The 1,640.00 price level continues to hold, as the yellow metal trades sideways between the 1,640.00 and support levels near 1,620.00. On Monday, the rate was approached by the additional technical support of the 100-hour SMA. In theory, the simple moving average should push the commodity price up. Economic Calendar Analysis During this week, data can be ignored, as the fundamental background has
The decline of the USD/JPY reached below the 107.50 level on Monday morning. Afterwards, a recovery began, which was expected to end during the second part of Monday's GMT trading hours. Namely, the rate was about to face the resistance of a channel down pattern and the 55-hour simple moving average. Economic Calendar During week, data can be ignored, as the fundamental
As expected on Friday, the GBP/USD passed the resistance of the 1.2300 level. Moreover, on Friday, the rate approached the resistance of the 1.2500 mark. On Monday, the rate had retreated, as it consolidated its previous gains. Economic Calendar This week, data can be ignored, as the fundamental background is changed in a way that historical data does not matter. However,
On Monday, the EUR/USD was declining in the aftermath of testing the 1.1150 level. By the middle of the day's GMT trading hours, the rate was set to reach the support of the 1.1050 mark. Meanwhile, the 55-hour simple moving average was approaching the 1.1050 mark. Last week, the SMA caused a surge of the rate to the 1.1150 level. Economic
As expected, the yellow metal did another test of the resistance of the 1,640.00 level. The price failed to surge higher and retreated to the support of the 55-hour simple moving average near the 1,620.00 level. Afterwards, the rate started fluctuating almost flat just above the SMA. Economic Calendar Analysis Next week, data can be ignored, as the fundamental background is so much
The USD/JPY declined even more than expected during the last 24 hours. Moreover, it continues to plummet, as, at the time of writing, the rate was heading to the 108.00 level. Moreover, the pair had no technical support levels close by that could stop the decline. Economic Calendar Next week, data can be ignored, as the fundamental background is so much
On Friday, the GBP/USD was testing the resistance of the 1.2300 level while being supported by the 1.2150. Meanwhile, the rate ignored pivot points, as round price levels were impacting the currency exchange rate. In regards to the future, the rate was expected to surge, as soon as the 55-hour simple moving average catches up with the GBP/USD. UK
As laid out in the main forecast on Thursday, on Friday the EUR/USD reached the targeted 1.1080 level. At that level the pair met with the resistance of a pivot point, which caused a decline. By the middle of Friday's GMT trading hours, the rate had stopped above the 1.1000 level's support. US Weekly Unemployment claims On Thursday, the weekly US unemployment
After testing the support of the 1,600.00 level for four times since Wednesday morning, the yellow metal began to surge on Thursday. It occurred, as the commodity price got approached by the 55-hour simple moving average. In regards to the near term future, another test of the 1,640.00 level was expected. Economic Calendar Analysis The macroeconomic data release week will end with the
The 111.50 level held after five attempts to break it. The USD/JPY has plummeted, as it passed all of the support levels from 110.80 to 111.30. By the middle of Thursday's GMT trading hours, the currency exchange rate was about to approach support levels that were located from 109.18 to 109.38. Economic Calendar The week will end with the US Final GDP
As expected, the GBP/USD looked for support in the 55 and 100-hour SMAs, which caused a rates surge. By the middle of Thursday's GMT trading hours, the currency exchange rate was already testing the 1.2000 level. In the meantime, the 1.2000 level's resistance was strengthened by the upper trend line of a rising wedge pattern. Economic Calendar The week will
On Thursday, the EUR/USD was heading to the 1.1000 level. The surge was mainly attributed to a decline of the US Dollar that was caused by the US government announcing $2 trillion stimulus measures. Namely, the US government announced that it is set to borrow money from the public and mainly the Federal Reserve via bonds. The Fed is likely
The surge of the yellow metal eventually bounced off the 1,640.00 level and declined to the 1,600.00 level. The decline was seen as a consolidation of the commodity price before resuming its surge. Economic Calendar Analysis The macroeconomic data release week will end with the US Final GDP data release on Thursday at 12:30 GMT. Meanwhile, next week's data is available. Click on the
As expected, the USD/JPY tested the 111.50 level for a third time and failed at passing it. On Wednesday, another attempt was expected. In general, the rate was set to be pushed higher by the support of the 55 and 100-hour SMAs and the lower trend line of a channel up pattern. Economic Calendar The week will end with the US
On Wednesday morning, the weekly PP at 1.1838 and the 200-hour SMA at 1.1896 were pierced. However, after shortly trading above the 1.1950 level, the GBP/USD declined below the mentioned technical levels. It was possible that the rate would reach for the combined support of the 55 and 100-hour simple moving averages. Economic Calendar On Thursday, March 26, the UK
During the 24 hours up to the writing of this article, the EUR/USD had failed at attempts to surge. The pair retreated until it found support in the 55-hour simple moving average. The 55-hour SMA had been pushing the rate higher since the second part of Tuesday's GMT trading hours. In the near term future, the SMA was expected to
As the DUK+/EUR currency exchange rate continues to trade sideways near the 1.7500 level, it has been approached by a technical support level. Namely, the 100-day simple moving average has reached the pair. In theory, the simple moving average should push the rate up to the cluster of various resistance levels that surround the 1.8500 mark. Daily Candle Chart On the
On Tuesday, the yellow metal's price passed the 1,600.00 level and touched the 1,620.00 mark. By the middle of the day's GMT trading hours, the 1,620.00 was keeping the commodity price from surging higher. Economic Calendar Analysis This week, there are couple of events that could affect the XAU/USD exchange rate. On Wednesday, March 25, the US Durable Goods Orders data will be released
On Tuesday, the rate continued to trade near the trading levels of the past few trading sessions. Moreover, it was expected that the pair could test the resistance of the 111.50 level for a third time. In the case of this level failing, the rate could test the 112.00 level, which caused the February drop. Economic Calendar This week is expected
On Tuesday, the GBP/USD currency exchange rate was recovering, as it headed to the resistance of the weekly pivot point at the 1.1838 level. The rate was expected to reach this level and trade below it until the additional support of the hourly simple moving averages pushes the rate through the pivot point. Economic Calendar This week, there are couple
By the middle of Tuesday's GMT trading hours, the EUR/USD currency exchange rate's recovery was approaching the 1.0900 level. In general, the rate was expected to continue to surge as high as the 1.0950 level. Above this level the pair would meet with two technical resistance levels. Economic Calendar Analysis This week, there will be couple of events that could impact the
During Friday, the XAU/USD exchange rate consolidated in the 1,500.00 area. During Monday morning, the price for gold maintained its consolidation. Economic Calendar Analysis This week, there are couple of events that could affect the XAU/USD exchange rate. On Wednesday, March 25, the US Durable Goods Orders data will be released at 12:30 GMT. Later this day, the US Crude Oil Inventories are
On Friday, the USD/JPY currency pair touched the 111.50 level. During Monday morning, the pair was trading in the 110.50 area. The pair could could use support of the 55-hour SMA and go upwards in the nearest future. Economic Calendar This week is expected to be relatively calm for the USD/JPY pair. On Wednesday, the US Durable Goods Orders data will
The GBP/USD exchange rate remains above the psychological level at 1.1500. Also, the rate failed to surpass the 100-hour SMA. During Monday morning, the rate was trading below the 55-hour SMA. The given moving average could push the rate down. Economic Calendar This week, there are couple of events that could affect the GBP/USD rate. On Wednesday, March 25,