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The price for gold plummeted. From a Fundamental Analysis perspective the drop occurred due to various reasons, which can be read in this article. Meanwhile, from a technical analysis perspective the decline has its own reasons and could have been forecast. Namely, the initial drop occurred due to the price failing to pass the resistance zone above the 1,800.00 mark. Afterwards,
On Friday, the USD/JPY currency exchange rate continues the recovery that was started on September 15. During the surge, the pair only shortly paused at resistance levels like the hourly simple moving averages. By the middle of Friday's London trading hours, the rate had reached the 110.00 level and the weekly simple pivot point at 110.07. A passing of the resistance
The GBP/USD currency exchange rate passed the support of the 1.3800 level on Thursday. However, at the 1.3765 level the rate stopped its decline without reaching the support of the weekly S1 simple pivot point. Moreover, the 1.3765 has not been acting as support during September. On Friday, the currency exchange rate had recovered and failed at an attempt to
The decline of the EUR/USD currency exchange rate eventually reached the 1.1750 level, where it found support in the round exchange rate level and the weekly S2 simple pivot point. By zooming in the chart, it can be clearly observed that the rate bounced off exactly from the pivot point. On Friday, the currency pair recovered and passed the resistance
The yellow metal''s price managed to pierce the 1,805.00 level and the resistance zone below it twice. However, the resistance held and a decline started at mid-day on Wednesday. By the middle of Thursday's European trading hours, the price had reached the support of the 1,781.00/1,784.00 zone, which has kept the price up since September 8. In the case that the
The decline of the USD/JPY currency exchange rate stopped at the August low level zone just above the 109.10 level. On Thursday the rate recovered to find resistance in the late August low level zone that is located at 109.42/109.50. If the recovery of the currency pair manages to pass the 109.42/109.50 zone, it could reach for the cluster of technical
After finding support in the 1.3800 mark on Wednesday, the GBP/USD currency exchange rate surged to the 1.3850 level. This level provided enough resistance for a decline to begin. By the middle of Thursday's European trading hours, the rate was aiming at the support of the 1.3800 mark. Meanwhile, the pair mostly ignored the weekly simple pivot point and the
At mid-day on Thursday, the EUR/USD passed the previous September low level at the 1.1770 mark. In addition, note that after failing to pass the resistance of the 1.1820 mark, the rate lost more than 50 base points in just 8 hours. Some attributed the decline to an upcoming speech of ECB President Christine Lagarde, which was scheduled for
As the price for gold was testing the support zone below the 1,785.00 level, the US Consumer Price Index was released. The worse than forecast US data caused a drop of the value of the USD. Subsequently, the price of gold jumped. During the three hour surge, the bullion broke above the resistance of the 200-hour SMA and the 1,800.00/1,805.00
The release of the US Consumer Price Index on Tuesday at 12:30 GMT caused a drop of the US Dollar. On the USD/JPY currency exchange rate charts the initial drop was followed up by a short recovery before the decline resumed. By the middle of Wednesday's European trading hours, the rate had reached the 109.30 level and lost 80 base
The GBP/USD currency exchange rate found support in the 1.3800 level just after GMT midnight to Wednesday. At mid-day the pair was testing and piercing the resistance of the 55, 100 and 200-hour simple moving averages in the 1.3825/1.3840 zone. If the pair manages to pass the resistance of the SMAs, it could once again test the weekly R1 simple pivot
The release of the US Consumer Price Index on Tuesday at 12:30 GMT, caused a drop of the value of the USD. The EUR/USD rate surged and broke the upper trend line of the channel down pattern. By the middle of Wednesday's European trading hours, the pair had started to fluctuate near the 1.1830 mark. If in the near term
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Since September 8, the price for gold has continued to fluctuate sideways between a support zone below the 1,785.00 level and resistance above the 1,800.00 mark. On Tuesday, the price was reached by the resistance of the 100-hour simple moving average, which together with the 55-hour SMA started to push the metal down. If the hourly simple moving averages manage to
Since Monday the USD/JPY pair has been fluctuating near the 110.00 mark. Despite the rate trading almost sideways it appears that the volatility of the currency exchange rate has been decreasing. Due to that reason a larger move up or down could be expected. In the case of a potential surge, the rate would first test the resistance zone near the