After touching the 1,625.00 level on Tuesday, on Wednesday, the yellow metal's price had returned to trade between the 55 and 100-hour simple moving averages. As the rate had already broken the 100-hour SMA's support on Tuesday, it was not expected to hold on Wednesday. Economic Calendar Analysis During the week there are no notable events that might impact gold. However, some
The USD/JPY currency exchange rate had reached the 110.00 level on Tuesday. From this level, the pair rebounded to test the resistance levels that were located above 110.50. The future scenarios were based upon what would happen at the technical resistance levels. Economic Calendar During the week there are no notable events that might impact the currency exchange rate. However, some economic calendars
On Tuesday, the GBP/USD bounced off the resistance of the 1.3020 level. By the middle of Wednesday's trading, the GBP/USD had almost plummeted by 100 pips and touching the 1.2920 level. At that level, the rate should find the support of a 38.20% Fibonacci retracement level. Economic Calendar During the week there are no notable events that might impact the currency
On Wednesday, the EUR/USD currency pair broke the resistance of the technical levels that were located from 1.0872 to 1.0886. Meanwhile, by the middle of the day, the rate had revealed a rising wedge pattern, which could continue to guide the pair. Economic Calendar Analysis During the week there are no notable events that might impact the EUR/USD currency exchange rate.
On Tuesday, the yellow metal had retreated down to the hourly simple moving averages. By retracing down, the bullion removed some of the overbought pressure that appeared during this week. By the middle of the day's London trading hours, the commodity price had found support in the 100-hour SMA near 1,635.00 and attempted to pass the 55-hour SMA at 1,655.00. Economic
On Tuesday morning, the USD/JPY currency exchange rate declined below the 200-hour simple moving average and below the 110.50 level. However, it did not indicate that the pair would continue to decline, as the same type of piercing of these levels also occurred on Monday. It was not followed by a further drop of the pair. Economic Calendar During the week there
On Monday, the 1.2900 level provided the GBP/USD with the needed support for the pair to break most resistance provided by technical levels. By the middle of Tuesday's GMT hours, the rate was approaching the 1.3000 level. At that level the rate was expected to meet with the resistance trend line of the February high levels. Economic Calendar During the week
By the middle of Tuesday's London trading hours, the EUR/USD had reached the support of two hourly simple moving averages and a weekly simple pivot point near 1.0830. The short term future scenarios were based upon what would happen at this level. Economic Calendar Analysis During the week there are no notable events that might impact the EUR/USD currency exchange rate. However,
The 55-day simple moving average has caught up with the DUK+/EUR currency exchange rate. However, it has occurred not only by the SMA moving higher, but also due to the pair declining to the 1.8000 level. At the start of this week, it could be observed that the exchange rate was being pushed up by the SMA. Daily Candle Chart On
The yellow metal's surge has reached the 1,690.00 level. Moreover, the price has passed the resistance of a monthly pivot point at 1,667.43. In general, it was expected that the bullion's price would soon test the resistance of the 1,700.00 level. Economic Calendar Analysis During the week there are no notable events that might impact gold. However, some economic calendars have US
On Monday, the USD/JPY was approaching the support of a weekly PP and the 100-hour SMA near the 111.15 level. If this level keeps the rate up, it could once again test the 112.20 level. Economic Calendar During the week there are no notable events that might impact the currency exchange rate. However, some economic calendars have US events listed as high impact.
After reaching the 1.2980 level on Friday, the GBP/USD began a decline. By the middle of Monday's GMT trading hours, the currency exchange rate had reached the 1.2900 level. Moreover, the pair had passed most technical support levels and could decline as low as 1.2860. UK Flash PMIs The British Pound traded sideways against the US Dollar, following the
The EUR/USD started the week by trading between the support of the 55 and 100-hour SMAs near 1.0810 and the resistance of the 200-hour SMA near 1.0830. In general, it was observed that the pair could break out in either direction up or down. US Flash Manufacturing PMI The Euro appreciated against the US Dollar, following the US Flash Manufacturing PMI
The surge of the yellow metal has continued, as on Friday the 1,635.00 level was reached. During the latest surge, the commodity price passed the resistance of a monthly pivot point at the 1,628.78 level. Due to that reason the closest by technical resistance was the monthly R2 simple pivot point at the 1,667.43 level. Economic Calendar Analysis Next week there are
On Friday, the USD/JPY retraced down to the 111.50 level, where it was about to meet with the support of the 55-hour simple moving average. The 55-hour simple moving average could provide the pair with the needed support to push through the resistance of the 112.20 level. USD/JPY 2.34% surge Since Wednesday, February 19, the Japanese Yen depreciated 2.34% or 257
As expected, on Thursday the GBP/USD reached the 1.2850 level. This level provided the rate with support, and, by the middle of Friday's London trading hours, the pair had reached the resistance levels near 1.2920. In general, future forecasts were based upon what would occur at the 1.2920 level. UK Retail Sales The British Pound appreciated against the
The 55-hour SMA failed to push the rate through the support of the weekly S1 simple pivot point, which is located at 1.0788. Moreover, the currency exchange rate has managed to pass the resistance of both the 55 and 100-hour simple moving averages. FOMC Meeting Minutes The European Common Currency traded sideways against the US Dollar, following the FOMC Meeting Minutes
Since the middle of Wednesday's GMT trading hours, the yellow metal's price has been trading sideways around the 1,610.00 level. The commodity price was expected to continue to trade sideways until it would be approached by the support of the 55-hour simple moving average. Economic Calendar Analysis No more data releases that could impact gold's price are scheduled for this week.
By the middle of Thursday's trading, the USD/JPY had reached the 112.00 level. Since the middle of Tuesday's flat trading, the pair had surged more than 2.25%. The reasons for the surge were two sided. The US Dollar was gaining strength, as the US Dollar index had reached a historical high level. In the meantime, the Yen was losing value due
The 200-hour simple moving average failed to keep the rate up. Moreover, the support cluster of technical levels from 1.2900 to 1.2924 also failed. By the middle of Thursday's London trading hours, the GBP/USD currency exchange rate had reached the 1.2880 level. UK Consumer Price Index The British Pound appreciated against the US Dollar, following the UK CPI release
During the first half of Thursday's GMT trading hours, the EUR/USD traded between the support of the weekly S1 simple pivot point at 1.0788 and the 55-hour simple moving average near 1.0800. In general, it was expected that the 55-hour SMA would push the rate through the support of the pivot point, and the rate would decline. Economic Calendar Analysis This week
The 1,600.00 level has been passed by the yellow metal's price. Moreover, by the middle of Wednesday's London trading hours, the pair had reached the 1,610.00 level. In the meantime, the pair had left below it the hourly simple moving averages, which indicates that the rate is overbought. In addition, the pair broke the upper trend line of a channel
The USD/JPY continued to ignore technical levels. After passing various support levels and trading below them, on Tuesday, the rate began a sharp surge. By the middle of Wednesday's GMT trading hours the rate had jumped above the 110.40 level. In general, the surge was caused by fundamentals associated with the coronavirus, as the Japanese Yen has been abandoned as a
Despite not having any technical resistance on Tuesday, the GBP/USD did not surge. Instead, by the middle of Wednesday's trading session the rate had retreated to the 200-hour simple moving average near 1.2980. In the case of the SMA failing to provide support, the currency exchange rate could drop down to the weekly S1 simple pivot point at 1.2924. Economic