Gold breaks ascending pattern

Source: Dukascopy Bank SA


On Tuesday afternoon, the price for gold broke the upper trend line of the channel up pattern and reached the September high levels near 1,730.00. The 1,730.00 level acted as resistance and caused a price decline.

An extension of the decline of the price for gold could look for support in the 1,700.00 mark and the 50-hour simple moving average. Further below, note the 1,685.00 and 1,680.00 levels.

On the other hand, a resumption of the commodity price surge is highly likely set to face the 1,730.00 level, before approaching the 1,750.00 level and the late August high at 1,765.10.
Back to articles

Actual Topics

Wed, 05 Oct 2022 10:51:10 GMT

EUR/JPY surge encounters resistance

The surge of the Euro against the Japanese Yen has encountered resistance in a zone just above the 144.00 mark. On Wednesday morning, the resistance was enough to cause a decline. By the middle of the day's trading, the pair appeared to be heading to the 143.00 level. The rate's decline is expected to look for support in the 143.00

Wed, 05 Oct 2022 08:33:43 GMT

USD/JPY almost reaches 143.50

The USD/JPY extended its decline on Tuesday and by midnight to Wednesday the pair almost reached the 143.50 level, before a recovery started. By the middle of Wednesday's trading, the pair had reached the combined resistance of the 144.50 level and the 50 and 100-hour simple moving averages, which appeared to have resumed to have an impact. A move above 144.50

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX 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.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
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.