Gold surges after Fed statement

Source: Dukascopy Bank SA


The price for gold has fluctuated due to changes in market demand for the US Dollar not due to changes in the perceived value of gold as a commodity. Namely, at 19:00 GMT on Wednesday, the price dipped as the USD initially gained value due to the reveal that monetary stimulus would be reduced. However, as the markets realized that the remaining stimulus would still dilute the value of the USD, a surge began.

By the middle of Thursday's European trading hours, the price had reached above the 1,785.00 level.

A continuation of the surge would most likely test the resistance of the December high levels at 1,791.80/1,793.40. Higher above, the 1,800.00 mark was expected to act as resistance.

Meanwhile, a decline of the commodity might find support in the 100 and 200-hour simple moving averages at 1,780.00. Below the 1,780.00 level, note the 50-hour SMA near 1,775.00.
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Fri, 17 Dec 2021 08:01:56 GMT

EUR/JPY reacts to ECB statement

The EUR/JPY currency exchange rate was surging on Thursday, as it reached above the 129.60 mark during the second half of the day's trading. However, at 13:30 GMT, the European Central Bank press conference started, during which information was revealed that beat down the value of the Euro. By 16:00 GMT, the rate had reached the 128.45 level, where

Thu, 16 Dec 2021 11:24:38 GMT

USD/JPY jumps on Fed announcement

The USD/JPY currency exchange rate pierced the resistance zone of 113.88/113.96, as the US Federal Reserve revealed that it would decrease stimulus. Although, the surge stopped at the 114.28 level. Take into account that the USD/JPY is the only of the top pairs, where the initial surge of the USD caused by the Fed was not followed up by a

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