XAU/USD 1H Chart: Broadening Ascending Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Gold has been rising since the UK referendum on the membership in the EU. However, it still is volatile and the boundaries of the bullions volatility have been moving in an ascending wedge pattern. At the moment, the price of the commodity is at 1,360 by 10:00 GMT, and it is struggling with the weekly pivot point at 1,359.35, before it will be moving towards the pattern's lower trend line at 1,352.56. In addition, by the time the metal reached the trend line, the line might be also supported by the 200-hour SMA. If the rate rebound, it will likely surge to the resistance cluster made up of weekly and monthly R1 respectively at 1,382.99 and 1,385.20. In addition, a upward movement is supported by the fact that the commodity might be oversold, as 66% of open SWFX positions are short.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 12 Jul 2016 06:45:16 GMT

AUD/NZD 30M Chart: Channel Up

Despite a strong sell-off in the second half of the previous week, AUD/NZD managed to stabilise on Friday near 1.0320 and began a recovery. Later on the rise developed into a channel, and now we expect the pair to confirm the lower bound of the pattern at 1.0440 and start a new bullish wave. The positive outlook is further strengthened

Mon, 11 Jul 2016 11:48:13 GMT

EUR/JPY 1H Chart: Double Bottom

The common European currency is just out of a double bottom pattern against the Japanese Yen, as the reversal of the trend has occurred, and it indicates that the currency exchange rate is going north. At the moment, the currency pair is at 112.74 by 10:00 GMT and it is moving towards the 200-hour SMA at 112.99, which might hinder

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.