Gold reaches above 1,870.00

Source: Dukascopy Bank SA


The yellow metal's price has reached above the 1,870.00 level. Note that the surge occurred faster than expected, as the rate even broke the narrow channel up pattern, which had guided the price up since May 13.

In the near term future, the metal was expected to consolidate by trading sideways until the hourly simple moving averages catch up with it and provide the needed support for a resumption of the surge.

On the other hand, the price could decline and reach the 55-hour SMA near 1,850.00 instead of trading sideways.
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Wed, 19 May 2021 09:00:29 GMT

EUR/USD continues to surge

On Wednesday morning, the EUR/USD currency exchange rate touched the 1.2245 level. However, the rate began a retracement down in the aftermath. Potential support could be provided by the 1.2200 mark and the weekly R1 simple pivot point at 1.2201. If the rate passes the support of the 1.2200 level, the pair could reach the 55-hour simple moving average at

Tue, 18 May 2021 09:42:33 GMT

USD/JPY breaks pattern

On Tuesday morning, the USD/JPY currency exchange rate plummeted, as the rate passed the support of the 109.00 level. Moreover, the pair broke the channel down pattern, which guided the pair down since May 13. In regards to the future, the rate had no technical support. Namely, the USD/JPY could decline as low as the weekly S1 simple pivot point at

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