Gold plummets 2.06% due to Fed

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


At 19:00 GMT on Wednesday, the US Fed Meeting Minutes were released. The event revealed that the US monetary policy makers are more hawkish than though, as they are highly likely to hike USD interest rates. The price for gold reacted to the news by an initial sharp drop, which was followed up by a steep decline. In total, the commodity price lost 2.06% or 37.55 USD.

During the decline, the price passed various support levels until gold stopped at the 1,787.10 level. Afterwards, the price retraced to find resistance in the 1,795.00 mark.

If the price for gold properly recovers, it would first have to pass the resistance of the 1,795.00 level, before aiming at the 1,800.00 mark and the low level zone below it. Afterwards, the 50, 100 and 200-hour simple moving averages might act as resistance near 1,810.00.

However, a further decline of the rate might look for support first in the December 21 and 22 low level zone at 1,785.00/1,786.50. Further below, there is no close by support. Meanwhile, take into account that round price levels could act as support.
Back to articles

Actual Topics

Fri, 07 Jan 2022 10:34:08 GMT

EUR/JPY remains in pattern

Since the middle of Thursday's trading hours, the EUR/JPY currency exchange rate has been slowly ascending, as it was being pushed up by the channel up pattern's lower trend line. The pattern has guided the rate since December 19. At mid-day on Friday, the pair was piercing the 131.00 mark and the 50-hour simple moving average. If the Euro continues

Thu, 06 Jan 2022 18:56:44 GMT

USD/JPY reveals support and resistance

In the aftermath of the Fed Meeting Minute release, the USD/JPY currency exchange rate has revealed a resistance and support zones at 116.19/116.24 and 115.63/115.66 . During late Thursday's trading, the support zone had once again held and the rate was approaching the 50-hour SMA near 115.95 and the 116.00 mark. If the currency pair continues to surge, it would have

Subscribe to "Fundamental Analysis" feed

Abonnieren
Um mehr über die Forex/CFD Handelsplattform von Dukascopy Bank SA, sowie über den SWFX und weitere handelsbezogene Informationen zu erfahren,
rufen Sie uns bitte an oder hinterlassen Sie eine Rückrufanfrage.
Für weitere Informationen über eine mögliche Zusammenarbeit,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über die Dukascopy Bank Binären Optionen zu lernen /Forex Handelsplattform, SWFX und andere Handelsbezogenen Informationen,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über die Forex/CFD Handelsplattform von Dukascopy Bank SA, sowie über den SWFX und weitere Handelsbezogenen Informationen zu erfahren,
rufen Sie uns bitte an oder hinterlassen Sie eine Rückrufanfrage.
Um mehr über Krypto Handel/CFD/ Forex Handelsplattform, SWFX und andere Handelsbezogenen Informationen zu erfahren,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über Business Introducer und andere Handelsbezogenen Informationen zu erfahren,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Für weitere Informationen über eine mögliche Zusammenarbeit,
rufen Sie uns bitte an oder bitten Sie um einen Rückruf.