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Tue, 19 Mar 2024 13:05:07 GMT

Gold waits the Fed at 2,150.00

The price for gold has traded below the 2,150.00/2,165.00 support range. However, it appears that he price is set to wait out near the 2,150.00 mark until the US Federal Reserve rate announcement and press conference. Meanwhile, some resistance is found in the 50, 100 and 200-hour simple moving averages near 2,155.00/2,165.00. Economic Calendar Analysis All of the financial markets will be

Tue, 19 Mar 2024 13:00:39 GMT

USD/JPY surges despite BoJ hike

The rate is already reacting to central bank announcements. On Tuesday, the Bank of Japan ended eight years of negative interest rates by hiking to 0.10%. This is the first Japanese rate hike in 17 years. In theory, the rate hike should have strengthened the Japanese Yen. However, after a short lived move downwards, the USD/JPY surged and reached above

Tue, 19 Mar 2024 12:52:38 GMT

GBP/USD has returned to 1.2700

The decline of the GBP/UD has reached below the 1.2700 mark. However, it appears that the rate could soon consolidate. Namely, the traders who shorted the drop from 1.2900 to 1.2670 appear to be taking profits, which is causing a surge. Profits are being taken due to the upcoming US and UK central bank rate announcements. Despite market expectations, the two

Tue, 19 Mar 2024 12:47:02 GMT

EUR/USD waits for Fed near 1.0850

After declining below 1.0900/1.0920 range, the EUR/USD returned to the range and confirmed it as resistance at mid-Monday. The event was followed up by a decline that during the first half of Tuesday had reached the 1.0840 level. In general, the pair could soon consolidate due to the upcoming United States Federal Reserve rate hike that is scheduled for late Wednesday.

Thu, 14 Mar 2024 17:26:36 GMT

Gold consolidates

The surge of gold did not reach the 2,200.00 mark. Instead, the metal has been consolidating between two notable ranges. First of all is the resistance of the 2,185.00/2,195.00 range. Most recently, the price has been finding support in the 2,150.00/2,165.00 zone. On Thursday, March 14, the price declined due to the publication of the US Producer Price Index. However, the

Thu, 14 Mar 2024 17:20:01 GMT

USD/JPY breaks resistance of 148.00 level

The USD/JPY has continued to face the resistance of the weekly simple pivot point at 148.03 and the 148.00 level. Meanwhile, support was found at various levels like hourly moving averages and the 147.00 and 147.50 levels. On March 14, the publication of the monthly US Producer Price Index provided the needed energy for a breaking of the weekly

Thu, 14 Mar 2024 17:09:57 GMT

GBP/USD has support at 1.2700

The last week's surge of the pair ended at the 1.2900 mark. Actually, resistance was found at 1.2885/1.2895. In the aftermath of this event, the rate kept finding support in various levels like the lower trend line of the previously active channel up pattern, the 1.2800 and 1.2750 levels and the 1.2760/1.2775 range. However, the release of the US PPI on

Thu, 14 Mar 2024 16:50:30 GMT

EUR/USD looks for support in 100-day SMA

Since the last review of the EUR/USD chart, the pair fluctuated between the support range at 1.0900/1.0920 and resistance of 1.0960 and 1.0980 levels. On Thursday, March 14, the US Producer Price Index data release caused a major surge of the US Dollar. The event resulted in the rate declining below 1.0900. US PPI causes Dollar surge Despite the US Consumer Price

Thu, 07 Mar 2024 16:47:59 GMT

Gold hits new all-time-high

Gold broke the ascending pattern, as the price was consolidating sideways. However, the surge has resumed and the commodity has reached the 2,160.00 level. It is clear now that round price levels impact the metal. By large, until something changes fundamentally in the US monetary policy, it is unlikely that the surge would end. In general retracements occur, price consolidates and

Thu, 07 Mar 2024 16:41:58 GMT

USD/JPY drops to 1998 high

The decline of the USD/JPY continues. On Thursday, the pair found support in the weekly S3 simple pivot point at 147.60. Economic Calendar Top event of the week is scheduled for Friday at 13:30 GMT. The United States employment data sets are going to impact the financial markets. The release consists of Average Hourly Earnings change, Non-Farm Employment Change and the Unemployment

Thu, 07 Mar 2024 16:31:00 GMT

GBP/USD approaches major resistance zone

Recent comments made by the head of the US Federal Reserve have weakened the US Dollar. It has resulted in a surge of the GBP/USD that has continued to break one resistance after another. In addition, it has been spotted that the surge has occurred in a channel up pattern. Economic Calendar Top event of the week is scheduled for Friday at

Thu, 07 Mar 2024 16:24:48 GMT

EUR/USD aims at 1.1000

The EUR/USD managed to finally breach the 1.0860/1.0890 range and the combination of the 1.0900 mark and the weekly R2 simple pivot point. However, the rate consolidated before the ECB policy announcement and the announcement caused a retracement to the support of the passed range and the weekly R1 simple pivot point. After the fundamental event passed, EUR/USD continued the surge. Meanwhile,

Tue, 05 Mar 2024 16:23:01 GMT

Gold books new high, traders add shorts

The surge of gold continues. Moreover, US fundamental data has boosted the gains. At exactly 15:00 GMT, the US Institute for Supply Management published its Purchasing Managers Index. The markets expected the index to show good conditions in the sector, but the actual data disappointed. Due to this reason the US Dollar sharply declined. By late Tuesday's trading, the commodity price

Tue, 05 Mar 2024 16:18:20 GMT

USD/JPY reacts to US data, but is still near 150.00

At exactly 15:00 GMT, the US Institute for Supply Management published its Purchasing Managers Index. The markets expected the index to show good conditions in the sector, but the actual data disappointed. Due to this reason the US Dollar sharply declined. The USD/JPY rate reacted to the news with a decline below the low level range of 149.85/149.95. However, it appeared

Tue, 05 Mar 2024 16:13:37 GMT

GBP/USD is above 1.2700

At exactly 15:00 GMT, the US Institute for Supply Management published its Purchasing Managers Index. The markets expected the index to show good conditions in the sector, but the actual data disappointed. Due to this reason the US Dollar sharply declined. On the GBP/USD charts it resulted in a breaking of the 1.2695/1.2710 range and the weekly R1 simple pivot point. Economic

Tue, 05 Mar 2024 15:59:13 GMT

EUR/USD tests daily moving averages

At exactly 15:00 GMT, the US Institute for Supply Management published its Purchasing Managers Index. The markets expected the index to show good conditions in the sector, but the actual data disappointed. Due to this reason the US Dollar sharply declined. The EUR/USD reacted to the news by resuming its attempts to move above 1.0860/1.0890 range. Economic Calendar Analysis On Wednesday, at

Mon, 04 Mar 2024 13:38:32 GMT

Gold break pattern, hits new high

Gold was already heading higher in an ascending channel, as US fundamental news caused a drop of the US Dollar. The price for gold jumped and almost reached the 2,090.00 mark. There appears to be a resistance zone near that level. Meanwhile, support is found in the 2,080.00 level. Economic Calendar Analysis During the week, noteworthy events start on Tuesday at 15:00

Mon, 04 Mar 2024 13:34:01 GMT

USD/JPY faces resistance at 150.65/150.90

The USD/JPY pair failed to break the resistance f the 150.65/150.90 range. The rate has retraced and found support in the 149.85/149.95 zone. Economic Calendar During the week, noteworthy events start on Tuesday at 15:00 GMT, as at that time the US Institute for Supply Management Services sector Purchasing Managers Index is set to be released. On Wednesday, at 13:15 GMT the US

Mon, 04 Mar 2024 13:27:46 GMT

GBP/USD respects support at 1.2600

The situation has not changed. In general, the GBP/USD has been trading between the 1.2600 and 1.2700 levels. Meanwhile support and resistance from time to time is found in the 1.2620, 1.2640, 1.2660 and 1.2680 levels. In addition, note the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point near 1.2650. On Friday, the pair found support

Mon, 04 Mar 2024 13:22:53 GMT

EUR/USD faces daily moving averages

Since February 21, EUR/USD pair continues to find support in the range near 1.0800. Meanwhile, resistance is provided by the 1.0860/1.0890 range. On Monday, the pair approached the resistance range. Economic Calendar Analysis During the week, noteworthy events start on Tuesday at 15:00 GMT, as at that time the US Institute for Supply Management Services sector Purchasing Managers Index is set to

Fri, 01 Mar 2024 14:17:15 GMT

Gold surges, but traders are short

The 2,035.00/2,040.00 range has been broken. Moreover, the prior resistance has turned into support. At the start of the month, the commodity price reached above 2,050.00, which also appeared to have acted as support. Economic Calendar Analysis During the upcoming week, noteworthy events start on Tuesday at 15:00 GMT, as at that time the US Institute for Supply Management Services sector Purchasing

Fri, 01 Mar 2024 14:12:06 GMT

USD/JPY breaks 2024 channel pattern

Despite the drop to 149.20 that was caused by fundamental events, the USD/JPY has returned to the resistance of the 150.65/150.90 range. Economic Calendar During the upcoming week, noteworthy events start on Tuesday at 15:00 GMT, as at that time the US Institute for Supply Management Services sector Purchasing Managers Index is set to be released. On Wednesday, at 13:15 GMT the US

Fri, 01 Mar 2024 14:06:42 GMT

GBP/USD support and resistance are marked

In general, the GBP/USD has been trading between the 1.2600 and 1.2700 levels. Meanwhile support and resistance from time to time is found in the 1.2620, 1.2640, 1.2660 and 1.2680 levels. In addition, note the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point near 1.2650. Economic Calendar During the upcoming week, noteworthy events start on Tuesday at

Fri, 01 Mar 2024 14:03:01 GMT

EUR/USD faces daily moving averages

The EUR/USD pair continues to find support in the range near 1.0800. Meanwhile, resistance is provided by the 1.0860/1.0890 range. Economic Calendar Analysis During the upcoming week, noteworthy events start on Tuesday at 15:00 GMT, as at that time the US Institute for Supply Management Services sector Purchasing Managers Index is set to be released. On Wednesday, at 13:15 GMT the US ADP

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