Prior to the Federal Reserve interest rate hike, the EUR/USD approached the 1.1085/1.1095 resistance zone. After the hike and the follow up press conference, the currency exchange rate continued to test the resistance. If the Euro strengthens during the upcoming ECB rate hike, the pair could reach above 1.1095 and 1.1100. In this case scenario the pair might be slowed
Gold spiked on Monday. However, the spike was followed by a drop back to previous levels. On Tuesday, the price continued to trade between 1,980.00 and 1,990.00. In general, the situation remains unchanged since April 19, as the commodity price waits for the US Federal Reserve rate hike. A recovery of the metal's value might encounter resistance in the 2,000.00 mark
The USD/JPY has managed to reach above 137.00 and 137.50 levels. During the surge, some resistance was provided by the weekly R1 simple pivot point at 137.53. It was observed during mid-Tuesday that the pair was consolidating in the expectations of the Wednesday's Federal Reserve rate hike. In the case of a strengthening of the USD, the rate could be slowed
The GBP/USD has passed below the support levels near 1.2500. By mid-Tuesday, the rate had touched the 1.2460 level. An extension of the ongoing decline might find support in the weekly S1 simple pivot point at 1.2437. Further below, note the support zones at 1.2387/1.2390 and 1.2345/1.2350. On the other hand, a recovery of the pair is set to face the
The EUR/USD has passed below the support zone at 1.0965 and the weekly S1 simple pivot point at 1.0953. However, it was observed that despite being pierced the pivot point had held. A recovery of the Euro against the US Dollar might face resistance in the 1.1000 mark and the 50 and 200-hour simple moving averages. Higher above, note the
In general, the price for gold remains in previous range. However, take into account that round price levels appear to be providing short term impact on the commodity price. Meanwhile, broader support and resistance zones remain unchanged. A recovery of the metal's value might encounter resistance in the 2,000.00 mark and the 2,000.00/2,010.00 range. Higher above, note that round price levels
The release of the higher than expected US Core PCE Price Index has indicated that the Federal Reserve continues to fail its fight against US inflation. It signals that the Fed is set to hike interest rates and continue with its hawkish monetary policy. Namely, the value of the US Dollar is set to rise due to rising US interest
Due to an unclear reason, the release of the US Core PCE Price Inflation has caused a surge of the Pound against the US Dollar. The US inflation came in higher than expected, which in theory should have strengthened the US Dollar and cause a GBP/USD decline. Meanwhile, the GBP/USD is the only US Dollar pair, where the peer currency
The EUR/USD appears to be waiting for the Wednesday's Federal Reserve interest rate hike. Meanwhile, from a technical analysis perspective, the pair has revealed a resistance zone near 1.1100 and support near 1.0965. On Monday, the pair was located near the 1.1000 mark. A potential decline of the Euro against the US Dollar might look for support at 1.0965. Near
Gold has continued to test the 2,000.00/2,010.00 range's resistance. Each time the metal makes an attempt, a US data release causes a strengthening of the US Dollar and subsequent drop of the price for Gold. At mid-day on Thursday, the US GDP caused a drop of the price down to 1,985.00. The United States Bureau of Economic Analysis has just
Despite piercing the weekly S1 simple pivot point and declining to almost 133.00, the USD/JPY recovered on Wednesday. In general, the rate appears to be consolidating in a range between 133.00 and 134.00, as it expects more US financial data. The US Advance GDP on Thursday at 12:30 GMT, the US Core PCE Price Inflation at 12:30 GMT on
At mid-day on Wednesday, the GBP/USD was making another attempt to reach above the 1.2500 mark, as the US Durable Goods Orders data was released. The data revealed that US consumers continue to buy long term use goods, which signals that inflation would remain high. In turn, high inflation might force the US Federal Reserve to hike interest rates more
The EUR/USD was heading to the 1.1100 mark at mid-day on Wednesday, as the US Durable Goods Orders data was released. The data revealed that US consumers continue to buy long term use goods, which signals that inflation would remain high. In turn, high inflation might force the US Federal Reserve to hike interest rates more than expected. Due
Gold started a surge at the start of Tuesday's US trading hours, as US banks experienced another stock price crash. However, the surge was stopped by the 2,000.00/2,010.00 range's resistance. Meanwhile, it was spotted on Wednesday that the price was finding support in the 50 and 100-hour simple moving averages. In general, previous forecast scenarios remain relevant. A recovery of
The decline of the US Dollar against the Japanese Yen has reached the combined support of the weekly S1 simple pivot point at 133.37 and the 133.40 level. Meanwhile, it has been observed that the 133.80 level acts as resistance. A decline below 133.40 might be slowed down by the 133.00 level and the weekly S2 simple pivot point at 132.67.
The GBP/USD currency exchange rate has bounced off the support of the 1.2400 mark. Previously, the pair respected resistance of the 1.2500 mark. At mid-day on Wednesday, the pair was heading to the 1.2500 mark. A move above the 1.2500 mark and the resistance zone at it could be slowed down by the weekly R2 simple pivot point at 1.2542.
The EUR/USD found support in the weekly simple pivot point at 1.0965 The event was followed with a surge of the rate up to the resistance of the 1.1060 level. At mid-day on Wednesday, the rate was testing the resistance level. A move above 1.1060 might be slowed down by the 1.1080 and 1.1100 levels, before approaching the weekly R3
The price of Gold ignored the 50 and 100-hour simple moving averages and approached the 2,000.00 mark. At midnight to Tuesday the price bounced off the round level. By mid-Tuesday, the metal appeared to be heading back to the 1,970.00/1,975.00 support zone. A decline of the commodity price would have to reach below 1,970.00, before approaching the February and January
The USD/JPY currency rate shortly retreated below the support of the 200-hour simple moving average and the 134.00 mark. An extension of the ongoing decline might look for support in the 133.50 level, the weekly S1 simple pivot point at 133.37, the 133.00 mark and weekly S2 at 132.67. However, a recovery of the US Dollar against the Yen is set
The GBP/USD mark shortly reached above 1.2500 at midnight to Tuesday. However, the event was followed by a decline of the Pound against the US Dollar. By mid-Tuesday, the rate had reached the combined support of the 50, 100 and 200-hour simple moving averages near 1.2440. A move below the simple moving averages could look for support in the weekly
The EUR/USD reached above the 1.1060 level at midnight to Tuesday. Afterwards, a decline started, as by mid-day the pair had reached below 1.1020. If the pair declines even more, it could look for support in the 50-hour simple moving average at 1.1010, the 1.1000 mark and the combination of the 100 and 200-hour SMAs near 1.0990. Further below, note
Gold has revealed that it respects the range between 1,970.00 and 1,975.00 as support. Meanwhile, the 50 and 100-hour simple moving averages have acted as resistance. On Monday, the moving averages were approaching the price from above, as the metal continued to find support in 1,975.00 A move of the price above 1,990.00 and the moving averages might encounter resistance in
Despite piercing the support of the 134.00 level, the USD/JPY was still trading in the 134.00/135.00 range on Monday. The rate suddenly surged on Friday at 13:45 GMT, as the US Flash Services and Manufacturing PMI data sets were released. The data strengthened the US Dollar due to showing positive tendencies among US producers. In the case of a continuous
The GBP/USD has ignored the support zone near 1.2400, but appears to be still respecting the resistance of the 1.2468/1.2474 range. On Monday, the rate approached the resistance and started to test it. Meanwhile, support appears to have been provided by the 50, 100 and 200-hour simple moving averages. A move above the 1.2475 level might encounter resistance in the weekly