By the middle of Friday's London trading hours, GBP/USD currency exchange rate had reached the 1.3140 level. Immediately after the achievement, the rate retraced back to find support in the 1.3100 mark. In the near term future, the GBP/USD was expected to continue and reach the weekly R1 simple pivot point at 1.3181. Bank of England Monetary Policy Report The
On Thursday, the surge of the EUR/USD found resistance in the 1.1040 level. Afterwards a consolidating decline down to the support of the 55 and 100-hour SMAs occurred. The currency exchange rate found support in those technical indicators. In general, the rate was expected to recover and make another attempt to pass the resistance at 1.1040. In the meantime, take into
On Thursday, the surge of the yellow metal's price continued, as the pair managed to pass the resistance of hourly SMAs. By the middle of the day's GMT hour trading, the price had already touched the 1,583.00 level. Economic Calendar Analysis There are no more events scheduled for this week that might impact gold through the adjustments of USD valuation. XAU/USD
On Thursday, the USD/JPY once again retreated to the support of the 108.80 level, which has kept the rate up throughout this week. In the meantime, the pair has passed the support of a trend line, which was recently added by connecting the January low levels. Economic Calendar There are no more event scheduled for this week that might impact the USD/JPY currency
On Thursday, the Bank of England Monetary Policy Committee's vote dispersion surprised the markets, as it was more bullish for the GBP than it was expected. Namely, GBP/USD jumped due to the announcement. Note that the spike occurred a minute before the release. This happens during the aftermath of a scandal of BoE announcement information being released to some
The EUR/USD found support in the weekly S1 simple pivot point at 1.0992 and began a surge. By the middle of Thursday's trading, the rate had pierced the last resistance level near the 1.1020 mark. In the near term future, the currency exchange rate was expected to aim for the upper trend line of a channel down pattern near the 1.1025
The yellow metal's price found support in the 200-hour simple moving average near 1.565.00. This event resulted in a surge, which on Wednesday reached for the 1,575.50 level. At that level, the commodity price would test the resistance of the 55-hour simple moving average, which by mid-day was located at 1,575.50. Economic Calendar Analysis On Wednesday, the US Federal Funds
The rate ended trading sideways on Tuesday and slightly surged until it was squeezed in between the 55 and 100-hour simple moving averages at 109.03 and 109.18. In general, any squeeze ends with a break out. In this case it could result in a surge to 109.55 or a drop to 108.90. Economic Calendar On Wednesday, the US Federal Funds Rate is scheduled
The 1.3000 level was pierced on Tuesday. On Wednesday, the rate had retraced back up in the borders of a channel down pattern. In the near term future, the rate was expected to bounce off the upper trend line of the pattern and resume its decline. In the case of a decline, the pair would aim for the support
On Wednesday, the EUR/USD rate pierced the support of the 1.1000 level. Namely, it traded shortly below this mark. However, it does not indicate that the rate is set to reach new low levels. The pair was piercing the 1.1000 mark the same way in November when the rate eventually found support and surged. ECB Monetary Policy Statement The European
The DUK+/EUR exchange rate started the week by trading near its historical high level at 2.05. In general, the rate was expected to fluctuate just below this level, as market depth data revealed that there is a large amount of sell orders above the current price level. Daily Candle Chart On the daily candle chart, the currency exchange rate is overbought,
After two attempts to pass the 1,585.00 level, the yellow metal's price began a decline. Namely, on Tuesday the price tumbled below the 55-hour simple moving average near 1,575.00. In the near term future, the price was expected to look for support. Economic Calendar Analysis This week, on Tuesday, minor spike in volatility could occur due to the US Durable
On Tuesday, the USD/JPY traded sideways with high volatility, as it had also done on Monday. Meanwhile, the rate had been approached by the 55-hour simple moving average, which should provide resistance to the rate. Economic Calendar On Tuesday, minor spike in volatility could occur due to the US Durable Goods Orders Release at 13:30 GMT. This event has caused moves on the
On Tuesday morning, the GBP/USD exchange rate touched the 1.3005 level. In general, the rate was expected to continue to decline until it reaches the 1.3000 level. The 1.3000 level is expected to provide support. However, take into account that the 1.3000 failed to stop the pair from declining two times in January. Economic Calendar During the last week of
Since the middle of Monday's GMT trading hours, the EUR/USD has traded almost flat near the 1.1020 level. In the meantime, the rate was being approached by the 55-hour simple moving average. The SMA was expected to provide resistance and push the rate down. Economic Calendar Analysis This week, on Tuesday, minor spike in volatility could occur due to the US Durable Goods
On Monday morning, the price for gold jumped to the 1,585.00 level. It is likely that yellow metal could consolidate in the 1,580.00 area against the US Dollar within the following trading session. Economic Calendar Analysis This week, on Tuesday, minor spike in volatility could occur due to the US Durable Goods Orders Release at 13:30 GMT. On Wednesday,
During Monday morning, the USD/JPY currency pair was testing the support level formed by the weekly S1 and the monthly PP at 108.90. If the given level holds, it is likely that a reversal north could occur within the following trading session. Economic Calendar On Tuesday, minor spike in volatility could occur due to the US Durable Goods Orders Release at 13:30 GMT.
During Monday morning, the GBP/USD exchange rate was trading between the 55- and 200-hour moving averages. If the given moving averages hold, it is likely that the British Pound could consolidate against the US Dollar in the short term. Economic Calendar During the last week of January, most attention will be paid to the US Federal Reserve and the
During Monday morning, the EUR/USD was trading at the 1.1030 area. The pair could gain support of the lower boundary of the short-term descending channel and reverse north in the nearest future. Otherwise, some downside potential could prevail. Economic Calendar Analysis This week, on Tuesday, minor spike in volatility could occur due to the US Durable Goods Orders Release at 13:30 GMT. This
The recently discovered wedge pattern enforced its borders on Thursday. The metal's price bounced off its lower trend line and reached the January 21 high level. By the middle of Friday's London trading hours, the commodity price had bounced off the high level and reached for the support of the 55 and 100-hour simple moving averages near 1,559.00. Economic Calendar Analysis There are
The decline of the USD/JPY stopped at the 109.27 level and began a retracement back up. The retracement reached the 55-hour simple moving average on Friday, which signaled that the rate is no longer oversold. In the meantime, Dukascopy Analytics spotted a channel down pattern, which has guided the rate since the middle of January. Namely, it starts with the sideways
On Friday morning, the GBP/USD traded with almost 100 pip volatility during a period of one hour. The volatility ended with the rate trading below the 1.3100 level. At the time of writing, the pair was finding support in the 1.3080 level, which was strengthened by the support of the 100-hour simple moving average. Economic Calendar During the last week of January, most
As forecast on Thursday, the EUR/USD declined. The push for the rate's decline was the ECB Monetary Policy Statement, which revealed that the creation of the EUR currency would continue. Namely, there will be more EUR in circulation, which decreases the value of the currency. By the middle of Friday's trading, the rate had almost touched the 1.1030 level. Moreover, the
On Thursday, gold continues to trade around the hourly simple moving averages. In the meantime, Dukascopy Analytics spotted a rising wedge pattern that captures the rates movements after the Iran-US fundamental surge. If the price continues to follow the pattern, it should eventually reach the resistance of the 1,570.00 level. Economic Calendar Analysis The week's scheduled event historical data tables have been published.