The GBP/USD has continued to trade in the previous trading sessions' range. Namely, it made another failed attempt to surge before retracing back down to the 1.2050 level. Meanwhile, it was spotted on Wednesday that the currency exchange rate faces psychological resistance provided by the 1.2100 level. Previously it was not spotted, as at that level the 55 and 100-hour SMAs
The hourly simple moving averages provided enough technical resistance on Wednesday, to cause a sharp drop down. The decline went as low as 1.1130 before a consolidating retracement back up started. The low point of 1.1130 was used to draw a descending channel pattern, which captures the decline that started on Tuesday. In regards to the near term future, the rate was
The yellow metal's price was testing the 1,535.00 level, as it was announced that Donald Trump will not set new tariffs on China. The event caused a drop of the metal to 1,480.00 level. Although, immediately after the drop, the metal recovered back to the 1,500.00 level, from where it was surging at the middle of Wednesday's London trading hours. Economic Calendar
Donald Trump cancelled upcoming trade tariffs, and the USD/JPY jumped from 105.20 to 107.00. Since the jump the rate was declining and by the middle of Wednesday's trading session the rate was about to reach technical support levels at 106.00. US Retail Sales in focus There are no data releases that might impact USD/JPY scheduled for Wednesday. On Thursday, the US Retail Sales are
The GBP/USD has managed to pass the resistance of the 55-hour SMA and traded sideways during the 24 hours up to 10:00 GMT, on Wednesday. At that time the rate was located at technical resistance levels near 1.2090. The future scenarios were based on what will happen at this level. US and UK Retail Sales On Thursday, UK Retail Sales will be published
The EUR/USD has traded with high volatility during the 24 hours up to the middle of Wednesday's trading session. The high volatility occurred due to the rate starting a break out above the 1.1200 level and another test of the 1.1230, which was sharply reversed by a fundamental announcement. Namely, the US President Donald Trump cancelled the plans to implement new
The breakout of gold occurred on Monday, The metal passed the resistance of the 1,510.00 level. By the middle of Tuesday's trading the commodity price had already reached the 1,535.00 level. Economic Calendar Analysis During this week there are a couple of government macroeconomic data releases, which might cause sudden moves in the value of the USD. If the value of the USD
The fall of the USD/JPY reached the 105.06 level, where a reversal started on Monday. The reversal was ended by the resistance of the 55-hour simple moving average on Tuesday morning. The simple moving average caused a decline, which by the middle of Tuesday's trading session was back down at the 105.10 level. In general, the rate was still expected
The surge of the GBP/USD was stopped by the 55-hour simple moving average, which started to push the rate down. By the middle of London's trading session the rate had been pushed by the SMA to the 1.2070 level and was expected to continue to push the pair down. US CPI incoming On Tuesday, at 12:30 GMT the US CPI is set to
On Tuesday morning, the EUR/USD traded below the 1.1200 level. Although, the rate had reached to the 1.1230 level during Monday's trading. In regards to the near term future, a squeeze is expected to occur, as the 200-hour simple moving average was approaching from below and is bound to provide support. Economic calendar During this week there are a couple of government macroeconomic
Gold's price still remains below the 1,510.00 level. On Monday, another attempt was about to be made to pass the resistance of this high level. Meanwhile, note that the commodity price made a retracement back down to the 1,490.00 level, during which the 100-hour simple moving average approached from below. Economic Calendar Analysis During this week there are a couple of government macroeconomic
The USD/JPY began the week by declining. The fall as caused by a run to safety, which created a surge of the value of the Japanese Yen. By the middle of the day, the rate was expected to reach the 105.00 level. US CPI and Retail Sales in focus During this week there are a couple of government macroeconomic data releases, which might
On Monday, the GBP/USD began a surge that was caused by meeting the historical low level at 1.2020. By the middle of London's trading session the rate was aiming at a resistance cluster at 1.2090. US and UK CPI and Retail Sales During this week there are five scheduled government macroeconomic data releases, which might cause sudden moves in the GBP/USD. On Tuesday morning,
On Monday, the EUR/USD made a sharp drop below the 1.1200 level. The drop was stopped by the 200-hour simple moving average at the 1.1160 level. In general, the rate was expected to reach back up to the 1.1200 level, where technical resistance levels would be tested. Economic calendar During this week there are a couple of government macroeconomic data releases, which might
Gold's price has remained below the 1,510.00 level, as the round level is providing psychological resistance. Meanwhile, note that the support of the 55-hour simple moving average has approached. It was providing notable support on Friday. Namely, the commodity price was no longer retracing down below the 1,500.00 level. Economic Calendar Analysis This week there will be no more data releases occurring, which
By the middle of Friday's London trading session, the USD/JPY remained below the resistance of the 55 and 100-hour simple moving averages, which were located above the 106.00 mark. Meanwhile, note that it could be observed that the rate is being supported by the psychological support of the 105.80 level. No data for USD/JPY this week During this week there will be no
The GBP/USD has dropped down to the historical low level of 1.2090. The move broke the ascending channel pattern of the hourly candle chart. The decline occurred, as soon as the pair failed to properly break the resistance of the 200-hour simple moving average. The rate only pierced this level. Meanwhile, note that the move was still consistent with the pattern of
On Thursday, the EUR/USD failed to pass the resistance of the weekly R2. It was the third failed attempt. The failed attempt was followed by a decline. On Friday, after the decline, the rate was located below the combined resistance of the 55 and 100-hour simple moving averages and the 38.20% Fibonacci retracement level at 1.1200. Economic calendar During this week there
As expected, gold reached the 1,500.00 level on Wednesday. Moreover, during the second half of the day, the 1,510.00 mark was already touched. On Thursday, the commodity price was consolidating by trading sideways. Most likely the surge would resume, as soon as the hourly simple moving averages approach the price from below. Economic Calendar Analysis This week there will be no more data
The USD/JPY has retested the lower trend line of the pattern of the hourly candle chart. By dropping down to it and surging back up during Wednesday's trading. On Thursday, the rate traded just below the 55 and 100-hour simple moving averages. In general, the rate was about to test the resistance of these levels. Latest Fundamental Event Report Institute for Supply Management
The ascending pattern on the hourly candle GBP/USD chart held its ground and has pushed the rate higher. Moreover, during Thursday's London trading morning hours the rate was trading amidst the hourly simple moving averages, which were the last resistance to the rate before the pivot point at 1.2212. Latest Fundamental Event Report Institute for Supply Management released the US Non-Manufacturing PMI data,
On Thursday, the EUR/USD traded above a 38.20% Fibonacci retracement level, which was keeping the rate up at 1.1200. Moreover, during the morning hours the rate was also being supported by the 55-hour simple moving average. In general, a test of the weekly R2 pivot point at 1.1234 was expected. If this level gets passed, the 1.1280 level could be reached. Latest
On Wednesday, the surge of the yellow metal continued, as by the middle of the day, the 1,490.00 level was reached. Moreover, the commodity price had no technical resistance, which could stop it from the surge. Latest Fundamental Event Report Institute for Supply Management released the US Non-Manufacturing PMI data, which came out worse-than-expected of 53.7 compared with the forecast of 55.5. Anthony
On Wednesday morning, the USD/JPY bounced off the psychological support of the 106.00 level and reached above the 55-hour simple moving average, which began to support the pair. In general, the rate is expected to trade sideways until the 100-hour simple moving average approaches from above. Latest Fundamental Event Report Institute for Supply Management released the US Non-Manufacturing PMI data, which came out