.00 level that provided resistance. In theory, the metal could surge as soon as the price is approached by the support of the 55 and 100-hour simple moving averages. Economic Calendar Analysis On Thursday, at 12:30 GMT a group of minor US data sets is
The metal's decline did not reach the low level of 1,900.00. Instead, the 1,910.00 mark provided support and caused a retracement back up to the 1,940.00 level. By the middle of Wednesday's GMT trading hours, the price had bounced off the 1,940.00 mark and retreated below 1,925.00. Economic Calendar Analysis On Thursday, at 12:30 GMT a group of minor US data sets is
During Tuesday's morning trading hours, the yellow metal's price bounced off the resistance of the 55-hour simple moving average and began a decline, which was approaching the 1,900.00 level. Economic Calendar Analysis On Thursday, at 12:30 GMT a group of minor US data sets is scheduled to be published. The set will consist of US Producers Price Index, Core Price Index and
On Monday morning, the yellow metal's price reached below the 55-hour SMA, which began to provide resistance. In theory, the SMA could push the price down. In the meantime, more notable developments had taken place on the daily candle chart. The metal has passed the support line of the post-coronavirus recovery channel up pattern. Economic Calendar Analysis On Thursday, at 12:30 GMT a
Since Thursday, the XAU/USD has been consolidating in the 1,935.00 area. Given that yellow metal is pressured by the 55- and 200-hour moving averages, it is likely that some downside potential could prevail in the market. Economic Calendar Analysis On Friday, both Canada and the US are set to release their monthly employment data at 12:30 GMT. Depending on the currencies that one
The squeeze of the yellow metal ended with a break out. Namely, the yellow metal's price broke out of it to the downside and reached below 1,935.00 level. Afterwards, the rate retraced back up to the resistance of the 200-hour SMA, which provided resistance near 1,950.00 and caused a decline. By the middle of Thursday's trading, the rate had touched
On Wednesday morning, the yellow metal's price had declined and started to trade between hourly simple moving averages. Namely, between the support of the 100-hour SMA and the resistance of the 55-hour SMA. Economic Calendar Analysis At 12:15 on Wednesday, the ADP Non-Farm Payrolls could cause a move. Dukascopy Analytics usually ignore this event because prior to August the EUR/USD move range was
During early Tuesday's trading hours the yellow metal's price managed to pass the resistance of the 1,975.00 level. By the middle of the day, the price had reached the resistance of the 1,990.00 level. In the meantime, it was spotted that the 1,985.00 mark was providing support. Economic Calendar Analysis On Tuesday, at 14:00 GMT the US ISM Manufacturing PMI is set
On Friday, the price for gold raised to the 1,975.00 level. It is likely that yellow metal could gain support from the 55-, 100- and 200-hour SMAs and extend gains in the short run. Economic Calendar Analysis The first week of the month is upcoming. It is set to reveal monthly data sets, which are expected to cause notable currency rate adjustments. On Tuesday,
During Friday morning hours, the yellow metal was testing the resistance of the 1,950.00 level. If the level would fail to keep the price down, the metal would have no technical resistance as high as 2,056.09. Due to that reason round price levels should be evaluated for resistance and support. Economic Calendar Analysis The first week of the month is upcoming. It is
The squeeze of the yellow metal resulted first in a false breakout down, which was followed by a break out to the upside. Namely, the pair shortly traded below 1,905.00 before starting a surge, which reached above 1,955.00 On Thursday, the price had retreated and found support in the 1,940.00 level. Economic Calendar Analysis On Thursday, the US Preliminary GDP and the US
Since Tuesday's early trading hours, the yellow metal had continued to trade below the resistance of the 55-hour simple moving average. In the meantime, it was spotted on Wednesday that the 1,914.50 level was providing support. In the near term future, due to the mentioned SMA retreating lower, a squeeze was expected. Economic Calendar Analysis On Wednesday, at 12:30 GMT traders should watch
The yellow metal's price made an attempt to surge above the 1,960.00 mark, and it failed to pass it. The 1,960.00 level did not only provide psychological round price level resistance, but was also strengthened by the resistance of the 100-hour simple moving average. On Tuesday, the rate had retreated and traded below the 55-hour SMA below 1,940.00. Economic Calendar Analysis As the
On Monday, the yellow metal continued to trade below the 1,960.00 level. However, it could be spotted that the price could surge, as the bullion began to break the resistance of hourly simple moving averages. Economic Calendar Analysis As the last week of the month, the following week is expected to be a quiet one. However, there are events that should be
Since the FOMC drop on Wednesday, the yellow metal has traded sideways between the 1,930.00 and 1,950.00 levels. However, on Friday, the rate was being approached by the resistance of the hourly simple moving averages, which could end the sideways trading. Economic Calendar Analysis Next week, as the last week of the month, the following week is expected to be a quiet one.
As the FOMC Meeting Minutes strengthened the USD, the yellow metal's price dropped. The decline of the bullion stopped only near the 1,930.00 mark. On Thursday, the pair traded between the 1,930.00 and 1,950.00 levels. It was expected to continue to do so until it would be approached by the hourly simple moving averages. Economic Calendar Analysis On Thursday, the weekly US Unemployment
The yellow metal's surge bounced off the 2,015.00 level, which resulted in a retracement back down. On Wednesday morning, the price reached the combined support of the 55 and 200-hour simple moving averages and the lower trend line of the channel up pattern just above 1,980.00. Economic Calendar Analysis Despite the t week having high impact events on the calendar, Dukascopy Analytics do
The yellow metal has ended its sideways trading near the 1,950.00 level. The commodity price has surged and reached above the 2,000.00 level During Tuesday morning GMT hours, the metal had no resistance as high as the 2,056.09 level, where a monthly pivot point was located at. Economic Calendar Analysis Despite the t week having high impact events on the calendar, Dukascopy Analytics
On Monday, the yellow metal traded near the 1,950.00 level. In general, the commodity continued to consolidate after the recent high volatility. However, as the rate traded sideways, it passed the resistance of the 55 and 100-hour simple moving averages. Economic Calendar Analysis Despite the t week having high impact events on the calendar, Dukascopy Analytics do not expect notable macroeconomic data caused
Eventually, on Thursday, the commodity price managed to pass the resistance of the 1,950.00 mark and reach the 1,960.00 level. During Friday's trading hours, the price fluctuated between the 1,950.00 and 1,960.00 levels. In addition, the metal could be squeezed in between the support of the 55-hour SMA and the resistance of the 100-hour SMA. Economic Calendar Analysis The week will end with
Since the middle of Wednesday's GMT trading hours, the yellow metal's price has remained below the 1,950.00 mark. In addition, on Thursday, the price remained below the 1,940.00 level, which was strengthened by the 55-hour simple moving average. Economic Calendar Analysis On Thursday, the US Unemployment Claims data might affect the market. The release is scheduled to 12:30 GMT. The week will end with
The decline of the yellow metal's price from recent historical high levels eventually exceeded 10%. Namely, the metal declined from 2,075.93 to 1,863.50. During Wednesday's early trading hours, the commodity price reached the 1,950.00 mark, which stopped a recovery of the metal. Economic Calendar Analysis On Wednesday, the US Core CPI and CPI data will be released at 12:30 GMT. On Thursday, the US
The rate eventually broke the resistance of the 2035.00 level and reached the 2050.00 mark. However, the 2050.00 stopped the surge and caused a decline. By the middle of Tuesday's GMT trading the metal's price had reached below the 2000.00 level and shortly traded at 1985.00. Economic Calendar Analysis On Tuesday, the US Core PPI and PPI data are going to be released
Since Friday afternoon, the yellow metal's price had been testing the support of the 100-hour simple moving average. In the meantime, it could be observed that the 2035.00 level provided resistance. Economic Calendar Analysis The week ahead is going to be relatively calm on the economic calendar. Most of the events, that could impact the markets, are from the US. On Tuesday, the