The surge of the metal's price has surged above the 2,400.00 mark. However, resistance was found in the 2,430.00 mark and a sharp decline occurred. However, it appears that after a 100 dollar drop the price found support at 2,330.00. The follow up surge has encountered resistance in the range that surrounds the 2,350.00 level and the 50 and
On Monday, the USD/JPY was already surging, when US Retail Sales were released. The data boosted the USD even more. At mid-day the rate was above 154.00 and was heading to the combination of the 154.50 level and the weekly R2 at 154.56. A move above the weekly R2 and the 154.50 level, is expected to face resistance in the
The decline of the Pound against the US Dollar has found support in the 1.2425/1.2435 range. However, by mid-Monday, the rate had reached the resistance of the 50-hour simple moving average and the 1.2500 mark. It was observed that the broader decline was resuming. A decline of the GBP/USD pair is set to look for support in the 1.2450 level
The EUR/USD has declined, as expected. The rate has found support, as it approached the trend line that acted as support throughout March. On Monday, the rate recovered and traded with low volatility near the 1.0650 level. It appeared that the pair was waiting for additional news, before picking a direction. In the near term future, the rate could be
Throughout this week, US inflation was revealed to be higher than expected, despite rising inflation was already expected. This indicates that the FED has to hike rates, which is strengthening the USD. However, this is not resulting in a decline of the price for gold, as markets now that the rising inflation signals a potential economical recession, if the
Throughout this week, US inflation was revealed to be higher than expected, despite rising inflation was already expected. This indicates that the FED has to hike rates, which is strengthening the USD. Meanwhile, the Bank of Japan has ruled out that it could hike interest rates to stop the decline of the currency. The central bank is more concerned
Throughout this week, US inflation was revealed to be higher than expected, despite rising inflation was already expected. This indicates that the FED has to hike rates, which is strengthening the USD. Meanwhile, there was no help to the GBP from the UK GDP release on Friday morning. The published data revealed that GDP has increased by 0.1%, as
Throughout this week, US inflation was revealed to be higher than expected, despite rising inflation was already expected. This indicates that the FED has to hike rates, which is strengthening the USD. Meanwhile, the ECB is preparing to cut rates, as this week's ECB events have revealed that the worse off EU countries are pressuring the monetary policy committee
The price for gold is experiencing a classic surge. It reaches a new round price level. The price level acts as resistance. Gold retraces back to the previous price that acted as resistance, finds support and surges to break the resistance. This repeats over and over and over during the ongoing surge. Meanwhile, from time to time the hourly
Announcements by the Bank of Japan of upcoming tightening of JPY supply and that the bank does not want the USD/JPY above 152.00 pushed the rate down. The USD/JPY plummeted in sharp moves on Thursday and midnight to Friday. The rate reached the support zone at 150.70/150.90. However, the market still pushed the rate higher and at mid-Friday the
On Friday, the United States Bureau of Labor Statistics published the country's monthly employment data. Markets reacted to the release by buying the US Dollar and selling off other assets. On the GBP/USD charts it resulted in a decline to levels near 1.2580, before a recovery occurred. This move and the price action before have confirmed the existence of support
On Friday, the United States Bureau of Labor Statistics published the country's monthly employment data. Markets reacted to the release by buying the US Dollar and selling off other assets. On the EUR/USD charts it resulted in a drop to the combined support of the 1.0800 mark and the 100 and 200-hour simple moving averages. These levels held and
Since Tuesday, US central bankers have made comments that they could cut interest rates. In addition, incoming data for various sectors confirms that the Federal Reserve could reduce rates. Moreover, the head of the Fed Jerome Powell has commented that easing could be done, if inflation continues to ease. Due to this reason, the US Dollar has declined in
Since Tuesday, US central bankers have made comments that they could cut interest rates. In addition, incoming data for various sectors confirms that the Federal Reserve could reduce rates. Moreover, the head of the Fed Jerome Powell has commented that easing could be done, if inflation continues to ease. Due to this reason, the US Dollar has declined in
Since Tuesday, US central bankers have made comments that they could cut interest rates. In addition, incoming data for various sectors confirms that the Federal Reserve could reduce rates. Moreover, the head of the Fed Jerome Powell has commented that easing could be done, if inflation continues to ease. Due to this reason, the US Dollar has declined in
Since Tuesday, US central bankers have made comments that they could cut interest rates. In addition, incoming data for various sectors confirms that the Federal Reserve could reduce rates. Moreover, the head of the Fed Jerome Powell has commented that easing could be done, if inflation continues to ease. Due to this reason, the US Dollar has declined in
The price for Gold has continued to move higher after finding support in 2,160.00 last week. At the start of April, the price almost reached the 2,270.00 level, before selling started. However, the metal eventually found support at 2,225.00/2,230.00. By mid-Tuesday, the price was again testing the April high levels. Meanwhile, it has been spotted that the surge might have
Despite shortly reaching above the 151.75/151.85 resistance zone last week, the USD/JPY did not extend the surge. Instead, fundamental events caused a decline to the support of the 151.00 level. Namely, the Bank of Japan revealed that it could intervene in the currency market, if the Yen continues to fall. A breaking of the 151.75/151.85 range is set to
The GBP/USD continued to find support in the 1.2590/1.2610 range and resistance near 1.2640/1.2660 during the late part of March. However, on March 30, the US Dollar strengthened and caused a drop of the rate. The drop found support in the 1.2540 level and on April 2 a recovery started. The recovery is expected to face strong resistance in
The pair has continued to decline, as it is pushed by the resistance of the 50 and 100-hour simple moving averages. Meanwhile, support continues to be found in a descending trend line. At the start of a new month, the trend line acted as support. A recovery of the currency pair is set to face resistance in the 50-hour simple
On Friday, the price was finding support in the 2,161.40/2,164.90 zone. During the second part of the day's trading, the price passed below this zone. However, at 2,157.40 a rebound started. By mid-Monday, the price had recovered and traded above the 50, 100 and 200-hour simple moving averages near 2,175.00. A recovery of the commodity price is set to face
In general, the situation and the analysis of the rate has not changed since Friday. The USD/JPY remains below the 152.00 mark, which is the 2022 high level. Meanwhile, support is found in the 151.00 and 150.50 levels. In addition, the 50 and 100-hour simple moving averages have been acting as support. A move above 152.00 could encounter resistance in
Despite moving below the 1.2590/1.2610 range, the GBP/USD did not extend the decline. Instead, buying started at 1.2580 and the pair managed to recover. By mid-Monday, the rate was approaching the 1.2650 level and the weekly simple pivot point at 1.2659. A move above the weekly simple pivot point at 1.2659 could encounter resistance in the 100 and 200-hour simple
As expected, the EUR/USD has reached the 1.0800 mark. The round level acted as support and caused a recovery. By mid-Monday's trading, the rate was above the 50-hour simple moving average and the 1.0840 level. An extension of the ongoing recovery could face resistance in the combination of the 1.0850 level, the weekly simple pivot point at 1.0850 and the