EUR/USD bounces off trend line

Source: Dukascopy Bank SA
During early Monday's GMT trading hours, the EUR/USD currency exchange rate bounced off the support of the lower trend line of a descending pattern. It resulted in a surge, which by the middle of the day's trading had reached above 1.1220.  

In the near term future, the rate was expected to test the resistance cluster located from 1.1234 up to 1.1246. It consists of two pivot points and the 100-hour simple moving average. If this resistance cluster fails to keep the pair down, the rate would test a combination of the 200-hour SMA and the upper trend line of the descending pattern.  

On the other hand, the rate could trade sideways between the mentioned resistance cluster and the support of the 55-hour SMA and a 38.20% Fibonacci retracement level at 1.1200.
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Mon, 22 Jun 2020 10:53:32 GMT

GBP/USD meets resistance

In the near term future, the rate is expected to once again make an attempt to pass the support of the monthly simple pivot point at 1.2346. 

Fri, 19 Jun 2020 10:12:42 GMT

XAU/USD re-tested medium-term channel

Yesterday, the XAU/USD exchange rate re-tested the lower boundary of the medium-term ascending channel. During Friday morning, the rate reversed north.

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