Gold extends surge

Source: Dukascopy Bank SA


The yellow metal's price has extended its surge. The move upwards was fueled by the weakness of the US Dollar, which was caused by the worse than expected US labour data.

In regards to the near term future, the metal's price could reach for the 1,850.00 level and the February high at 1,855.00. On the other hand, the hourly simple moving averages have been left far below the price, which signals that a consolidation with sideways trading could occur.

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Tue, 11 May 2021 05:40:39 GMT

EUR/JPY bounces off support

The single European currency declined by 54 pips or 0.41% against the Japanese Yen on Monday. The decline was stopped by the 50– hour simple moving average during Monday's trading session.

Mon, 10 May 2021 11:56:09 GMT

USD/JPY recovers after Friday's drop

On Friday, May 7, the USD/JPY experiences a sharp drop at 12:30 GMT. The move was caused by the worse than forecast US labour data. The rate suffered a 81 pip drop. However, by the middle of Monday's trading hours, the pair had recovered back to the 109.00 level, where it encountered resistance. If the rate fails to pass the resistance

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