The yellow metal's surge has reached the 1,690.00 level. Moreover, the price has passed the resistance of a monthly pivot point at 1,667.43. In general, it was expected that the bullion's price would soon test the resistance of the 1,700.00 level. Economic Calendar Analysis During the week there are no notable events that might impact gold. However, some economic calendars have US
On Monday, the USD/JPY was approaching the support of a weekly PP and the 100-hour SMA near the 111.15 level. If this level keeps the rate up, it could once again test the 112.20 level. Economic Calendar During the week there are no notable events that might impact the currency exchange rate. However, some economic calendars have US events listed as high impact.
After reaching the 1.2980 level on Friday, the GBP/USD began a decline. By the middle of Monday's GMT trading hours, the currency exchange rate had reached the 1.2900 level. Moreover, the pair had passed most technical support levels and could decline as low as 1.2860. UK Flash PMIs The British Pound traded sideways against the US Dollar, following the
The EUR/USD started the week by trading between the support of the 55 and 100-hour SMAs near 1.0810 and the resistance of the 200-hour SMA near 1.0830. In general, it was observed that the pair could break out in either direction up or down. US Flash Manufacturing PMI The Euro appreciated against the US Dollar, following the US Flash Manufacturing PMI
The surge of the yellow metal has continued, as on Friday the 1,635.00 level was reached. During the latest surge, the commodity price passed the resistance of a monthly pivot point at the 1,628.78 level. Due to that reason the closest by technical resistance was the monthly R2 simple pivot point at the 1,667.43 level. Economic Calendar Analysis Next week there are
On Friday, the USD/JPY retraced down to the 111.50 level, where it was about to meet with the support of the 55-hour simple moving average. The 55-hour simple moving average could provide the pair with the needed support to push through the resistance of the 112.20 level. USD/JPY 2.34% surge Since Wednesday, February 19, the Japanese Yen depreciated 2.34% or 257
As expected, on Thursday the GBP/USD reached the 1.2850 level. This level provided the rate with support, and, by the middle of Friday's London trading hours, the pair had reached the resistance levels near 1.2920. In general, future forecasts were based upon what would occur at the 1.2920 level. UK Retail Sales The British Pound appreciated against the
The 55-hour SMA failed to push the rate through the support of the weekly S1 simple pivot point, which is located at 1.0788. Moreover, the currency exchange rate has managed to pass the resistance of both the 55 and 100-hour simple moving averages. FOMC Meeting Minutes The European Common Currency traded sideways against the US Dollar, following the FOMC Meeting Minutes
Since the middle of Wednesday's GMT trading hours, the yellow metal's price has been trading sideways around the 1,610.00 level. The commodity price was expected to continue to trade sideways until it would be approached by the support of the 55-hour simple moving average. Economic Calendar Analysis No more data releases that could impact gold's price are scheduled for this week.
By the middle of Thursday's trading, the USD/JPY had reached the 112.00 level. Since the middle of Tuesday's flat trading, the pair had surged more than 2.25%. The reasons for the surge were two sided. The US Dollar was gaining strength, as the US Dollar index had reached a historical high level. In the meantime, the Yen was losing value due
The 200-hour simple moving average failed to keep the rate up. Moreover, the support cluster of technical levels from 1.2900 to 1.2924 also failed. By the middle of Thursday's London trading hours, the GBP/USD currency exchange rate had reached the 1.2880 level. UK Consumer Price Index The British Pound appreciated against the US Dollar, following the UK CPI release
During the first half of Thursday's GMT trading hours, the EUR/USD traded between the support of the weekly S1 simple pivot point at 1.0788 and the 55-hour simple moving average near 1.0800. In general, it was expected that the 55-hour SMA would push the rate through the support of the pivot point, and the rate would decline. Economic Calendar Analysis This week
The 1,600.00 level has been passed by the yellow metal's price. Moreover, by the middle of Wednesday's London trading hours, the pair had reached the 1,610.00 level. In the meantime, the pair had left below it the hourly simple moving averages, which indicates that the rate is overbought. In addition, the pair broke the upper trend line of a channel
The USD/JPY continued to ignore technical levels. After passing various support levels and trading below them, on Tuesday, the rate began a sharp surge. By the middle of Wednesday's GMT trading hours the rate had jumped above the 110.40 level. In general, the surge was caused by fundamentals associated with the coronavirus, as the Japanese Yen has been abandoned as a
Despite not having any technical resistance on Tuesday, the GBP/USD did not surge. Instead, by the middle of Wednesday's trading session the rate had retreated to the 200-hour simple moving average near 1.2980. In the case of the SMA failing to provide support, the currency exchange rate could drop down to the weekly S1 simple pivot point at 1.2924. Economic
As expected, the 55-hour simple moving average has pushed the EUR/USD down to the support of the weekly S1 simple pivot point at 1.0788. By the middle of Wednesday's trading hours, the rate had begun to trade sideways near the 1.0800 level. Economic Calendar Analysis During the week there is only one notable event that could impact the EUR/USD pair. On Wednesday,
On Monday, the yellow metal ended trading sideways, as it was approached by the 55-hour simple moving average. It resulted in the pair passing the resistance of the 1,585.00 level. By the middle of Tuesday's GMT trading hours, the pair had made an attempt to reach the 1,590.00 level. Economic Calendar Analysis On Wednesday, the Federal Reserve will publish its FOMC
As expected, on Monday, the USD/JPY reached for the 110.00 level, which it almost reached. The pair shortly traded above the 109.95 level before starting a decline. By the middle of Tuesday's London trading hours, the pair had dropped down to the 109.70 level. During the decline, the rate passed three hourly SMAs, the weekly PP and the lower trend line
The GBP/USD passed the support of the 1.3000 level and reached the 200-hour simple moving average near 1.2970. Previously, this was described as one of the likely scenarios On Tuesday morning, the SMA caused a surge, which pierced various resistance levels, as the rate reached the 1.3040 level. Economic Calendar During the week, there are couple events that could impact the
On the EUR/USD hourly candle chart, it could be observed on Tuesday that the pair is being pushed down by the 55-hour simple moving average. By the middle of the day, the SMA had forced the pair into passing the support of the 1.0830 level. This indicates that the pair could decline even more. Economic Calendar Analysis During the week there is
The prior forecast for the DUK+/EUR exchange rate has become reality. Due to the influx of buy orders below the rate and the fact that sell orders were not removed, the pair has traded sideways. Meanwhile, it could be spotted that the 55-day simple moving average was catching up to the currency pair. This indicated that the pair's overbought pressure was
On Monday, the yellow metal's price was consolidating in the aftermath of attempting to pass the resistance of the 1,584.00 level. In general, the pair was expected to resume its surge as soon as the hourly simple moving averages catch up with it. Economic Calendar Analysis There are not many events that could influence the XAU/USD rate. On Wednesday, the Federal Reserve will
On Monday, the USD/JPY was set to surge. The rate was expected to reach for the resistance of the 110.00 level, as it had passed technical resistance levels that were located from 109.80 top 109.85. In the near term future, the 110.00 was expected to provide psychological resistance. Economic Calendar This week, there is only one event that could influence the USD/JPY rate. On
On Monday, the GBP/USD currency exchange rate passed the support of the 55-hour simple moving average and a monthly pivot point at 1.3020. In general, the rate was expected to look for technical support near the 1.3000 level. Economic Calendar During the week, there are couple events that could impact the GBP/USD rate. On Wednesday, at 09:30 GMT, the UK CPI is