By the middle of Wednesday's GMT trading hours, the yellow metal's price pierced the 1,670.00 level. During the surge up to this level, the rate broke the resistance of three technical levels and no longer had any resistance as high as the 1,700.00 level. Economic Calendar Analysis There will be only one event that could impact the XAU/USD rate. On Wednesday, March
Various technical support levels could not cause a surge of the metal on Monday. Instead the metal decline to test the 1,650.00 level. Meanwhile, note that at the 1,650.00 level the commodity price met with the support of an ascending wedge pattern. Economic Calendar Analysis There will be only one event that could impact the XAU/USD rate. On Wednesday, March 11, the
After touching a new high level on Monday morning, the yellow metal's price began a decline. The decline found support in the 1,660.00 level. In regards to the near term future, the metal was expected to once again test the 1,700.00 level. Economic Calendar Analysis There will be only one event that could impact the XAU/USD rate. On Wednesday, March 11, the
During Friday morning, the XAU/USD exchange rate was testing the psychological level at 1,690.00. It is likely that bulls could prevail in the market, and gold could continue to appreciate against the US Dollar. Fed Rate Cut The Federal Open Market Committee cut the Federal Funds Rate to a target range of 1.00% to 1.25% at an unscheduled emergency meeting. The
Gold has been consolidating against the US Dollar since the second half of Tuesday. The XAU/USD exchange rate could gain support from the 55- and 200-hour moving averages and trade upwards in the short term. Fed Rate Cut The Federal Open Market Committee cut the Federal Funds Rate to a target range of 1.00% to 1.25% at an unscheduled emergency meeting.
The US Federal Reserve Rate Announcement on Tuesday caused a jump of the yellow metal's price to the 1,650.00 mark. On Wednesday, the metal had bounced off the 1,650.00 level and had found support in the 200-hour simple moving average near 1,635.00. Fed Rate Cut The Federal Open Market Committee cut the Federal Funds Rate to a target range of 1.00%
Since Monday, the yellow metal's price has continued to fluctuate in the range between the 1,590.00 and 1,610.00 levels. However, there was an update on the metal's hourly candle chart. Namely, the 55-hour SMA had reached the price at the middle of Tuesday's GMT trading hours. Economic Calendar Analysis Some might consider watching the ADP Non-Farm Employment Change on Wednesday at 13:15
On Monday, the yellow metal retraced back up to trade near the 1,600.00 level. There the price appeared to consolidate by trading sideways. Economic Calendar Analysis Already on Monday, a data release could cause a notable move. The US ISM Manufacturing PMI is scheduled to be published at 15:00 GMT. Some might consider watching the ADP Non-Farm Employment Change on Wednesday
By the middle of Friday's London trading, the yellow metal had retreated down to the 1,630.00 level. At that mark, the 200-hour simple moving average was met. This event signaled that the metal is no longer overbought. Meanwhile, it could be observed that the metal had remained near the same level throughout this week, despite making attempts to surge. Economic Calendar
On Thursday, the yellow metal's price touched the 1,660.00 level before retracing back to the 1,640.00 mark. In the meantime, it could be observed that the rate was booking higher highs and lower lows. Economic Calendar Analysis No more relevant data for the pair is scheduled to be released during this week. However, next week's data is available. Click on the link below
After touching the 1,625.00 level on Tuesday, on Wednesday, the yellow metal's price had returned to trade between the 55 and 100-hour simple moving averages. As the rate had already broken the 100-hour SMA's support on Tuesday, it was not expected to hold on Wednesday. Economic Calendar Analysis During the week there are no notable events that might impact gold. However, some
On Tuesday, the yellow metal had retreated down to the hourly simple moving averages. By retracing down, the bullion removed some of the overbought pressure that appeared during this week. By the middle of the day's London trading hours, the commodity price had found support in the 100-hour SMA near 1,635.00 and attempted to pass the 55-hour SMA at 1,655.00. Economic
The yellow metal's surge has reached the 1,690.00 level. Moreover, the price has passed the resistance of a monthly pivot point at 1,667.43. In general, it was expected that the bullion's price would soon test the resistance of the 1,700.00 level. Economic Calendar Analysis During the week there are no notable events that might impact gold. However, some economic calendars have US
The surge of the yellow metal has continued, as on Friday the 1,635.00 level was reached. During the latest surge, the commodity price passed the resistance of a monthly pivot point at the 1,628.78 level. Due to that reason the closest by technical resistance was the monthly R2 simple pivot point at the 1,667.43 level. Economic Calendar Analysis Next week there are
Since the middle of Wednesday's GMT trading hours, the yellow metal's price has been trading sideways around the 1,610.00 level. The commodity price was expected to continue to trade sideways until it would be approached by the support of the 55-hour simple moving average. Economic Calendar Analysis No more data releases that could impact gold's price are scheduled for this week.
The 1,600.00 level has been passed by the yellow metal's price. Moreover, by the middle of Wednesday's London trading hours, the pair had reached the 1,610.00 level. In the meantime, the pair had left below it the hourly simple moving averages, which indicates that the rate is overbought. In addition, the pair broke the upper trend line of a channel
On Monday, the yellow metal ended trading sideways, as it was approached by the 55-hour simple moving average. It resulted in the pair passing the resistance of the 1,585.00 level. By the middle of Tuesday's GMT trading hours, the pair had made an attempt to reach the 1,590.00 level. Economic Calendar Analysis On Wednesday, the Federal Reserve will publish its FOMC
On Monday, the yellow metal's price was consolidating in the aftermath of attempting to pass the resistance of the 1,584.00 level. In general, the pair was expected to resume its surge as soon as the hourly simple moving averages catch up with it. Economic Calendar Analysis There are not many events that could influence the XAU/USD rate. On Wednesday, the Federal Reserve will
The XAU/USD exchange rate tried to surpass the 1,578.00 level. Given that the rate is supported by the monthly PP, it is likely that the price for gold could add to gains. Economic Calendar Analysis Next week there are not much events that could influence the XAU/USD rate. On Wednesday, the Federal Reserve will publish its FOMC Meeting Minutes at 19:00 GMT. Next
The XAU/USD exchange rate breached the medium-term descending channel north. Given that the rate is supported by the monthly PP, it is likely that the price for gold could add to gains. Economic Calendar Analysis This week, notable data releases are set to start on Tuesday. Today, the US CPI data sets are set to be published at 13:30 GMT. Last but
The XAU/USD exchange rate traded along the upper boundary of the medium-term descending channel . Given that the rate is pressured by the 55-, 100- and 200-hour SMAs, it is likely that the price for gold could decline. Economic Calendar Analysis This week, notable data releases are set to start on Tuesday. On Wednesday, the weekly US Crude Oil Inventories will be
The XAU/USD exchange rate re-tested the upper boundary of the medium-term descending channel . Given that the rate is squeezed by the 55-, 100- and 200-hour SMAs, it is likely that the price for gold could consolidate. Economic Calendar Analysis This week, notable data releases are set to start on Tuesday. On Wednesday, at 01:00 GMT the Reserve Bank of New Zealand
The XAU/USD exchange rate has been testing the resistance level formed by the monthly PP at 1,573.09 since Friday. Given that the rate is supported by the 55-, 100- and 200-hour moving averages, it is likely that some upside potential could prevail. Economic Calendar Analysis This week, notable data releases are set to start on Tuesday. On Tuesday, at 09:30 GMT, the
At midnight from Thursday to Friday, the yellow metal's price passed the resistance of the 100-hour simple moving average. By the middle of Friday's European trading hours, the rate had bounced off the resistance of the 1,570.00 level. In the near term future, the pair was expected to trade between the 1,565.00 and 1,570.00 levels. Economic Calendar Analysis Next week,