The yellow metal's price reached the resistance of the 55-hour SMA on Thursday morning. The SMA was broken, and immediately the 100-hour SMA stopped the surge that followed. Afterwards, for seven consecutive hours, the 100-hour SMA kept the price from moving higher. Due to that reason, it was expected that the rate would get squeezed in between the resistance
Since the middle of Tuesday's trading session, the yellow metal's price has been finding support in the 1,550.00 level. The price was expected to be soon approached by the 55-hour simple moving average. The SMA could provide the needed resistance to pass the support of the 1,550.00 level. Economic Calendar Analysis On Friday, at 13:30 GMT both Canada and US
On Tuesday, as risk on sentiment returned to the markets, gold's price passed the support of an ascending channel pattern. In addition, the support of the hourly simple moving averages had been passed. Both of these factors signaled that a decline of the commodity price could be expected. Economic Calendar Analysis Note that on Wednesday, at 13:15 GMT the ADP
On Friday, the yellow metal reached higher than expected. However, by the middle of Monday's trading, the rate had retreated back down to the previous price levels. Namely, the metal traded between the 1,575.00 and 1,580.00 levels. These levels were being strengthened by the 55 and 100-hour simple moving averages. Economic Calendar Analysis The week, as the first of
On Thursday, the yellow metal faced the resistance of the 1,585.00 level, which caused a decline down to the 1,571.00 level, where support was found. At mid-day on Friday, gold traded near 1,580.00, had the support of the 55 and 100-hour simple moving averages, and in theory should once again test the 1,585.00 resistance. Economic Calendar Analysis Next week,
On Thursday, the surge of the yellow metal's price continued, as the pair managed to pass the resistance of hourly SMAs. By the middle of the day's GMT hour trading, the price had already touched the 1,583.00 level. Economic Calendar Analysis There are no more events scheduled for this week that might impact gold through the adjustments of USD valuation. XAU/USD
The yellow metal's price found support in the 200-hour simple moving average near 1.565.00. This event resulted in a surge, which on Wednesday reached for the 1,575.50 level. At that level, the commodity price would test the resistance of the 55-hour simple moving average, which by mid-day was located at 1,575.50. Economic Calendar Analysis On Wednesday, the US Federal Funds
After two attempts to pass the 1,585.00 level, the yellow metal's price began a decline. Namely, on Tuesday the price tumbled below the 55-hour simple moving average near 1,575.00. In the near term future, the price was expected to look for support. Economic Calendar Analysis This week, on Tuesday, minor spike in volatility could occur due to the US Durable
On Monday morning, the price for gold jumped to the 1,585.00 level. It is likely that yellow metal could consolidate in the 1,580.00 area against the US Dollar within the following trading session. Economic Calendar Analysis This week, on Tuesday, minor spike in volatility could occur due to the US Durable Goods Orders Release at 13:30 GMT. On Wednesday,
The recently discovered wedge pattern enforced its borders on Thursday. The metal's price bounced off its lower trend line and reached the January 21 high level. By the middle of Friday's London trading hours, the commodity price had bounced off the high level and reached for the support of the 55 and 100-hour simple moving averages near 1,559.00. Economic Calendar Analysis There are
On Thursday, gold continues to trade around the hourly simple moving averages. In the meantime, Dukascopy Analytics spotted a rising wedge pattern that captures the rates movements after the Iran-US fundamental surge. If the price continues to follow the pattern, it should eventually reach the resistance of the 1,570.00 level. Economic Calendar Analysis The week's scheduled event historical data tables have been published.
Since the middle of Tuesday's GMT trading hours, the yellow metal has fluctuated in a ten dollar range between 1,550.00 and 1,560.00. Both of these levels were providing the psychological impact on the price that round levels have on gold. In addition, the resistance of the 55-hour simple moving average was located just below the 1,560.00 level. Economic Calendar Analysis The week's scheduled
The surge of the yellow metal's price did not reach the 1,570.00 level. The pair reversed its surge at 1,568.90. On Tuesday morning, the rate had declined to trade sideways between 1,554.00 and 1.558.00. In the meantime, the metal had retreated to the support of the hourly simple moving averages. With it, gold no longer was under overbought pressure. Economic Calendar Analysis The
Instead of consolidation a surge has occurred on the hourly candle chart. During Monday's early trading hours, the metal's price reached above the 1,560.00 level. In general, if the hourly simple moving averages provide the price with support, it could surge up to the 1,570.00 level. Economic Calendar Analysis The week's scheduled event historical data tables have been published. Click on the link
Since Wednesday, the XAU/USD exchange rate has been consolidating in the 1,555.00 area. Given that the rate is squeezed by 55-, 100- and 200-hour SMAs, it is likely that gold could continue to consolidate against the US Dollar in the short run. Economic Calendar Analysis Next week's scheduled event historical data tables have been published. Click on the link below to read the
Since Wednesday, the XAU/USD exchange rate has been consolidating in the 1,555.00 area. Given that the rate is squeezed by 55-, 100- and 200-hour SMAs, it is likely that gold could continue to consolidate against the US Dollar in the short run. Economic Calendar Analysis This week's scheduled event historical data tables have been published. Click on the link below to read the
On Wednesday morning, the XAU/USD exchange rate traded at 1,553.00. Given that the rate is squeezed by 55-, 100- and 200-hour SMAs, it is likely that gold could consolidate against the US Dollar in the short run. Economic Calendar Analysis This week's scheduled event historical data tables have been published. Click on the link below to read the article. Read More: 13.01-17.01 Event
On Monday morning, the XAU/USD exchange rate tested the monthly R1 at 1,544.31. Given that the rate is pressured by the 100- and 200-hour SMAs, it is likely that the price for gold could go downwards. Economic Calendar Analysis This week's data releases will start with the US CPI and Core CPI on Tuesday at 13:30 GMT. Meanwhile, this week's scheduled event historical data
On Monday morning, the XAU/USD exchange rate consolidated around the 1,555.00 level. Given that the rate is squeezed by the 100- and 200-hour SMAs, it is likely that the price for gold could maintain its consolidation. Economic Calendar Analysis This week's data releases will start with the US CPI and Core CPI on Tuesday at 13:30 GMT. Meanwhile, this week's scheduled event historical data
On Friday, the yellow metal traded above the support of the 200-hour simple moving average, which was supported by the R1 monthly pivot point at 1,544.31. In general, the price was expected to trade sideways until the resistance of the 55-hour simple moving average approaches. Economic Calendar Analysis The week will end with the three US employment data sets being published at 13:30
The yellow metal declined on Thursday, as risk on sentiment returned in the markets. By the middle of the day's London trading hours, the rate had reached the support of a pivot point at 1,544.31. In addition, an attempt to pass the pivot point was stopped by the technical support of the 200-hour simple moving average at 1,541.00. Economic Calendar Analysis The week
The Iranian government fired rockets at US bases in Iraq. The news caused a spike of gold prices. However, as soon as it was revealed that there were no casualties, gold began to decline. By the middle of London's trading session, the rate had retreated back below the 1,580.00 level. Meanwhile, the move was consistent with the technical chart from more than
After reaching a seven year high on US-Iran tensions, the yellow metal began to retreat. The price declined to the support of the 55-hour simple moving average and reversed at 1,555.00. On Tuesday, the pair was set to be pushed by the simple moving average into the resistance of the weekly R2 pivot point at 1,570.60. Economic Calendar Analysis This week, data releases
The Iranian-US turmoil propelled the yellow metal, as funds ran to safety. The metal's price managed to shortly reach above a 100.00% Fibonacci retracement level at 1,580.00 Our analysts set speculative high level at this mark, by using the low level of 2018 and setting the 23.60% retracement at the early 2019 high level. Economic Calendar Analysis This week, data releases will start