EUR/USD breaks resistance

Source: Dukascopy Bank SA


The Euro has received an additional boost, as inflation in Germany has reached a new record high, being revealed to be above 10.00%. The event boosted the Euro, as the markets took in the news as pressure on the European Central Bank to increase monetary tightening.

On the technical charts the event occurred as a test and afterwards breaking of the 0.9750 level's resistance. By the end of Thursday's trading, the pair had reached the 0.9850 level, which provided resistance.

A decline of the Euro against the US Dollar might find support in the combination of the 0.9750 level and the 50 and 200-hour simple moving averages. Further below, note that the 0.9700 and 0.9650 levels and the 100-hour simple moving average might act as support, before September low levels would be reached.

Meanwhile, a surge of the pair would have to break the 0.9850 level, before testing the 0.9865/0.9875 zone, the 0.9900 level and the weekly R1 simple pivot point at 0.9937.
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Fri, 30 Sep 2022 10:47:09 GMT

GBP/USD reveals pattern

The surge of the Pound against the US Dollar appears to have occurred in a wide range channel up pattern. Since late Thursday's European trading hours, the currency pair was testing the resistance of the channel. The resistance line is crossing the 1.1200/1.1250 range. In addition, the resistance line was being strengthened by the weekly R1 simple pivot point and

Thu, 29 Sep 2022 12:43:03 GMT

USD/CAD respects round levels

Throughout this week, the USD/CAD currency pair has been respecting the resistance of the 1.3800 mark and a zone just above it. Meanwhile, support has been provided by the 1.3600 and 1.3650 levels. A move above 1.3800 could encounter resistance in the 1.3850 level and the weekly R2 at 1.3858. On the other hand, a decline below 1.3600 might find

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