On Thursday morning, the XAU/USD exchange rate reached the 1,720.00 level. It is likely that yellow metal could gain support from the 55-, 100- and 200-hour moving averages and trade upwards in the short run. Economic Calendar Analysis On Friday, the US ISM Manufacturing PMI is scheduled to be published at 14:00 GMT. The week's notable scheduled events are set to start on Tuesday
On Wednesday, the yellow metal fluctuated between the 1,702.00 and 1,712.00 levels, where it was influenced by a monthly pivot point and hourly simple moving averages. In general, the price was consolidating before a break out up or down. Both scenarios were possible and traders would look for signals, which one becomes reality. Economic Calendar Analysis On Wednesday, at 18:00 GMT, the Federal
By the middle of Tuesday's GMT trading hours, the yellow metal's price had reached back below the 1,700.00 level. However, after trading below the 1,700.00 mark, the rate began a recovery, which was expected to test resistance near 1,720.00 mark. Economic Calendar Analysis This week starts with the US Advance GDP release on Wednesday at 12:30 GMT. This is the first of
At the end of last week, the price for gold failed to reach the psychological level at 1,740.00. During Monday morning, the XAU/USD exchange rate consolidated in the 1,720.00 area. Economic Calendar Analysis This week starts with the US Advance GDP release on Wednesday at 12:30 GMT. This is the first of three types of US quarterly GDPs. The Advance release reveals the
As expected, the yellow metal's price reached the March high level of 1,740.00. The historical high level provided resistance, which resulted in a decline to the 1,721.50 level. This level provided support to the price. On Friday, the rate traded sideways between 1,721.50 and 1,735.00. Economic Calendar Analysis This Friday, a notable reaction of above then pips could be created by the US
During the late hours of Wednesday's trading, the yellow metal's price managed to pass the resistance of the 1,700.00 level and the pivot point at 1,704.29. This event resulted in a surge, which by the middle of Thursday's trading had almost reached the 1,730.00 level. Economic Calendar Analysis On Thursday, at 12:30 GMT, the US Unemployment Claims are scheduled to be released. Most
On Wednesday, the metal's price returned to trade near the 1,700.00 mark. Namely, the rate shortly reached above the 1,705.00 level. In the case of the pair properly breaking the resistance of the 1,700.00 level, the pair could reach for the previous high level of 1,740.00. Economic Calendar Analysis On Thursday, at 12:30 GMT, the US Unemployment Claims are scheduled to be released.
As forecast, the recovery of the yellow metal's price reached the 1,700.00 level. The rate bounced off this price level after making two attempts to reach above it. As the review was created, the metal ended trading sideways below the 1,700.00 level and plummeted to the support of the 1,675.00 mark. Economic Calendar Analysis On Thursday, at 12:30 GMT, the US Unemployment Claims
After falling to the 1,674.40 level on Friday, the yellow metal's price recovered on Monday. By the middle of Monday's trading, the rate had reached the resistance of the 200-hour SMA at 1,690.00 In the case of the 200-hour SMA failing to hold, the rate could aim for the 1,700.00 level. Economic Calendar Analysis On Thursday, at 12:30 GMT, the US Unemployment Claims
The bearish scenario of the metal's price has become reality, as the bullion has declined to the 200-hour simple moving average near 1,685.00. In regards to the future, the price is expected to consolidate, as it would get squeezed in between the 200-hour SMA and the resistance of the 55 and 100-hour SMAs. Economic Calendar Analysis On Thursday, at 12:30 GMT, the US
On Thursday, the yellow metal's price ended trading just above the 1,710.00 level, as the rate attempted a surge. However, by mid-day the bullion still remained below 1,740.00 mark. In the near term future, it was expected that the metal's price could surge to the 1,740.00 level and test its resistance. Economic Calendar Analysis On Thursday, all attention is expected to be
After almost touching the 1,750.00 mark on Tuesday, the yellow metal declined to the 55-hour SMA near the 1,710.00 level. The metal's price was expected to trade sideways until it would resume its surge. Economic Calendar Analysis Due to the fundamental changes in the markets, Dukascopy Analytics suggests to note the scheduled macroeconomic events, but avoid using historical data for guidance. Namely, the whole
The yellow metal trades above the 1,700.00 level. By the middle of Tuesday's GMT trading hours, the rate had almost reached the 1,730.00 level. However, additional gains were not expected, as the rate had begun to trade sideways around the 1,720.00 mark. Economic Calendar Analysis Due to the fundamental changes in the markets, Dukascopy Analytics suggests to note the scheduled macroeconomic events, but
Instead of reaching the 1,640.00 level the yellow metal's price found support In the 1,645.00 level. The metal traded just above this level until 06:00 GMT. Afterwards, the rate resumed its surge and began to test the resistance of the 1,660.00 level. Economic Calendar Analysis Due to the fundamental changes in the markets, Dukascopy Analytics suggests to note the scheduled macroeconomic events, but
Just before midday GMT hours, the yellow metal passed the support of the 55-hour simple moving average, which had kept the commodity price up throughout the first half of the day. Due to the passing of the SMA, the price was expected to reach for the support of the 1,640.00 level, which would soon be strengthened by the 100-hour SMA. Economic Calendar
The scenario of the metal's price surge up to the 1,670.00 level has become reality. The metal reached the target shortly before GMT midnight hours. On Tuesday, after touching the 1,675.00 level, the price began a decline, which was finding support in the 1,650.00 level. Economic Calendar Analysis As it occurred during the last week, due to the fundamental changes in the markets,
On Monday, the yellow metal's price tested the resistance of the 1,640.00/1,645.00 zone. This zone stopped the metal's attempts to surge in late March. The commodity price's future was based upon what would happen in the zone. Economic Calendar Analysis As it occurred during the last week, due to the fundamental changes in the markets, Dukascopy Analytics suggest to note the scheduled macroeconomic
On Thursday, the yellow metals price was successful on its third attempt to pass the resistance of the 1,600.00 level. By the middle of Friday's GMT trading hours, the rate had reached the 1,620.00 level. In the future, the pair was expected to use the support of the hourly simple moving averages to reach for the 1,640.00 level, which was slowing
Since Wednesday morning, the yellow metal's price had been fluctuating between the 1,575 and 1,600.00 level, as the 1,600.00 kept providing resistance. In addition, by the middle of Thursday's GMT trading hours, the commodity price had additional resistance, which was provided by the 55 and 200-hour simple moving averages. Economic Calendar Analysis During this week, data can be ignored, as the fundamental background
As forecast, gold reached the support of the 200-hour simple moving average, as soon as the 1,600.00 level's support failed and was confirmed as resistance. On Wednesday, the pair found support in the 200-hour SMA, 1,570.00 level and the new monthly simple pivot point at 1,577.89. Economic Calendar Analysis During this week, data can be ignored, as the fundamental background has changed due
On Tuesday, the yellow metal declined to the 1,600.00 level. By reaching that level the commodity price passed the support of the monthly pivot point and the 55 and 100-hour simple moving averages. In general, if the support of the 1,600.00 would fail, the pair could drop as low as the 200-hour simple moving average near 1,572.00. Economic Calendar Analysis During this week,
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
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
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