Gold reaches support line

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On Monday, the price for gold continued to decline, as the commodity price reached the lower trend line of the channel down pattern, which has guided the metal down since April 18. In addition, it was spotted that the price has been in a smaller scale descending pattern since May 5.

At mid-day, the price had recovered and appeared to have found resistance in the 1,810.00/1,817.40 zone. Meanwhile, the zone was being approached by the 50-hour simple moving average. A move above this resistance zone, is expected to encounter resistance in the upper trend line of the smaller scale channel down pattern near 1,825.00, before reaching the 100-hour simple moving average at 1,830.00.

In the case of a decline, the price would look for support in the 1,800.00 mark, which was spotted to be acting as support already at mid-day on Monday. Below the round price level, note the lower trend line of the larger scale channel down pattern.

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Tue, 17 May 2022 10:37:13 GMT

EUR/JPY recovery reaches 136.00

The recovery of the Euro against the Japanese Yen has continued, as by the middle of Tuesday's European trading hours, the currency pair had reached the 136.00 mark. A move above the 136.00 mark is set to encounter resistance in the 200-hour simple moving average at 136.20, prior to approaching the 136.50/136.60 zone. The zone acted as support during

Mon, 16 May 2022 13:16:09 GMT

USD/JPY reaches resistance

During the first half of Monday's trading hours, the USD/JPY currency pair made two attempts at passing the resistance zone of the May 10 and 11 low levels at 129.49/129.80. A move above the 129.80 level could encounter resistance in the 130.00 mark, before reaching the 130.50/130.60 zone. Higher above, note the 131.00/131.33 levels. Meanwhile, the 129.80 level is set

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