Gold breaks pattern

Source: Dukascopy Bank SA


The yellow metal's price has broken the descending wedge pattern and almost immediately dropped to the 1,720.00 level. However, afterwards a recovery started and on Monday morning, the price was once again located near the 1,760.00 level.

In the near term future, the price was expected to reach for the resistance of the 55-hour simple moving average near 1,770.00 and afterwards the 100 and 200-hour SMAs near 1,785.00.

If the 55-hour SMA provides resistance, the rate could decline back to the 1,720.00 mark.
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Mon, 01 Mar 2021 08:40:30 GMT

NZD/USD breakout occurs

Downside momentum pressured the New Zealand Dollar against the US Dollar on Friday. The NZD/USD exchange rate declined by 145 pips or 1.97% during Friday's trading session.

Mon, 01 Mar 2021 08:06:19 GMT

USD/CAD breaks channel pattern

Upside risks dominated the US Dollar against the Canadian Dollar on Friday. As a result, a breakout through the upper boundary of a descending channel pattern occurred during Friday's trading session.

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