Since the middle of Monday's European trading hours, the yellow metal has traded between the 55 and 100-hour simple moving averages. The situation changed on Tuesday morning, as the rate passed the support of the 100-hour SMA. However, this did not result in the previously expected decline to the support of the 23.60% Fibonacci retracement level at 1,860.60 and the
During Monday's European noon trading hours, the USD/JPY passed the support of the weekly simple pivot point, a lower trend line of a channel up pattern and the 55 and 100-hour simple moving averages. However, this did not result in a sharp decline, as the rate began to trade sideways. Economic Calendar The week of Christmas is set to have an
Since Monday morning, the GBP/USD had recovered, as the rate reached back up to trade in the 1.3400/1.3500 zone. Previously, over the weekend there were statements made by one of the UK Ministers, which signalled that the UK would not back down from its position on trade with the EU. Moreover, the minister of health announced a new strain
The EUR/USD ended Monday's high volatile trading at the 1.2240 level, where it met with the resistance of a descending trend line. By the middle of the day's European trading hours, the currency exchange rate had declined and passed the support of three technical levels. Due to that reason, the minor decline was expected to continue. Economic Calendar Analysis The week of
As it was expected, as soon as the DUK+/EUR currency exchange rate ended its consolidation by retracing down, the rate resumed its surge and reached a new high level at 2.3820. However, after reaching this level a new retracement back down started. Clues in regards to where the decline would end could be found in the information about the set
After reaching above the 1,905.00 mark, the yellow metal's price plummeted on Monday morning, as it reached back to the support of the 200-hour simple moving average at 1,855.58. From that level, the rate retraced back up to trade between the support of the 100-hour SMA and the resistance of the 55-hour SMA. Future forecasts were based upon which of the
The USD/JPY has continued to recover, as the rate reached the 103.80 mark on Monday morning. However, the touching of a new high level was followed by a decline back to the support levels near 103.40. In the meantime, a channel up pattern was added to the currency exchange rate, which represents the rate's recovery from the 103.00 mark. Economic Calendar The
The GBP/USD started the week with a gap down and a following decline to the 1.3200 level. The move was attributed to the UK and EU failing to negotiate trade and troubles with the coronavirus. Namely, over the weekend there were statements made by one of the UK Ministers, which signalled that the UK would not back down from its
The EUR/USD started the week's trading with a 100 base point volatility between 1.2130 and 1.2230. In the meantime, it appeared that the rate was ignoring technical levels. It occurred due to the fact that major fundamental events were going on. Namely, the EU and UK trade talks impacted the Euro. Meanwhile, a $900 billion stimulus package was set to be
The XAU/USD exchange rate touched the 1,895.00 level. In general, the metal's price was expected to test the resistance of the 1,900.00 level, which could force the rate into a consolidation by either trading sideways or retracing back down. Economic Calendar Analysis There are no more notable events for the metal this week. However, during Thursday's trading hours the next week's event
The USD/JPY currency pair remains under pressure of the 100-hour moving average near 103.60. Thus, some downside potential could prevail in the market. Note that the pair could gain support from the weekly S3 at 103.00. Economic Calendar There are no more notable events for the rate this week. However, during Thursday's trading hours the next week's event review is set to
During Friday morning hours, the GBP/USD exchange rate declined to the support provided by the 100-hour SMA near 1.3470. The rate could reverse north and re-test the resistance level formed by the weekly R2 at 1.3626. The British Pound depreciated against the US Dollar, following the BOE Monetary Policy Summary release on Thursday at 12:00 GMT. The GBP/USD exchange currency
Despite the drop, which was caused by the FOMC statement late on Wednesday, the EUR/USD currency pair continued its surge. However, note that the pair remains under pressure of the weekly R3 at 1.2277. The Euro depreciated against the US Dollar, following the FOMC Statement release on Wednesday at 19:00 GMT. The EUR/USD exchange currency rate lost 43 pips or 0.36%
The surge of the metal that occurred after confirming the 1,850.00 level as support reached above the 1,895.00 level by the start of Thursday's US trading hours. In general, the metal's price was expected to test the resistance of the 1,900.00 level, which could force the rate into a consolidation by either trading sideways or retracing back down. Economic Calendar Analysis There are
The USD/JPY has continued to decline, as by the middle of Thursday's GMT trading hours, the rate had reached and pierced the 103.00 level. The near term future depended on what would happen at the 103.00 mark. Economic Calendar There are no more notable events for the rate this week. However, during Thursday's trading hours the next week's event review is set
During Thursday's trading, the GBP/USD reached the high level of 1.3625, where it encountered the resistance of a weekly R2 simple pivot point. As the rate reached the pivot point, the Bank of England made a rate statement and a monetary policy summary. The British Pound depreciated against the US Dollar, following the BOE Monetary Policy Summary release on Thursday
Despite the drop, which was caused by the FOMC statement late on Wednesday, the EUR/USD continued its surge. By the middle of Thursday's European trading hours, the currency exchange rate had reached the 1.2260 level. The Euro depreciated against the US Dollar, following the FOMC Statement release on Wednesday at 19:00 GMT. The EUR/USD exchange currency rate lost 43 pips or
The surge of the yellow metal's price reached the resistance of the 1,865.00 mark at mid-day on Wednesday. This round price level provided resistance, which forced the metal into a decline. The following decline reached the previous resistance zone that surrounds the 1,850.00 level and confirmed it as support. During early US trading hours, the metal was resuming its surge. Economic Calendar
The decline of the USD/JPY has continued, as the rate touched the 103.30 level at mid-day GMT hours on Wednesday. However, after touching the 103.30 level, the rate recovered. The recovery reached the resistance of the 103.60 level, from which it could bounce off and resume the decline. Economic Calendar On Wednesday, the day would end with the top event of the
The GBP/USD currency exchange rate has reached a new 2020 high level, as on Wednesday the rate passed the 1.3520 mark. This event is signalling that the rate could reach new highs. However, at mid-day on Wednesday, the rate bounced off the resistance of the 1.3550 level. Economic Calendar On Wednesday, the day would end with the top event of the
The Euro appreciated against the US Dollar, following the German Flash PMIs survey results release on Wednesday at 08:30 GMT. The EUR/USD exchange currency rate gained 40 pips or 0.33% after the release. The Euro continued trading at the 1.2200 level against the Greenback after the release. Markit released the German Flash Manufacturing PMI survey results, which came out better-than-expected of
The low volatility of the DUK+/EUR currency exchange rate resulted in a sharp move upwards, as it was expected and described last week. The rate broke out of the triangle pattern and touched the 2.2000 level before retracing back down. In regards to the future, it appears that future gains are possible in the aftermath of the ongoing retracement back down. Daily
At mid-day on Tuesday, the yellow metal's price broke the resistance zone that surrounds the 1,850.00 psychological level. Next technical resistance, which the price could test would be the 23.60% Fibonacci retracement level at 1,860.60. Future forecasts were based upon what would happen at the 1,860.60 level. Namely, whether or not the resistance level holds. Economic Calendar Analysis On Wednesday, the US Retail
At mid-day during Tuesday's London trading hours, the USD/JPY plummeted, as it bounced off resistance levels near 104.10 and passed the support of the 104.00 mark. In regards to the near term future, the rate was expected to first test the weekly S1 simple pivot point at 103.75 and afterwards the Monday's low level of 103.50. Economic Calendar On Wednesday, the US