Gold extends surge

Source: Dukascopy Bank SA


The yellow metal's price has continued to surge in the channel up pattern. Moreover, it made attempts at passing the resistance line of the pattern. However, on Monday, the metal failed and retreated to the support of the zone near the 1,845.00 level.

If the 1,845.00 zone provides support, the bullion's price should most likely resume its surge in the borders of the channel up pattern. Note that a potential surge would need to pass the 1,855.00 level, which reversed the price's February surge.

On the other hand, a passing of the 1,845.00 zone's support and breaking of the channel up pattern could result in a decline to the 1,835.00 mark, which could be strengthened by the 55 and 100-hour simple moving averages.
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Tue, 18 May 2021 06:09:00 GMT

EUR/JPY supported by 50– hour SMA

The common European currency declined by 41 pips or 0.31% against the Japanese Yen on Monday. The decline was stopped by the 50– hour simple moving average during yesterday's trading session.

Mon, 17 May 2021 12:50:23 GMT

USD/JPY declines more than expected

Two recent low levels booked by the USD/JPY currency exchange rate have revealed that the lower trend line of the channel down pattern is located at a different level. However, the rate has still continued to respect the upper trend line of the pattern and declined. In the meantime, note that the 55-hour simple moving average has been providing resistance to

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