The support of the 1,460.00 level provided enough strength for the metal to break three technical resistance levels. By the middle of Tuesday's London trading, the commodity price was expected to reach the 1,470.00 level. At that level, the price should meet with the resistance of the 100-hour simple moving average, which is the last technical resistance before the 1,475.00
As expected, a bounce off from the support of the 38.20% Fibonacci retracement level at 108.44 caused a surge up to the 55 and 100-hour simple moving averages. In general, the rate is expected to get squeezed in between the SMAs and the retracement level. A squeeze would afterwards result in a break out. A break out can occur either up
On Tuesday, the GBP/USD was approached by the additional support of the 100-hour simple moving average. The SMA strengthened the support of the 1.3140 level and pushed the rate higher. By the middle of the day's London trading hours, the rate had approached the resistance of the 1.3180 level, which stopped a surge on Monday. Economic Calendar This week there are a couple
On Tuesday morning, the EUR/USD was piercing the resistance of the 1.1080 level. Previously, on Monday, the rate failed to pass this level. If this level fails to hold the rate down, the pair would reach for the psychological resistance of the 1.1100 mark. Economic Calendar Analysis This week there are a couple of events that could impact the EUR/USD rate. On Wednesday,
Dukascoin started the week by testing the resistance of the 1.3000 level. In general, it was expected that the DUK+/EUR pair could pass this level, as it had pierced through it on Sunday, December 8. However, at that level there was a concentration of sell orders, which was slowing down the assets attempts to surge. Daily Candle Chart On the daily
The yellow metal plummeted on Friday, as good US employment data caused a surge of the US Dollar's value. On Monday, the metal's price had slightly recovered and reached the resistance of the 200-hour simple moving average near 1,465.00. Economic Calendar Analysis This week there are a couple of events that could impact the rate. On Wednesday, at 13:30 GMT the
On Monday, the USD/JPY has reached the support of the 38.20% Fibonacci retracement level at 108.44. In theory, the pair should trade above this level until the resistance of the 55 and 100-hour simple moving averages approach the rate. US Employment Data The Bureau of Labor Statistics released the US Non-Farm Employment Change data, which came out better-than-expected of 266K compared with
On Monday, the GBP/USD was being kept up by the technical support of the 55-hour simple moving average near the 1.3150 level. If the SMA would manage to continue to push the rate up, the pair should eventually reach the 1.3200 level, where a 50.00% Fibonacci retracement level was located at. US Employment Data The Bureau of Labor Statistics released the US
The EUR/USD has found support in the 200-hour SMA, and, by the middle of Monday's European trading session, the rate had reached the resistance of the 55 and 100-hour SMAs near 1.1080. The rate's future movements were based upon what would happen at the 1.1080 mark. US Employment Data The European Common Currency depreciated against the US Dollar, following the US Employment
The metal failed to pass the resistance of the 1,480.00 level on Thursday. By the middle of Friday's trading, the price had declined and found support in the 100-hour SMA at 1,471.30. In general, the price was expected to get squeezed in between the resistance of the 55-hour SMA and a pivot point near 1,475.50 and the support of the
As expected, the 109.00 level managed to hold and the USD/JPY currency exchange rate has retreated. By the middle of Friday's trading the pair had reached the 108.60 level and had no support as low as 108.40. In general, the rate was expected to reach the support levels at 108.40 and future forecast scenarios were based upon what would happen at
For fifteen hours, the GBP/USD made attempts to pass the 1.3165 level. On Friday, the rate failed at passing this level and retreated down to the support of three technical levels near 1.3110. In general, the rate was expected to find support in the 55-hour SMA, which should push the rate into the resistance of a 50.00% Fibonacci retracement level at
On Friday, the EUR/USD continued to be pushed higher by the support of the 55-hour simple moving average. By the middle of the day, the SMA had approached and strengthened the support of the pivot point at 1.1093. In addition, the pair was being approached by the 100-hour simple moving average, which had surged above the 1.1080 level. US ISM Non-manufacturing
The yellow metal's price has retreated to the 55-hour SMA, which stopped its decline on Wednesday. By the middle of Thursday's trading session, the SMA had caused a surge. The metal's price was set to once again test the psychological resistance of round price levels. Economic Calendar Analysis On Friday, the US Employment data sets will be published at 13:30 GMT. The
The recovery of the USD/JPY continued on Thursday, as the rate had reached the 109.00 level. In the meantime, the future of the surge of the pair was unlikely, as the pair faced three resistance levels just above the 109.00 mark. Fundamentals Crash US Dollar Since Monday, December 2, the US Dollar has been depreciating. Most likely, the Greenback is pressured
By the middle of Thursday's London trading session, the GBP/USD had reached the 1.3150 mark. If the surge continues, the rate should aim first at the 1.3200 level and afterwards at a pivot point at 1.3244. Fundamentals Crash US Dollar Since Monday, December 2, the US Dollar has been depreciating. Most likely, the Greenback is pressured by various fundamental events. Firstly, on
During the second half of Wednesday's trading, the EUR/USD was pushed up by the 55-hour SMA, which caused a piercing of the pivot point near 1.1090. On Thursday morning, the EUR/USD was still kept up by the support of the SMA, and it was expected that it would push the rate clearly through the 1.1090 level. Fundamentals Crash US Dollar Since Monday,
The surge of gold ended on Wednesday, as it approached the 1,485.00 level. The end of the surge was followed by a drop to the 1,475.00 level, where the price began to consolidate. The metal had two possible near term future scenarios, based upon whether the 1,475.00 manages to continue to provide support. Fundamentals Crash US Dollar Since Monday, December 2,
On Wednesday morning, the USD/JPY bounced off the support of a 38.20% Fibonacci retracement level at 108.44. The bounce off was part of a consolidation that was occurring in the aftermath of the recent sharp decline. The pair was expected to surge to the 108.90 level, where it would meet with technical resistance levels that would push it downwards. Fundamentals Crash US
The GBP/USD has reached the 1.3060 level, beating Tuesday's expectations. The next target for the surge was the 1.3100 level, which was expected to be reached after a period of sideways trading. At that level the rate should meet with a combination of pivot points and the psychological resistance of the 1.3100 level. Fundamentals Crash US Dollar Since Monday, December 2, the
On Wednesday, the EUR/USD remained near previous trading session levels, as it bounced between 1.1090 and 1.1080. In the meantime, the rate had been approached by the 55-hour simple moving average, which during the morning hours was located at 1.1065. Fundamentals Crash US Dollar Since Monday, December 2, the US Dollar has been depreciating. Most likely, the Greenback is pressured by various fundamental
Gold jumped on Tuesday, as this review was being written. The main reason for the surge was the fall of the US Dollar caused by EU-US trade dispute. Namely, the US retaliated against French digital tax by setting tariffs. The event was followed by an EU announcement that retaliation is upcoming. Meanwhile, from a technical perspective, the metal had no
The USD/JPY has plummeted below the 108.70 level. The fall of the US Dollar started on Monday and it was mostly fuelled by fundamentals. Among them was the weakness caused by US trade tariffs, a trade dispute with the EU, Cuban retailers moving away from using the USD and lower than expected US ISM Manufacturing PMI survey results. Economic Calendar This week
The GBP/USD has surged to new high levels and even pierced the 1.3000 level. The surge was cause by various fundamentals. Among them was the weakness caused by US trade tariffs, a trade dispute with the EU, Cuban retailers moving away from using the USD and lower than expected US ISM Manufacturing PMI survey results. Economic Calendar This week the rate might