After trading sideways around the 1,750.00 level, the yellow metal's price declined. On Thursday, the decline reached the 1,731.75 level, where it found support and began a recovery. Economic Calendar Analysis This week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at 13:45 GMT. It could affect gold prices through the strength of the
As speculated on Tuesday, the approaching of the support of the 100-hour SMA provided the needed strength for the yellow metal's price to surge. By the middle of Wednesday's GMT trading hours, the commodity price had reached above the 1,750.00 level. Economic Calendar Analysis This week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at
Since the bounce off from the 1,765.00 level on Monday, the yellow metal has been trading between 1,730.00 and 1,740.00. However, on Tuesday the situation could change, as the rate was approached by the support of the 100-hour simple moving average. Economic Calendar Analysis This week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at
The surge of the yellow metal reached the 1,765.00 level, which it tested throughout Monday morning. However, the resistance held, as the bullion's price plummeted back to 1,735.00 by the middle of the day. Economic Calendar Analysis This week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at 13:45 GMT. 17.05-23.05 Event Historical Reactions XAU/USD
The XAU/USD exchange rate breached the ascending triangle pattern and jumped to the 1,735.00 level. Note that yellow metal remains to be under pressure of the resistance level at 1,740.00. Economic Calendar Analysis Today, the US Retail Sales is being released at 12:30 GMT. Next week, Markit is going to publish the US Flash Manufacturing PMI survey results on Thursday, May 21, at
The XAU/USD exchange rate continued to trade within the ascending triangle pattern. From a theoretical point of view, it is likely that the rate could continue to trade within the given pattern in the short term. Economic Calendar Analysis This week, monthly US inflation and retail sales data sets are bound to cause notable reactions, as they have done in the
Since Monday, the XAU/USD exchange rate has been testing the lower boundary of the ascending triangle pattern. From a theoretical point of view, it is likely that a reversal north could occur in the nearest future. Economic Calendar Analysis This week, monthly US inflation and retail sales data sets are bound to cause notable reactions, as they have done in the
Last week, the XAU/USD exchange rate revealed an ascending triangle pattern. Yesterday, the rate re-tested the lower pattern line near 1,695.00. During Tuesday morning, the rate reversed north. Economic Calendar Analysis This week, monthly US inflation and retail sales data sets are bound to cause notable reactions, as they have done in the past. Namely, US CPI on Tuesday, US PPI on
Last week, the XAU/USD exchange rate revealed an ascending triangle pattern. On Friday, the rate tested the upper pattern line. During today's morning, the rate reversed south from the given line. Economic Calendar Analysis This week, monthly US inflation and retail sales data sets are bound to cause notable reactions, as they have done in the past. Namely, US CPI on Tuesday,
The resistance of the hourly simple moving averages held for eight hours until the SMAs failed. It resulted in a surge. Since late Thursday, the rate had been consolidating and trading sideways above the 1,715.00 mark. Economic Calendar Analysis The week will end with the employment data release from the United States, on Friday at 12:30 GMT. Next week, monthly US inflation and
On Wednesday, the yellow metal's price ended moving sideways, as it dropped to the support of the 1,685.00 level. On Thursday, the price bounced off the support of the 1,685.00 and began to test the resistance of the 55 and 100-hour simple moving averages near 1,697.00. Economic Calendar Analysis There are no notable events scheduled for Thursday that could affect the exchange rate. On
The situation on the yellow metal's price charts has not changed, as the rate continues to trade near the 1,700.00 mark, where it is being influenced by the hourly simple moving averages. Economic Calendar Analysis There are no notable events scheduled for Thursday that could affect the exchange rate. On Friday, the week will end with the employment data release from the United
After making attempts to pass the resistance of the 1,710.00 level, gold's price declined on Tuesday. In the meantime, it was spotted that the commodity price is heavily being impacted by the hourly simple moving averages. Economic Calendar Analysis There are a couple of minor data releases scheduled for the week. On Tuesday, the US ISM Non-Manufacturing PMI is set to be
On Thursday morning, the XAU/USD exchange rate reached the 1,720.00 level. It is likely that yellow metal could gain support from the 55-, 100- and 200-hour moving averages and trade upwards in the short run. Economic Calendar Analysis On Friday, the US ISM Manufacturing PMI is scheduled to be published at 14:00 GMT. The week's notable scheduled events are set to start on Tuesday
On Wednesday, the yellow metal fluctuated between the 1,702.00 and 1,712.00 levels, where it was influenced by a monthly pivot point and hourly simple moving averages. In general, the price was consolidating before a break out up or down. Both scenarios were possible and traders would look for signals, which one becomes reality. Economic Calendar Analysis On Wednesday, at 18:00 GMT, the Federal
By the middle of Tuesday's GMT trading hours, the yellow metal's price had reached back below the 1,700.00 level. However, after trading below the 1,700.00 mark, the rate began a recovery, which was expected to test resistance near 1,720.00 mark. Economic Calendar Analysis This week starts with the US Advance GDP release on Wednesday at 12:30 GMT. This is the first of
At the end of last week, the price for gold failed to reach the psychological level at 1,740.00. During Monday morning, the XAU/USD exchange rate consolidated in the 1,720.00 area. Economic Calendar Analysis This week starts with the US Advance GDP release on Wednesday at 12:30 GMT. This is the first of three types of US quarterly GDPs. The Advance release reveals the
As expected, the yellow metal's price reached the March high level of 1,740.00. The historical high level provided resistance, which resulted in a decline to the 1,721.50 level. This level provided support to the price. On Friday, the rate traded sideways between 1,721.50 and 1,735.00. Economic Calendar Analysis This Friday, a notable reaction of above then pips could be created by the US
During the late hours of Wednesday's trading, the yellow metal's price managed to pass the resistance of the 1,700.00 level and the pivot point at 1,704.29. This event resulted in a surge, which by the middle of Thursday's trading had almost reached the 1,730.00 level. Economic Calendar Analysis On Thursday, at 12:30 GMT, the US Unemployment Claims are scheduled to be released. Most
On Wednesday, the metal's price returned to trade near the 1,700.00 mark. Namely, the rate shortly reached above the 1,705.00 level. In the case of the pair properly breaking the resistance of the 1,700.00 level, the pair could reach for the previous high level of 1,740.00. Economic Calendar Analysis On Thursday, at 12:30 GMT, the US Unemployment Claims are scheduled to be released.
As forecast, the recovery of the yellow metal's price reached the 1,700.00 level. The rate bounced off this price level after making two attempts to reach above it. As the review was created, the metal ended trading sideways below the 1,700.00 level and plummeted to the support of the 1,675.00 mark. Economic Calendar Analysis On Thursday, at 12:30 GMT, the US Unemployment Claims
After falling to the 1,674.40 level on Friday, the yellow metal's price recovered on Monday. By the middle of Monday's trading, the rate had reached the resistance of the 200-hour SMA at 1,690.00 In the case of the 200-hour SMA failing to hold, the rate could aim for the 1,700.00 level. Economic Calendar Analysis On Thursday, at 12:30 GMT, the US Unemployment Claims
The bearish scenario of the metal's price has become reality, as the bullion has declined to the 200-hour simple moving average near 1,685.00. In regards to the future, the price is expected to consolidate, as it would get squeezed in between the 200-hour SMA and the resistance of the 55 and 100-hour SMAs. Economic Calendar Analysis On Thursday, at 12:30 GMT, the US
On Thursday, the yellow metal's price ended trading just above the 1,710.00 level, as the rate attempted a surge. However, by mid-day the bullion still remained below 1,740.00 mark. In the near term future, it was expected that the metal's price could surge to the 1,740.00 level and test its resistance. Economic Calendar Analysis On Thursday, all attention is expected to be