As forecast, the EUR/USD has broken the resistance of the 200-hour SMA and surged higher. On Wednesday, the rate was expected to continue its surge higher, as it was testing resistance at 1.1239. If the rate breaks the weekly R1 at 1.1239, it should reach the 1.1300 level because the pair has no technical resistance as high as 1.1320. Latest Fundamental Event The
Gold found support in the 1,278.00 level. The event resulted in a surge of five dollars by the middle of Tuesday's trading session. Meanwhile, note that the hourly candle chart has been updated. Economic Calendar Analysis During this week there are various macroeconomic data releases that will impact currency exchange rates. Moreover, there will be a Federal Funds Rate announcement. On Tuesday, the Canadian
The USD/JPY broke to the downside and reached down to the 111.30 level during Tuesday's trading session. From a theoretical technical analysis perspective the rate should reach down to the weekly S1 at the 111.18 level. Latest Fundamental Event Census Bureau released the US Core Durable Goods Orders data that came out better-than-expected of 0.4% compared with forecast 0.2%. The US Durable Goods
On Tuesday morning the GBP/USD broke the resistance of the 200-hour simple moving average and began a surge, which was expected to reach 1.3000. At the 1.3000 level the rate will reach the resistance of a large scale descending channel and the weekly R1. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release. The
As the 100-hour SMA moved below the support cluster at 1.1175, it weakened the resistance. This allowed the EUR/USD to surge up to the 1.1200 level on Tuesday. The pair was about to face the resistance of the 200-hour SMA at 1.1200. If that level would get passed, the rate would have no technical resistance as high as the 1.1240 level. Latest
By the middle of Monday's London trading session Gold had dropped down to 1,281.50. The Metal plummeted down to the support of the 55-hour SMA and the 1,280.00 level. However, the previous forecast of a surge on Friday was correct, as the rate surged throuhgout Friday and reached the 1,288.00 level before the decline started on Monday morning. Economic Calendar Analysis During this
The USD/JPY on Monday traded squeezed in between the 55-hour SMA as support at 111.67 and the 100-hour SMA with the weekly PP at 111.80. In general, the rate could break out to both sides. Wait for the break out, which will reveal the short term direction of the currency exchange rate. Latest Fundamental Event Census Bureau released the US Core Durable Goods
The GBP/USD was surging on Monday, as the rate pierced through the resistance cluster near the 1.2940 level. It is expected that the surge will continue and eventually the pair should reach the 1.2960 level, where it would meet with the 200-hour SMA. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release. The GBP/USD
On Monday, the EUR/USD was facing the resistance of a technical level cluster near 1.1175. Namely, the 100-hour SMA, weekly PP and a 61.80% Fibonacci retracement level. In general, the rate was expected to fail at breaking above this level, as it had no technical support that could push it higher. Latest Fundamental Event The European Common Currency depreciated against the US Dollar,
On Friday morning, the price for gold was trading at the psychological level at 1,282.00. Given, that the XAU/USD exchange rate is supported by the ascending trend line, it is likely, that the price could maintain its growth. Economic Calendar Analysis On Friday, at 12:30 GMT the US Advance GDP will be published. This is the top US data set, which has
On Friday morning, the USD/JPY currency pair was testing the weekly S1 located at the 111.76 mark. Given that the pair is squeezed by the weekly S1 and the weekly S2 at 111.57, it is likely, that the pair could trade sideways in the short term. Latest Fundamental Event The European Common Currency traded sideways against the US Dollar, following the US Durable
On Friday morning, the GBP/USD exchange rate was testing the 55-hour SMA located at the 1.2910 mark. If the given resistance does not hold, it is likely, that the rate rises to the 100-hour SMA located circa 1.2940. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release on Thursday at 8:30 GMT. The GBP/USD
On Friday morning, the EUR/USD currency pair traded sideways near the psychological level at 1.1140. The pair could trade sideways around the given level, squeezed by the 55-hour simple moving average and the 2018/2019 minimum, located at 1.1159 and 1.1124 respectively. Latest Fundamental Event The European Common Currency traded sideways against the US Dollar, following the US Durable Goods Orders data release on
On Thursday, the price for gold was trading at the psychological level at 1,278.00. Given, that the XAU/USD exchange rate is pressured by the 200-hour SMA, it is unlikely, that bulls could prevail in the market. Economic Calendar Analysis During this week there will be a couple of macroeconomic events to watch, avoid or trade. On Thursday, the US Durable Goods Orders data
During Thursday night, high volatility occurred in the market due to the Monetary Policy Statement by the Bank of Japan. The Bank decided to keep the interest rate unchanged. The USD/JPY currency pair is pressured by the 55-, 100- and 200-hour SMAs, thus, it is likely, that some downside potential could occur in the nearest future. Latest Fundamental Event Census Bureau released the
On Thursday morning, the GBP/USD exchange rate was testing the lower boundary of the falling wedge pattern located circa 1.2880. If the given pattern does not hold, it is expected that the rate decline to the monthly S1 at 1.2872. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release on Thursday at 8:30
On Thursday morning, the EUR/USD currency pair traded near the 2018/2019 minimum located at the 1.1141. If the 55- and 100-hour simple moving averages continue to push the pair down, it could reach the lower boundary of the medium-term channel at 1.1120. Latest Fundamental Event The European Common Currency traded sideways against the US Dollar, following the US Retail Sales data release on
On Wednesday, the price for gold was pressured by the 55- and 100-hour SMAs, as well the monthly S1 and the Fibo 38.20% at 1,274.0. If the given resistance does not hold, it is expected, that gold could reach the psychological level at 1,276.00. Economic Calendar Analysis During this week, there will be a couple of macroeconomic events to watch, avoid or
The USD/JPY exchange rate tested the support level formed by the weekly S1 at the 111.78 mark. It is expected, that the rate trades sideways between the given support and the resistance level formed by a combination of the 55-, 100- and 200-hour SMAs located circa 111.90. Latest Fundamental Event Census Bureau released the US Core Retail Sales data that came out better-than-expected
On Wednesday morning, the GBP/USD rate was testing the lower boundary of the falling wedge pattern located circa 1.2930. It is expected, that the rate could reverse north from the given boundary and target the 55- and 100-hour moving averages located circa 1.2980. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release on
On Wednesday, the EUR/USD currency pair traded below the resistance of the 55- and 100-hour simple moving averages, which during the morning hours were located at 1.1240. If the simple moving averages continues to push the pair down, the rate should eventually reach the 2018/2019 minimum at 1.1195. Latest Fundamental Event The European Common Currency traded sideways against the US Dollar, following the
The Friday's forecast was correct, the rate surged up to the 100-hour simple moving average, which pushed the commodity price down. On Tuesday, the gold price had reached below all of the support levels near the 1,273.00 level. This fact indicated that the price could continue its decline. Economic Calendar Analysis During this week there will be a couple of macroeconomic events
Just before midnight the USD/JPY dropped sharply 25 base points. However, by the middle of the day's trading session the rate had recovered back up to the 111.90 level. Meanwhile, take into account that a decline was expected on Friday. Compared to Friday's levels the rate had declined slightly. Latest Fundamental Event Census Bureau released the US Core Retail Sales data that came
On Tuesday morning the GBP/USD was testing the resistance of the 1.3000 level. It was expected that the rate will fail to surge, as additional technical resistance was about to be provided by the 100-hour simple moving average. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release on Thursday at 8:30 GMT. The