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The Chairman of the US Federal Reserve Jerome Powell made a speech on Thursday, which caused a surge of the US Dollar. This resulted in the price of gold bouncing off the combined resistance of the 1,720.00 mark and the 55-hour simple moving average. The price almost immediately reached the 1,690.00 level, which provided support. By the middle of Friday's
The USD/JPY extended its surge and did not retrace back to the 55-hour SMA. Instead, the currency exchange rate surged and by the middle of Friday's trading had reached the 108.50 mark. It occurred due to the speech of the head of the Federal Reserve Jerome Powell, which caused a major surge of the US Dollar against all other
The GBP/USD started to test the resistance of the 200-hour SMA, as it finally pierced the resistance of the 1.4000 mark. However, at that time the head of the US Federal Reserve Jerome Powell started a speech. In his speech he revealed that the US monetary stimulus would remain unchanged. It resulted in a surge of the US Dollar against
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At 17:00 GMT on Thursday, the head of the US Federal Reserve Jerome Powell started a speech. During the speech he revealed that the current US monetary stimulus would remain intact. However, as the markets appeared to expect additional stimulus, the value of the US Dollar surged. It resulted in two large red hourly candles, which passed all support
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Instead of testing the support of the 1,700.00 level the price for gold began to trade sideways even before it was reached. Since the middle of Wednesday's GMT trading hours, the price has been fluctuating between 1,710.00 and 1,720.00. On Thursday, the bullion was being approached by the 55 and 100-hour simple moving average. In the near term future, the price
The USD/JPY currency exchange rate has gained new high level, as the 55-hour simple moving average provided support and pushed the rate up. By the middle of Thursday's trading, the pair had almost reached the 107.40 level. Take into account that the weekly R1 simple pivot point at 107.25 failed to provide any resistance. In the near term future, the pair
The GBP/USD has once again bounced off the resistance of the 1.4000 mark. The rate appears to be trading flat this week between the 1.3850 and 1.4000 level. In the meantime, the 100-hour simple moving average approached the rate and failed to provide any impact on it. In the near term future, the rate is expected to reach for the support
The resistance of the 1.2100 level held, as the currency exchange rate bounce off it and began a decline. By the middle of Thursday's trading, the rate's decline was heading down to the 1.2000 level. The rate was expected to reach this level, as the support zone near 1.2020 and the weekly S1 simple pivot point at 1.2011 did
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The yellow metal's recovery found resistance in the 1,740.00 level. Meanwhile, the price almost ignored the 55-hour simple moving average and the 38.20% Fibonacci retracement level. Namely, round price levels managed to provide more impact than technical indicators. In the meantime, the recent low levels were used to draw a channel down pattern, which has guided the metal since early February.
Instead of reaching new high levels or trading sideways, the USD/JPY retraced back down to the support of the 55-hour simple moving average. On Wednesday, the SMA had pushed the rate back to the 106.90 level, which provided resistance on Tuesday. If the rate manages to pass the 106.90 mark, it could immediately find resistance in 107.00. In the case
The support zone that surrounds the 1.3850 mark held. Namely, after testing the zone for nine hours, the GBP/USD began a recovery. By the middle of Wednesday's European trading hours, the rate had reached the 1.3990 level. In addition, the resistance of the 100-hour simple moving average was passed. In the near term future, the rate was likely going to reach
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