Gold reaches below 1,650.00

Source: Dukascopy Bank SA


On Friday, the US Dollar strengthened due to the major monetary easing being set to continue in Japan. As the Dollar index gained strength, the price for gold declined. By the middle of the day, the price had reached below 1,650.00.

An continuation of the decline is expected to find support in two zones. First one is the 1,639.60/1,642.00 zone. The second one is 1,615.20/1,621.65. However, round price levels might stop a decline, before 1,620.00 would be reached.

On the other hand, a price recovery could encounter resistance in the 50 and 100-hour simple moving averages, the 1,665.00, 1,670.00 and 1,675.00 levels. Higher above, note the mid-October high level zone at 1,682.50/1,683.85.
Back to articles

Actual Topics

Wed, 02 Nov 2022 19:53:27 GMT

EUR/USD is beat down by Powell

Initially, markets saw something bearish to the USD in the Federal Reserve rate hike. The EUR/USD surged and almost reached the 1.0000 mark. However, as the Chairman of the Federal Reserve Jerome Powell hosted the Press Conference, he explained that the Federal Reserve is not about to pivot and stop the monetary tightening policy. This resulted in a drop

Fri, 28 Oct 2022 12:04:06 GMT

USD/JPY reacts to central bank

Despite the massive depreciation of the Japanese Yen and currency interventions done by the Bank of Japan, the central bank has recently announced that it would stick to its monetary easing policy. The central bank has kept its short term interest rate target at -0.1% and pledged to keep the 10-year bond yield near 0.0%. Moreover, the policymakers stated that

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.