The 1.3300 mark held, and a decline occurred throughout the week. In general, one event after another has strengthened the US Dollar, which has resulted in a decline of the GBP/USD as low as the 1.3050 level. Meanwhile, it was observed that the pair faced the resistance of the 50-hour simple moving average. An extension of the ongoing decline is expected
On Friday, the EUR/USD plummeted due to the US Dollar strengthening that was caused by the much better than expected US monthly employment data. On the EUR/USD charts, it coincided with the pair bouncing off the resistance zone at 1.1040/1.1065 and the 50-hour simple moving average. Afterwards, the pair found support in the 1.0950 level. In the near term future,
The decline of the price of Gold found support in the combination of the 2,630.00 level and the 200-hour simple moving average. These levels were enough to cause a surge of the metal to the 2,670.00 level, where it encountered resistance. On Wednesday, the pair had declined to look for support in the moving averages. If the 200-hour SMA once
The support of the 141.70 level was enough to cause a broader recovery. By mid-Wednesday, despite various resistance levels, the rate managed to break above 145.00 and was heading to the 146.50 level. A move above 146.50 is set to result in the rate facing the 147.00 mark and afterwards the 148.00 level. Both of these levels have acted as
All the previously described support levels eventually failed, despite holding for a couple of hours. Eventually, by mid-Wednesday it was observed that the pair had found support in the 1.3250 level. The level had caused a recovery that was testing the resistance of the 1.3300 mark. If the pair breaks above 1.3300, it is set to face the combined resistance of
The EUR/USD has failed to pass the resistance zone above 1.1200. The rate has declined and passed below one support range after another. On Wednesday, it looked like the currency pair had found support in the 1.1050 range. Meanwhile, resistance was provided by the 1.1075/1.1085 zone. A recovery above 1.1085 is set to face the weekly S1 simple pivot
On Friday, the price of gold revealed a resistance zone at 2,680.00/2,685.00. The reveal coincided with the release of US fundamental data that caused a decline down to the support of the 2,650.00/2,655.00 range. The rate fluctuated between these two levels until US PCE data provided future direction. Further direction is downwards. Moreover, a channel down pattern has been
The announced stimulus by the Chinese government caused a surge of assets and currencies across all of Asia. The Japanese yen also surged on Friday. The event resulted in the pair dropping from 146.50 level down to 143.00. Moreover, the decline continued on Monday, as the pair reached the support range at 141.70/142.00. A potential recovery of the US Dollar
The decline of the GBP/USD eventually broke the channel up pattern, but found support in the 1.3300/1.3315 range. Since then, the pair has been testing the resistance of the high level range at 1.3425/1.3435. In the meantime, support has been provided by the 50 and 100-hour simple moving averages. A breaking above the 1.3435 level might result in the pair encountering
Since Wednesday, the EUR/USD is finding support near the 1.1120 level. Meanwhile, resistance is encountered at 1.1200/1.1215. In addition, the pair is impacted by the combination of the 50, 100 and 200-hour simple moving averages near 1.1150. A move above the 1.1200 mark could face resistance in the 1.1223 level, where the weekly R1 simple pivot point is located at.
As the US Dollar continues to weaken, the price for of gold continue to grow. By mid-Wednesday, the price had touched the 2,670.00 level and retraced to find support at 2,650.00/2,655.00. Eventually, the surge should break through all round levels and face the 2,700.00 mark. The major round price level is set to hold for at least a week. Meanwhile, a
During the first half of this week, the rate found support in the 143.00 level, before returning to test the resistance of the 144.50 level. A passing above 144.50 is expected to immediately be stopped by the 145.00 mark. Higher above, note the weekly R1 simple pivot point at 145.68. In the case of a decline, the rate might find
The surge of the Pound against the US Dollar has reached the 1.3430 level where it met the upper trend line of the channel up pattern. Since then, the rate has found support in the 50-hour simple moving average, and the surge could continue. A continuation of the prior surge is set to face the combination of the pattern's upper trend
The recovery of the EUR/USD rate has managed to break the resistance of the 1.1200 mark. However, the weekly R1 simple pivot point has provided enough resistance for a retracement back down to occur. A broader decline of the Euro against the US Dollar is set to result in the rate looking for support in the 1.1180 and 1.1160 level,
The price for gold has managed to break the 2,600.00 level's resistance. By late Monday's trading, the commodity price had reached the 2,635.00 level. In the meantime, it was spotted that the 2,620.00 level was providing support. The ongoing surge is set to face more resistance from the 2,650.00 level, as round levels have always impacted the metal during its
The support of the 141.70/142.00 range was enough to eventually cause a surge that broke the 143.45/143.80 zone and reached the 144.50 level. The 144.50 has held and caused another decline of the pair, as the USD/JPY looks for support. An extension of the short term decline could look for support in the 100-hour simple moving average and the 143.00
Despite the decline that was caused by the UK PMI release, the rate has found support in the 1.3250 level and the 100-hour simple moving average. The event was followed by a recovery of the rate and eventually the booking of a new high level near 1.3350. In the meantime, a channel up pattern has been spotted that has been
Despite the publication of the European PMIs and sharp decline, the EUR/USD currency pair remains near the 1.1150 mark. In general, the rate still respects the resistance of 1.1200 and the support range near 1.1080. A recovery of the Euro against the US Dollar might be slowed down by the weekly simple pivot point at 1.1140 and the 100-hour simple
During the Federal Reserve rate cut and the follow-up press conference, the price of gold confirmed the 2,600.00 mark as resistance and then support at 2,550.00. After the fundamental volatility, the price recovered and by late Thursday was testing the resistance of the 2,590.00/2,600.00 range. In the case of a surge of the price above 2,600.00, there will be no
After the US Fed rate cut, the pair surged above the 142.00 mark, but found resistance in the 143.45/143.80 zone. Meanwhile, support is being provided by the combination of the 50 and 200-hour simple moving averages and the 141.70/142.00 range. Note that the upcoming Bank of Japan monetary policy reveal is set to give direction to the rate. It is
The United States Federal Reserve has cut interest rates more than the markets expected. The Fed has cut 0.50% instead of 0.25%. The larger than expected USD rate cut initially caused a USD decline, as the demand for USD to pay off loans is set to decrease. Bank of England in its Monetary Policy Committee has decided to keep interest rates
The United States Federal Reserve has cut interest rates more than the markets expected. The Fed has cut 0.50% instead of 0.25%. The larger than expected USD rate cut initially caused a USD decline, as the demand for USD to pay off loans is set to decrease. Afterwards, the Dollar recovered as soon as the press conference of the Chairman
The price for gold almost reaches the 2,600.00 mark on Friday. However, the price has clearly encountered resistance at 2,590.00. Meanwhile, support is found at 2,575.10/2,577.50. In general, the commodity is consolidating before making the next move. A resumption of the surge is set to face the 2,590.00 level, before the price reaches the 2,600.00 mark, which is bound to
The USD/JPY has declined more than expected, as the rate has broken the broad channel down pattern. However, on Monday, the pair appeared to have found support near the 139.50 level. The follow-up recovery has encountered resistance in the prior 2023 low level at 140.80 and the 50-hour simple moving average. A move above the 140.80 level, the 50-hour SMA