The consolidation of gains of the metal's price ended with a sharp surge that shortly reached above 2,140.00. Namely, the metal surged by 4.61% as a new month started. However, the gains were quickly erased, as the price returned to levels near 2,020.00. On Wednesday, the price was finding support in 2,020.00 and resistance was provided by the 50-hour
In general, the USD/JPY currency pair remains below 150.00. Meanwhile, it has been spotted that the pair has been impacted by the round levels in the range from 146.50 up to 148.50. On Wednesday, the rate was located between the 147.00 and 147.50 levels. A surge above 147.50 might encounter resistance in the combination of the weekly simple pivot
The Pound has made three attempts to move above 1.2720. All of these attempts failed. This week, the rate appeared to have started a decline, as on Wednesday it moved below 1.2600. If the Pound continues to decline against the US Dollar, it is set to look for support in the 1.2580 and 1.2560 levels. These round levels have shown
Since last week, the US Dollar has continued to strengthen due to the good GDP data giving the needed push. On the EUR/USD charts by mid-Wednesday it had resulted in a decline below 1.0800. An extension of the ongoing decline could look for support in the 1.0750 level or the weekly S2 simple pivot point at 1.0720, before the
Since reaching the 2,050.00 mark, the price for gold has remained below it, as the price appears to be consolidating in the 2,040.00/2,050.00 range. From a fundamental perspective it is explained by the strengthening of the US Dollar that was caused by the publication of the US GDP data. In the near term future, the price could surge due to
Despite the recent strengthening of the US Dollar that was caused by the US GDP data release, the USD/JPY has declined. The rate appears to have been pushed down by the 50-hour simple moving average. On Thursday morning, the currency exchange rate was once again finding support in the 147.00 mark. An extension of the decline would have to pass
The GBP/USD surge has paused due to additional strength of the US Dollar. Namely, the higher than expected Wednesday's reveal of US GDP has strengthened the US Dollar and forced the pair to trade sideways. It has been spotted that the trading occurs between the resistance of the weekly R2 simple pivot point and support of the weekly R1
On Wednesday, at 13:30 GMT, the United States Bureau of Economic Analysis published the US Preliminary Gross Domestic Product data. The markets expected the US GDP to have increased by 5.0% on a quarter to quarter basis. However, the actual number turned out to be 5.2%. The news strengthened the US Dollar and caused a decline of the EUR/USD. However,
The price for gold started a major surge at mid-day on Tuesday. The surge eventually reached and pierced the 2,050.00 mark. During the move, the rate shortly paused near 2,040.00, before breaking the ascending channel pattern to the upside. However, during the first half of Wednesday a retracement downwards occurred, as traders took profits before the release of the
The decline of the US Dollar against the Japanese Yen reached below the 147.00 mark at midnight to Wednesday. However, it was followed by a recovery, as the short sellers are taking gains before the release of the US Gross Domestic Product data scheduled for 13:30 GMT. The data set is expected to impact the pair and set
The GBP/USD gained additional support from the 50-hour simple moving average and extended its surge. The surge eventually hit the resistance of the weekly R2 simple pivot point at 1.2724 that combined with the fundamental background started a consolidating decline. Namely, the markets wait for the US GDP release at 13:30 GMT, due to which profits from the long
The resistance zone at 1.0950/1.0965 failed to hold, as the additional support of the 50-hour simple moving average approached. The follow up surge easily passed above the weekly R1 simple pivot point at 1.0982 and pierced the 1.1000 mark. However, during the first half of Wednesday's trading the pair started a decline. In general, the bulls were taking gains,
After the initial surge, on Monday the price for gold fluctuated between the 2,010.00 and 2,015.00 levels. On Tuesday, the price firmly fluctuated around the 2,015.00 mark. A proper move above 2,015.00 might encounter resistance in other round price levels. In the meantime, any sharp surge is set to be slowed down by the upper trend line of the channel
The USD/JPY currency pair has passed below the support of the 50, 100 and 200-hour simple moving averages, and the combination of the weekly simple pivot point at 148.84 and the support range at 148.55/148.75. On Tuesday morning, the pair found support in the 148.00 mark and confirmed the 148.55/148.75 range as resistance. In the near term future, it is
The GBP/USD currency exchange rate has continued to benefit from the broader weakness of the US Dollar. Most recently, the pair managed to reach above the 1.2600 mark. On Monday the 1.2600 mark was confirmed as support. On Tuesday, the rate was approached by the additional support of the 50-hour simple moving average. A potential surge is expected to encounter
On Monday, the EUR/USD currency exchange rate approached the November high level zone at 1.0950/1.0965. By mid-Tuesday, situation had not changed, the rate remained below this level and was testing its resistance. A breaking of the resistance zone could result in the pair testing the resistance of the weekly R1 simple pivot point at 1.0982. Higher above, take into account
The support of the 100-hour simple moving average held on and eventually forced the price for gold to surge. The surge managed to finally break the resistance of the 2,005.00 level. During the first half of Monday's trading the surge struggled to reach above the 2,015.00 level that has turned out to be resistance. A move above 2,015.00 might encounter
The USD/JPY has continued to try and move above the 149.65/149.75 range. On Monday, the pair once again failed. However, this time the failure resulted in a decline. The rate move to the 148.55/148.75 range, which provided support. By mid-Monday, the pair had started a recovery that was approaching the 149.50 level and the 50 and 200-hour simple moving
The GBP/USD currency exchange rate has continued to benefit from the broader weakness of the US Dollar. Most recently, the pair managed to reach above the 1.2600 mark. The rate could confirm the 1.2600 level as support and start a surge. A potential surge is expected to encounter resistance in the weekly R1 simple pivot point at 1.2663, before the
The EUR/USD currency exchange rate has approached the November high level zone at 1.0950/1.0965. A breaking of the resistance zone could result in the pair testing the resistance of the weekly R1 simple pivot point at 1.0982. Higher above, take into account that the 1.1000 mark could provide resistance, before the weekly R2 at 1.1030 would be reached. However, a potential
Since mid-Tuesday, the price for gold has been kept up by the 100-hour simple moving average. Moreover, support was found in the 1,990.00 mark. As the price fluctuated sideways, it is set to reach the lower trend line of the channel up pattern. The price needs to pass this week's high levels near 2,005.00 to move higher. A surge above
In general, the USD/JPY still remains near 149.50. However, the pair has been reached by the 50 and 200-hour simple moving average. In general, the rate is squeezed in, which indicates taht a sharp move up or down is set to follow. A move above 149.50 could be slowed down by the 150.00 mark. Higher above, note the the weekly
After the UK PMI caused jump, the GBP/USD consolidated and traded near 1.2530. However, on Friday morning, the pair started to surge, as by mid-day the weekly R1 to simple pivot point's resistance was being tested at 1.2575. In the case of the Pound surging against the US Dollar above the weekly R1 at 1.2575, the rate could be slowed
Due to the US holidays the markets are closed in the United States, which has reduced volatility. In general, it has resulted in the EUR/USD remaining near the 1.0900 mark. A resumption of the previous decline would have to pass below the 50-hour SMA and the 1.0900 mark. Further below, the rate could look for support in the