As expected, the yellow metal found support in the 55-hour simple moving average, which pushed the rate into another test of the resistance zone that is located above the 1,745.00 mark. By the middle of Thursday's GMT trading hours, a test of the resistance zone was ongoing. Economic Calendar Analysis Notable events for this week are over. Expect the next week's event analysis
During the second part of Tuesday's trading, the yellow metal's price reached the resistance zone just above the 1,745.00 level. The metal immediately bounced off it and retraced back down. By the middle of Wednesday's trading, the price was trading near the 1,740.00 level. Economic Calendar Analysis On Wednesday, at 19:00 GMT, the US Federal Open Markets Committee is set to publish
Last week, the yellow metal broke the resistance zone near 1,725.00 and surged above it. Afterwards, the zone was confirmed as support before the surge of the commodity price resumed. On Tuesday, the bullion's price was heading to the resistance zone above the 1,745.00 level. This zone provide the metal with resistance during the second part of March. Namely, it reversed
The support of the zone near the 1,680.00 level eventually caused a surge. It resulted in a surge, which by the middle of Thursday's trading hours had reached the 1,720.00 level. In the meantime, note the resistance cluster above the 1,721.00 level. The March 23 to 30 low level zone together with the 200-hour simple moving average had turned into a resistance. Economic
The yellow metal's price reached the support zone that surrounds the 1,680.00 level. This zone provided enough support for the price to consolidate by trading sideways above it. However, on Wednesday morning another attempt to pass it was made. The near term future scenarios were based upon whether or not the support zone holds. Due to that reason, Tuesday's forecasts remained
Gold ended the sideways trading in a twenty dollar range just after mid-day on Monday. The commodity price passed the support of the 1,722.20/1,725.30 zone. It resulted in a sharp move down, which was followed by narrow sideways trading. On Tuesday, the decline resumed, as by the middle of the day, the price had reached below the 1,690.00 level. Economic Calendar Analysis On
The yellow metal remains in the range between the two support zones that were marked last week. From above, the rate is facing resistance from 1,745.55 to 1,747.30. From below, a support zone is located at 1,722.20/1,725.30. In the meantime, it was spotted on Monday that the metal's price was being impacted for short time periods by he 55, 100 and
The yellow metal continued to trade sideways in a wide range. On Friday, analysts marked the borders of the zone. From above, the rate is facing resistance from 1,745.55 to 1,747.30. From below, a support zone is located at 1,722.20/1,725.30. Economic Calendar Analysis Next week, on Wednesday, at 13:15 GMT, the US ADP Non-Farm Employment Change is set to be released. On
Since the start of Wednesday's trading, the yellow metal has been trading between the 1,730.00 and 1,740.00 levels. In the meantime, the price is being slightly impacted by the hourly simple moving averages and the Fibonacci retracement levels of the March 18 high and the March 12 low levels. In regards to the near term future, the rate is highly likely
In a sharp move just after mid-day on Tuesday, the support of the 200-hour simple moving average was passed. However, almost immediately the rate found support in the 1,725.00 level. By the middle of Wednesday's European trading hours, the metal's price had retraced back up to the 1,735.00 level. Economic Calendar Analysis On Wednesday, at 13:45 GMT the US Services and Manufacturing PMIS
Since the middle of Monday's European trading, the commodity price has continued to be supported by the 200-hour simple moving average. In the meantime, the price almost ignored the 55 and 100-hour simple moving averages. Economic Calendar Analysis On Wednesday, at 13:45 GMT the US Services and Manufacturing PMIS could cause moves. On Thursday, the US Final GDP is set to be released
The yellow metal's surge, which was started by the support of the 200-hour SMA on Thursday, eventually found resistance. Namely, the 1,745.50/1,747.40 zone provided resistance. By the middle of Monday's trading, the commodity price had retraced down to the support 200-hour simple moving average. Economic Calendar Analysis On Wednesday, at 13:45 GMT the US Services and Manufacturing PMIS could cause moves. On Thursday, the
At mid-day on Thursday, the yellow metal's price found support in the 200-hour simple moving average and the 1,720.00 level. Afterwards, a surge followed. By the start of Friday's European trading hours, the metal had passed the resistance of the 55 and 100-hour SMAs and was testing the 1,740.00 mark. Economic Calendar Analysis On Wednesday, at 13:45 GMT the US Services and Manufacturing
As the yellow metal's price was looking for support in the 100-hour SMA in the aftermath of breaking out of the ascending triangle pattern, the Federal Reserve made an announcement. Namely, the stimulating US monetary policy would remain intact. It caused high volatility with an initial surge to the 1,750.00 level and afterwards the 1,755.00 level. It was followed up by
On Wednesday morning, the support of the 55-hour simple moving average reached the yellow metal's price. Previously, on Tuesday, the rate bounced off the resistance of the 1,740.00 mark. In the meantime, a pattern has been spotted on the chart. In the meantime, a pattern has been spotted on the chart. Economic Calendar Analysis On Wednesday, the US Federal Reserve is set to
Since the start of this week's trading, the price for gold has remained near the 1,730.00 level. However, on Tuesday morning, the rate had shortly pierced the resistance of the 1,735.00 level. Moreover, it was not retracing down to the support of the 55-hour simple moving average near 1,724.00. Economic Calendar Analysis On Tuesday, at 12:30 GMT expect the US Retail Sales and
The price for gold has recovered due to finding support in the 1,700.00 level. By the middle of Monday's trading hours, the commodity price had reached the 1,735.00 level. In the meantime, support was provided by the 55-hour simple moving average near the 1,720.00 level. Economic Calendar Analysis On Tuesday, at 12:30 GMT expect the US Retail Sales and Core Retail Sales
The yellow metal found resistance in the 1,740.00 level, which was enough for it to decline. The decline was only slowed down by the 55-hour simple moving average. However, eventually the SMA failed. By mid-day on Friday, the metal had reached the 1,700.00 mark. Economic Calendar Analysis On Tuesday, at 12:30 GMT expect the US Retail Sales and Core Retail Sales data.
The most important fact to mention in regards to gold is that it has broken the upper trend line of the pattern, which guided it down since early February. This indicates that the decline of the metal could be over and a recovery is starting. Economic Calendar Analysis The notable data releases for this pair this week are over. Next week's events
As it was speculated on Tuesday, the yellow metal was impacted by round price levels before reaching the 200-hour simple moving average. Namely, the 1,710.00 and 1,720.00 levels provided the commodity price with both support and resistance. In the meantime, on Wednesday, the price was being approached by the mentioned SMA. Economic Calendar Analysis On Wednesday, the US Consumer Price Index data could
The yellow metal's price found support in the 1,680.00 level before starting a recovery. At mid-day on Tuesday, the commodity price passed the resistance of the 100-hour simple moving average near the 1,700.00 mark. Due to that reason, the metal had no technical resistance as high as the 200-hour simple moving average at 1,727.45. Economic Calendar Analysis On Wednesday, the US Consumer Price
During early Monday's trading, the metal made a failed attempt at surging. The attempt was stopped by the resistance of the 100-hour simple moving average. By the middle of the day, the price had returned to the 1,690.00 level's support. Economic Calendar Analysis On Wednesday, the US Consumer Price Index data could cause a minor move on USD assets at 13:30 GMT. Click
The yellow metal has retreated to trade sideways below the 1,700.00 level. Namely, it continues to trade sideways in an almost ten dollar range by fluctuating between the 1,690.00 and 1,700.00 levels. It changed the spot of trading sideways during the speech of the Chairman of the US Federal Reserve, which strengthened the US Dollar. Economic Calendar Analysis On Friday, at 13:30
Since the middle of Wednesday, the yellow metal has traded between the 1,710.00 and 1,720.00 levels. In the near term future, the metal could be pushed down by the resistance of the 55 and 100-hour simple moving averages. Economic Calendar Analysis On Wednesday, the US ADP Non-Farm Employment Change at 13:15 GMT will be on the headlines. On the same day, at