On Wednesday, the yellow metal's price plummeted more than 1.50%. The drop was caused by the growing strength of the US Dollar. The surge of the USD was attributed to the markets selling off various assets in preparation for the US Elections. Economic Calendar Analysis On Thursday, at 12:30 GMT two events will be released that the financial media will talk about.
The 104.60 level did not provide enough support to hold the USD/JPY rate up for long. Namely, the rate traded above the 104.60 from 13:00 GMT on Tuesday to until 01:00 GMT on Wednesday. On Wednesday, the rate reached the support levels at 104.13, which caused a retracement back up to the 104.40 mark. Economic Calendar On Thursday, at 12:30 GMT two
By the middle of Wednesday's GMT trading hours, the GBP/USD currency exchange rate had passed the support of the 1.3000 mark. In addition, the currency pair broke out of the channel up pattern that had guided the rate since late September. In regards to the near term future, the pair had no technical support as low as the weekly S1
The EUR/USD has broken out of the triangle pattern to the downside. By the middle of Wednesday's GMT trading hours, the currency exchange rate had reached the 1.1740 mark. Moreover, the pair had no support as low as the 1.1707 level, where a 61.80% Fibonacci retracement level was located at. Economic Calendar Analysis On Tuesday, the US Durable Goods Orders and Core
On Monday, the rate managed to pass the resistance of the 55 and 200-hour simple moving averages. It resulted in a failed attempt to pass the 1,910.00 level. On Tuesday, the rate had declined and found support in the 1,900.00 mark. Economic Calendar Analysis On Tuesday, the US Durable Goods Orders and Core Durable Goods Orders will be released at 12:30 GMT. On
On Tuesday, the USD/JPY retreated to the 104.60 level. The decline was caused on Monday by the resistance of the 105.00 level. The near term future was dependant on what would happen at the 104.60 mark, as this level previously provided support. Economic Calendar On Tuesday, the US Durable Goods Orders and Core Durable Goods Orders will be released at 12:30 GMT.
On Tuesday, the GBP/USD was squeezed in between the resistance of the 55-hour simple moving average and the support of the 200-hour SMA. As the 55-hour SMA was pressuring the rate from above, a classic squeeze was expected. Namely, the rate would decrease its volatility, as the SMAs approach one another, which would then result in a sudden sharp move
On Tuesday morning, a triangle pattern was spotted on the hourly chart of EUR/USD. On Tuesday morning, the rate appeared to be making an attempt to break out of the pattern to the downside. The near term future scenarios were based upon whether or not a breakout occurs. Economic Calendar Analysis On Tuesday, the US Durable Goods Orders and Core Durable Goods
As it was speculated last Monday, the DUK+/EUR made a sharp move, as soon as buying orders appeared. Namely, the rate jumped to the closest by sell orders at 1.7000. At that level selling started. By the middle of October 26 trading, the rate had retreated back to the 1.5500 level. Daily Candle Chart During the last couple of weeks it was
On Monday, the yellow metal's price surged and reached the resistance of the 55 and 200-hour simple moving averages at 1,905.00. Future forecasts were based upon whether the two technical resistance levels manage to hold the price down or not. Economic Calendar Analysis On Tuesday, the US Durable Goods Orders and Core Durable Goods Orders will be released at 12:30 GMT. On Thursday,
On Monday, the USD/JPY currency exchange rate was testing technical resistance levels near the 105.00 level. Future scenarios were based upon whether the 105.00 level is passed or the rate bounces off it. Economic Calendar On Tuesday, the US Durable Goods Orders and Core Durable Goods Orders will be released at 12:30 GMT. This event has caused moves on the USD/JPY from
On Monday, the GBP/USD currency exchange rate declined and touched the support of the 1.3000 level. This level provided support and kept the pair from reaching the lower trend line of a channel up pattern. In the meantime, note that the 55-hour simple moving average was providing effective resistance to the currency pair. Economic Calendar On Tuesday, the US Durable Goods Orders
The EUR/USD started the week by trading above the 1.1800 level, where it ignored technical levels. Namely, the rate did not respect the 55 and 100-hour simple moving averages and the weekly simple pivot point. In regards to the near term future, the rate was expected to retreat and look for support near the 1.1800 level. Economic Calendar Analysis On Tuesday, the
On Thursday, the yellow metal did not find enough support in the 55, 100 and 200-hour simple moving averages. Instead, the metal dropped, passed the lower trend line of a channel up pattern and touched the 1,895.00 mark. On Friday, the commodity price was recovering after the recently experienced drop. By the middle of the day, the price had reached the
The recovery of the USD/JPY was stopped at GMT midnight from Thursday to Friday. At that time, the rate bounced off the resistance of the 55-hour SMA and began a decline. On Friday morning, the SMA had pushed the pair down to the 104.60 mark. Economic Calendar On Friday, the US Markit Flash Services and Manufacturing PMIs could cause a move
The decline of the GBP/USD ended at the 1.3050 mark, as the rate found support at this level on Friday morning. By 08:30 GMT, the rate's surge had passed the resistance of the 55-hour simple moving average and had no resistance. Due to that reason, the rate could reach back up to the 1.3176 level, where the weekly R2 simple
The recent decline of the EUR/USD paused at midnight to Friday, as the pair touched the 1.1790 level before starting to trade sideways above the 1.1800 mark. At 07:30 GMT on Friday, the rate ended the sideways consolidation, as it surged to the 1.1820 mark. It was a signal that the rate could surge even higher. Economic Calendar Analysis Next week, on
Gold's gradual surge has reached a new round price level. Namely, the 1,930.00 level was reached on Wednesday. Afterwards, a decline followed. On Thursday, the commodity price reached the support of the 55-hour simple moving average near 1,913.00. The SMA stopped the metal's decline. Economic Calendar Analysis On Thursday, the weekly US Unemployment Claims will be out at 12:30 GMT. On Friday, the US
The decline of the USD/JPY stopped on Wednesday at 104.35. Afterwards, a recovery began, which by the middle of Thursday's European trading had reached the 104.80 mark. US Dollar Drops on Stimulus Talks From Tuesday to Wednesday, the US Dollar depreciated actively against the Japanese Yen. The USD/JPY currency pair lost 137 pips or 1.30%. It is likely that the
Wednesday's surge ended at the weekly R2 simple pivot point at 1.3176. The GBP/USD touched this level and began a decline. On Thursday morning, the currency exchange rate had declined to the 1.3100 level and had no technical support as low as 1.3050. UK CPI Caused a Surge The British Pound appreciated against the US Dollar, following the UK CPI data
The surge of the EUR/USD reached the 1.1880 level on Wednesday. This level provided resistance together with the weekly R2 simple pivot point that is located at 1.1884. The following decline found support in the 1.1840 mark, which was supported by the 55-hour simple moving average. It was expected that the SMA would push the rate into another test of
The yellow metal managed to pass the resistance of the 1,915.00 level. However, the 1,920.00 mark immediately stopped the rate's surge. On Wednesday, the price fluctuated sideways between the 1,915.00 and 1,920.00 levels. Economic Calendar Analysis On Thursday, the weekly US Unemployment Claims will be out at 12:30 GMT. On Friday, the US Markit Flash Services and Manufacturing PMIs could cause a move. Click on
The USD/JPY surged on Tuesday morning, as it was expected. However, the rate found resistance in 105.75. Afterwards, a decline started, which eventually dropped below all technical support levels. Moreover, on Wednesday morning, a fundamental drop occurred, which stopped just above the 104.80 mark. A report on the drop is expected to be published in the Expert Commentary section after
The GBP/USD broke the wedge pattern in a major sharp fundamental move that was caused by the release of the UK Consumer Price Index. By the middle of Wednesday's European trading hours, the GBP/USD currency pair was trading in limbo around the weekly R1 simple pivot point in the range from 1.3040 to 1.3060. The British Pound appreciated against the US