On Thursday morning, the EUR/USD traded near previous session's levels by bouncing around the 1.1200 level. Meanwhile, note that the rate had passed below all of the technical levels, which in theory signals that the pair should decline. Latest Fundamental Event On Wednesday, May 1, the Federal Open Market Committee decided to left the key benchmark rate unchanged at the 2.50% level. The
Gold has surged, as expected. It got pushed up by the support of the hourly charts simple moving averages. On Wednesday, the surge had already reached above the 1,290.00 level. Economic Calendar Analysis This week all the action on the US Dollar from a fundamental side will be in the second half of the week. Meanwhile, there are large events to watch
USD/JPY dropped, as described before. The support of the 110.00 level was reached on early Wednesday morning. During the day the rate was consolidating by trading sideways between the 110.00 and 110.20 levels. Latest Fundamental Event Bureau of Labor Statistics released the US Non-Farm Employment Change, which came out better-than-expected of 263K compared with forecast 181K. Note, that the US Average Hourly Earnings
After reaching above the previously set target of 1.3160 and touching the 1.3180 level, the GBP/USD dropped. By the middle of Wednesday's trading session, the rate had reached down to the 1.3000 level. The future short term forecasts were based on what happens at that level. Latest Fundamental Event On Thursday, May 2, the Bank of England Monetary Policy Committee voted to hold
The EUR/USD has increased its trading volatility by retracing down on Tuesday. However, by the middle of Wednesday's trading it was once more located near the 1.1200 mark. Meanwhile, it could be spotted that all of the many technical support levels only have minor impact on the currency exchange rate. Latest Fundamental Event On Wednesday, May 1, the Federal Open Market Committee decided
After consolidating its gains by retracing down to the technical support of the 100 and 200-hour simple moving averages the yellow metal's price returned to the previous trading levels. Namely, on Tuesday morning the metal traded between 1,280.00 and 1,284.00. In regards to the near term future, the price was expected to wait for the hourly SMAs to catch up and
On Tuesday morning, the USD/JPY remained near the previous trading session's levels. Meanwhile, the 55-hour SMA was approaching the rate. The additional resistance signals that the consolidation of the rate after the recent gap drop is about to end. Latest Fundamental Event Bureau of Labor Statistics released the US Non-Farm Employment Change, which came out better-than-expected of 263K compared with forecast 181K.
As expected, the GBP/USD reached the support of the weekly pivot point at 1.3089. It bounced off it as soon as the 55-hour simple moving average approached from below and provided additional support. The rate began a surge, which on Tuesday was expected to reach the 1.3160 level. Latest Fundamental Event On Thursday, May 2, the Bank of England Monetary Policy Committee voted
The EUR/USD has gotten out of the previous squeeze by surging. On Tuesday morning, the currency exchange rate had reached the resistance of a monthly pivot point at 1.1217. If this technical level gets broken, the rate would have a free range to surge up to the 1.1268 level. At that level the pair would meet with the weekly R1. Latest Fundamental
Gold has bounced off dominant support and jumped. It touched the 1,286.00 level before beginning a decline, on Monday. The commodity price was consolidating its recent gains. Economic Calendar Analysis This week all the action on the US Dollar from a fundamental side will be in the second half of the week. Meanwhile, there are large events to watch prior to that. On Tuesday,
The USD/JPY started the week's trading with a gap down. The gap opened below the previously drawn patterns. Trump's announcements were being blamed for the drop. Although, it was the reaction of the market on the President's trade related announcement that caused the drop, as no law was signed by Trump. Namely, there is no change in the flow of trade
Brexit volatility is back on the GBP/USD charts. Namely, the UK's political parties are negotiating and quarrelling among themselves. In general, the hourly chart's patterns were broken. The future forecast is described below. Latest Fundamental Event On Thursday, May 2, the Bank of England Monetary Policy Committee voted to hold the Bank Rate unchanged at 0.75%. According to the Bank of England Inflation
EUR/USD got squeezed in on Friday. By the middle of Monday the rate was located between strong support at 1.1180 and the resistance levels at the 1.1200 level. Two scenarios are outlined in the hourly chart's analysis. Latest Fundamental Event On Wednesday, May 1, the Federal Open Market Committee decided to left the key benchmark rate unchanged at the 2.50% level. The US
Gold has traded sideways during the last 24 hours, as its price has consolidated after the sharp drop that occurred since May 1. Meanwhile, the rate still had no technical support as low as 1,263.70. The exception to this was the psychological support provided by the 1,270.00 level. Economic Calendar Analysis On Friday, the US Employment data sets will be published at 12:30
As it was previously forecast, the USD/JPY is getting squeezed in between the support of the 55-hour simple moving average and the resistance of the 200-hour simple moving average. The levels are closing in one on another. It indicates that the currency exchange rate should break out up or down in the near future. Latest Fundamental Event The Federal Reserve released the FOMC
On Friday, GBP/USD signalled that it will drop down to the 1.2970 level. Namely, the rate passed the support levels near 1.3000 level. At the 1.2970 level the currency exchange rate was expected to meet with the support of the 200-hour simple moving average. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Official Bank Rate release on
Short traders continue to gain on Friday, as the EUR/USD continued to decline during the morning hours of the London session. In general, the rate had no technical support levels as low as the 1.1120 level, where a technical support level cluster begins. Latest Fundamental Event The European Common Currency depreciated against the US Dollar, following the US FOMC Statement and Federal Funds
Gold has dropped to the 1,270.00 level. The decline began in the aftermath of the volatility increase that was caused by the Federal Open Market Committee on Wednesday at 18:00. In general, the rate had no additional support besides the 1,270.00 round level as low as 1,263.70. Economic Calendar Analysis On Thursday, the Bank of England announced their monetary policy data and information
The fundamental announcement made by the FOMC on Wednesday caused a surge, which managed to push the currency exchange rate through the various technical resistance levels just below 111.60. In regards to the near term future, the pair is expected to get squeezed in. Latest Fundamental Event Census Bureau released the US Core Durable Goods Orders data that came out better-than-expected of 0.4%
Before the drop that was caused by the FOMC, the GBP/USD reached the 1.3100 level. By the middle of Thursday's trading session the pair managed to find support in the monthly pivot point and the 55-hour simple moving average near 1.3030. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release. The GBP/USD exchange
We congratulate the traders, which had open the 70% of total short position volume on the Swiss Foreign Exchange on Wednesday. The FOMC announcement late on Wednesday caused a drop below the 1.1200 level, from which these traders should have profited. Latest Fundamental Event The European Common Currency appreciated against the US Dollar, following the US ISM Manufacturing PMI data release on
Another attempt of gold to surge has failed. The yellow metal has reached down to the support of the 200-hour simple moving average. Meanwhile, it has been spotted that the hourly candle chart needs a review. It is expected that a full review of the chart will be conducted on Thursday. Economic Calendar Analysis During this week there are various macroeconomic data releases
Instead of reaching the weekly S1 at 111.18 the rate retraced up to the resistance of the 55 and 100-hour simple moving averages together with a new monthly PP at 111.56. Meanwhile, take into account that on the hourly candle chart a new channel down pattern has been added. Latest Fundamental Event Census Bureau released the US Core Durable Goods Orders data that
As expected, the GBP/USD has reached the 1.3000 level. Moreover, it has surged above it and was just below the 1.3080 level on Wednesday morning. 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.