The support of the 1.1120 level has forced the EUR/USD into a retracement back up. A retracement, which on Friday morning was about to reach the 1.1160 level. At that level the rate was expected to face the resistance of the 100 and 200-hour simple moving averages. The future forecasts are based on these SMAs. Latest Fundamental Event The European Common Currency
Gold has continued to trade with high volatility. By the middle of Thursday's trading session gold prices had declined below most close by technical support levels. In general, the rate was expected to continue its decline until it reaches the support of a 38.20% Fibonacci retracement level at 1,273.68. Economic Calendar Analysis On Thursday, at 12:30 GMT the US Preliminary GDP will be
The USD/JPY has ignored the technical levels that were expected to push it down. The rate has surged up to the 109.80 level. If the rate manages to pass the resistance levels at 109.80, it could reach the 110.23 level. Latest Fundamental Event The Federal Reserve released the FOMC Meeting Minutes data, where the US policymakers provide in-depth insights into the economic and
As expected, the hourly simple moving averages have pushed the GBP/USD into reaching a new low level. Namely, the rate has been pushed into trading between the 1.2620 and 1.2640 levels. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release on Friday at 08:30 GMT. The GBP/USD exchange currency rate lost 5
The EUR/USD has reached another target. The currency exchange rate has fallen to the support of the weekly S1 at the 1.1138 level. In addition, the rate passed this support level and reached as low as 1.1125. Latest Fundamental Event The European Common Currency depreciated against the US Dollar, following the German Flash PMIs data set release on Thursday at 01:30 GMT.
Gold has increased its trading volatility. Namely, it is moving more sharply with larger hourly candles. In regards to the future, the metal is still expected to test the resistance of the monthly pivot point at 1,287.27. Economic Calendar Analysis This week there are three notable events on the economic calendar that traders will watch. On Wednesday, the markets will watch the Bank of
The decline of the USD/JPY is being stopped by the psychological support of the 109.20 level. Namely, someone with enough capital to move the rate starts buying at that level. Meanwhile, from a technical perspective the 55 and 100-hour simple moving averages should push the rate down. Latest Fundamental Event The Federal Reserve released the FOMC Meeting Minutes data, where the US policymakers provide
The GBP/USD continues on its way down to the support level at 1.2609. The rate is expected to trade sideways from time to time until the 55 and 100-hour simple moving averages approach and push the rate down. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release on Friday at 08:30 GMT.
By the middle of Wednesday's trading session the EUR/UD continued its decline, as it was forecast on Tuesday. Moreover, it is expected that the currency exchange rate will continue to decline until it reaches the support of the weekly S1 at the 1.1139 level. Latest Fundamental Event The European Common Currency depreciated against the US Dollar, following the German Flash PMIs data
Gold failed at its second attempt to pass the resistance of the monthly pivot point at 1.287.27. The event was followed by a decline, which was stopped by the 200-hour simple moving average. In regards to the near term future, another attempt at the resistance of the pivot point is expected. Economic Calendar Analysis This week there are three notable events on the
During the last twenty four hours the USD/JPY traded sideways just below the 109.60 level. On Tuesday morning, it bounced off the resistance level and began the previously expected decline. Latest Fundamental Event The Federal Reserve released the FOMC Meeting Minutes data, where the US policymakers provide in-depth insights into the economic and financial conditions that influenced their vote on where to set
The previously described technical support levels did not held ground, as it was expected. The GBP/USD has no technical support level as low as the weekly S1 at the 1.2609 level. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release on Friday at 08:30 GMT. The GBP/USD exchange currency rate lost
On Tuesday, the EUR/USD had declined, as it was previously forecast. In general, the rate had reached the cluster of support levels near 1.1175. In general, the pair was expected to continue its decline as soon as it consolidates the recent small scale decline. Latest Fundamental Event The European Common Currency depreciated against the US Dollar, following the German Flash PMIs data
The previous forecast did not became reality, as the metal's price did not reach the support of the 1,280.00 level. Instead, the 1,282.00 was strong enough to provide the needed support for the commodity price to make another attempt to pass the resistance of the monthly pivot point at 1,287.27. Economic Calendar Analysis This week there are three notable events on the economic
The decline of USD/JPY has reached the 109.30 level. Although, after touching it, the rate retraced back up to the resistance of the 109.60 level. In general, the rate was expected to be pushed down by the resistance of the 55-hour simple moving average, which was approaching the rate. Latest Fundamental Event The Federal Reserve released the FOMC Meeting Minutes data, where the
On Monday morning, in the aftermath of reaching the 1.2740 level the GBP/USD dropped suddenly down to the 1.2680 level. Moreover, it could be observed that, if the 1.2680 does not hold, the rate will have no technical support as low as 1.2609. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release
On Monday, the EUR/USD traded near the 1.1200 level. Namely, the pair had pierced the 1.1200 level and bounced off resistance at 1.1217. In general, the rate was expected to remain near the 1.1200 level until the technical support of the hourly simple moving averages pushes it upward. Latest Fundamental Event The European Common Currency traded sideways against the US
As expected, gold surged on Thursday. The upwards move occurred in a sharp surge at the middle of the day. Moreover, the metal's price gained more than it was expected. On Friday, the metal had bounced off resistance and declined down. The decline was expected to reach the 1,280.00 level. Economic Calendar Analysis The week will end with the US Durable Goods Orders
The USD/JPY has reached a new low level, as on Friday the rate traded in limbo around the 109.60 level. Namely, the 109.45 level was supporting the rate and the 109.70 level was providing resistance. Latest Fundamental Event The Federal Reserve released the FOMC Meeting Minutes data, where the US policymakers provide in-depth insights into the economic and financial conditions that influenced their
On Friday morning the GBP/USD touched the upper trend line of the descending channel pattern of the hourly candle chart. The event resulted in a decline, which needed to pass the support of an hourly simple moving average for the rate to drop once more to 1.2600. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK
The EUR/USD has jumped back up to 1.1200 level. The move occurred in a sudden sharp move at the middle of Thursday. However, before the jump the rate reached the 1.1100 level. Note that our analysts had set the target of the pair at 1.1120. It means that the rate clearly reached below the target and scored even more
EUR/USD has continued to decline, as it was forecast in one of the previously described scenarios. Namely, the FOMC Meeting Minutes release at 18:00 GMT began a decline, which by the middle of Thursday's trading session had reached the 1.1130 level. In the near term the rate was expected to reach down to the 1.1125 level. Latest Fundamental Event The European Common
After trading sideways for two consecutive days and consolidating its decline, on Thursday gold broke resistance levels and signalled a surge. Namely, the 55 and 100-hour simple moving averages were broken by the middle of London's trading. The rate had no technical resistance levels as high as 1,284.00. Economic Calendar Analysis The week will end with the US Durable Goods Orders and Core
The decline of the USD/JPY extended itself below the support levels near 110.40. By the middle of Thursday's trading session the rate had reached the 110.00 level. The decline was expected to continue down to the 109.90 level, where the 200-hour simple moving average was located at. Latest Fundamental Event During previous Monday's trading session, the Japanese Yen appreciated 54 pips or 0.50%