After touching the 1,625.00 level on Tuesday, on Wednesday, the yellow metal's price had returned to trade between the 55 and 100-hour simple moving averages. As the rate had already broken the 100-hour SMA's support on Tuesday, it was not expected to hold on Wednesday. Economic Calendar Analysis During the week there are no notable events that might impact gold. However, some
On Tuesday, the yellow metal had retreated down to the hourly simple moving averages. By retracing down, the bullion removed some of the overbought pressure that appeared during this week. By the middle of the day's London trading hours, the commodity price had found support in the 100-hour SMA near 1,635.00 and attempted to pass the 55-hour SMA at 1,655.00. Economic
The yellow metal's surge has reached the 1,690.00 level. Moreover, the price has passed the resistance of a monthly pivot point at 1,667.43. In general, it was expected that the bullion's price would soon test the resistance of the 1,700.00 level. Economic Calendar Analysis During the week there are no notable events that might impact gold. However, some economic calendars have US
The surge of the yellow metal has continued, as on Friday the 1,635.00 level was reached. During the latest surge, the commodity price passed the resistance of a monthly pivot point at the 1,628.78 level. Due to that reason the closest by technical resistance was the monthly R2 simple pivot point at the 1,667.43 level. Economic Calendar Analysis Next week there are
Since the middle of Wednesday's GMT trading hours, the yellow metal's price has been trading sideways around the 1,610.00 level. The commodity price was expected to continue to trade sideways until it would be approached by the support of the 55-hour simple moving average. Economic Calendar Analysis No more data releases that could impact gold's price are scheduled for this week.
The 1,600.00 level has been passed by the yellow metal's price. Moreover, by the middle of Wednesday's London trading hours, the pair had reached the 1,610.00 level. In the meantime, the pair had left below it the hourly simple moving averages, which indicates that the rate is overbought. In addition, the pair broke the upper trend line of a channel
On Monday, the yellow metal ended trading sideways, as it was approached by the 55-hour simple moving average. It resulted in the pair passing the resistance of the 1,585.00 level. By the middle of Tuesday's GMT trading hours, the pair had made an attempt to reach the 1,590.00 level. Economic Calendar Analysis On Wednesday, the Federal Reserve will publish its FOMC
On Monday, the yellow metal's price was consolidating in the aftermath of attempting to pass the resistance of the 1,584.00 level. In general, the pair was expected to resume its surge as soon as the hourly simple moving averages catch up with it. Economic Calendar Analysis There are not many events that could influence the XAU/USD rate. On Wednesday, the Federal Reserve will
The XAU/USD exchange rate tried to surpass the 1,578.00 level. Given that the rate is supported by the monthly PP, it is likely that the price for gold could add to gains. Economic Calendar Analysis Next week there are not much events that could influence the XAU/USD rate. On Wednesday, the Federal Reserve will publish its FOMC Meeting Minutes at 19:00 GMT. Next
The XAU/USD exchange rate breached the medium-term descending channel north. Given that the rate is supported by the monthly PP, it is likely that the price for gold could add to gains. Economic Calendar Analysis This week, notable data releases are set to start on Tuesday. Today, the US CPI data sets are set to be published at 13:30 GMT. Last but
The XAU/USD exchange rate traded along the upper boundary of the medium-term descending channel . Given that the rate is pressured by the 55-, 100- and 200-hour SMAs, it is likely that the price for gold could decline. Economic Calendar Analysis This week, notable data releases are set to start on Tuesday. On Wednesday, the weekly US Crude Oil Inventories will be
The XAU/USD exchange rate re-tested the upper boundary of the medium-term descending channel . Given that the rate is squeezed by the 55-, 100- and 200-hour SMAs, it is likely that the price for gold could consolidate. Economic Calendar Analysis This week, notable data releases are set to start on Tuesday. On Wednesday, at 01:00 GMT the Reserve Bank of New Zealand
The XAU/USD exchange rate has been testing the resistance level formed by the monthly PP at 1,573.09 since Friday. Given that the rate is supported by the 55-, 100- and 200-hour moving averages, it is likely that some upside potential could prevail. Economic Calendar Analysis This week, notable data releases are set to start on Tuesday. On Tuesday, at 09:30 GMT, the
At midnight from Thursday to Friday, the yellow metal's price passed the resistance of the 100-hour simple moving average. By the middle of Friday's European trading hours, the rate had bounced off the resistance of the 1,570.00 level. In the near term future, the pair was expected to trade between the 1,565.00 and 1,570.00 levels. Economic Calendar Analysis Next week,
The yellow metal's price reached the resistance of the 55-hour SMA on Thursday morning. The SMA was broken, and immediately the 100-hour SMA stopped the surge that followed. Afterwards, for seven consecutive hours, the 100-hour SMA kept the price from moving higher. Due to that reason, it was expected that the rate would get squeezed in between the resistance
Since the middle of Tuesday's trading session, the yellow metal's price has been finding support in the 1,550.00 level. The price was expected to be soon approached by the 55-hour simple moving average. The SMA could provide the needed resistance to pass the support of the 1,550.00 level. Economic Calendar Analysis On Friday, at 13:30 GMT both Canada and US
On Tuesday, as risk on sentiment returned to the markets, gold's price passed the support of an ascending channel pattern. In addition, the support of the hourly simple moving averages had been passed. Both of these factors signaled that a decline of the commodity price could be expected. Economic Calendar Analysis Note that on Wednesday, at 13:15 GMT the ADP
On Friday, the yellow metal reached higher than expected. However, by the middle of Monday's trading, the rate had retreated back down to the previous price levels. Namely, the metal traded between the 1,575.00 and 1,580.00 levels. These levels were being strengthened by the 55 and 100-hour simple moving averages. Economic Calendar Analysis The week, as the first of
On Thursday, the yellow metal faced the resistance of the 1,585.00 level, which caused a decline down to the 1,571.00 level, where support was found. At mid-day on Friday, gold traded near 1,580.00, had the support of the 55 and 100-hour simple moving averages, and in theory should once again test the 1,585.00 resistance. Economic Calendar Analysis Next week,
On Thursday, the surge of the yellow metal's price continued, as the pair managed to pass the resistance of hourly SMAs. By the middle of the day's GMT hour trading, the price had already touched the 1,583.00 level. Economic Calendar Analysis There are no more events scheduled for this week that might impact gold through the adjustments of USD valuation. XAU/USD
The yellow metal's price found support in the 200-hour simple moving average near 1.565.00. This event resulted in a surge, which on Wednesday reached for the 1,575.50 level. At that level, the commodity price would test the resistance of the 55-hour simple moving average, which by mid-day was located at 1,575.50. Economic Calendar Analysis On Wednesday, the US Federal Funds
After two attempts to pass the 1,585.00 level, the yellow metal's price began a decline. Namely, on Tuesday the price tumbled below the 55-hour simple moving average near 1,575.00. In the near term future, the price was expected to look for support. Economic Calendar Analysis This week, on Tuesday, minor spike in volatility could occur due to the US Durable
On Monday morning, the price for gold jumped to the 1,585.00 level. It is likely that yellow metal could consolidate in the 1,580.00 area against the US Dollar within the following trading session. Economic Calendar Analysis This week, on Tuesday, minor spike in volatility could occur due to the US Durable Goods Orders Release at 13:30 GMT. On Wednesday,
The recently discovered wedge pattern enforced its borders on Thursday. The metal's price bounced off its lower trend line and reached the January 21 high level. By the middle of Friday's London trading hours, the commodity price had bounced off the high level and reached for the support of the 55 and 100-hour simple moving averages near 1,559.00. Economic Calendar Analysis There are