Gold declines to 1,655.00

Source: Dukascopy Bank SA


In general, the price for gold has been almost flat. On Thursday, the price descended below the 50-hour simple moving average and touched the 1,655.00 level.

If the price for gold continues to decline, the 1,655.00 level and the 100-hour simple moving average are the first levels, which could act as support. Further below, the 1,650.00 mark is being strengthened by the 200-hour simple moving average.

On the other hand, a recovery of the commodity price is set to encounter resistance in the 1,670.00 level, before reaching the 1,678.75/1,683.85 range, where the early October high level zone is located at.
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Fri, 28 Oct 2022 11:37:31 GMT

EUR/USD breaks pattern

Despite initially holding, the support of the lower trend line of the channel up pattern and the 1.0000 mark failed. By the middle of Friday's trading, the pair had reached below 0.9950. A decline of the Euro against the US Dollar could look for support in the 0.9900 mark and the 200-hour simple moving average. Further below take into account

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