EUR/USD trades near 1.0500

Source: Dukascopy Bank SA


The EUR/USD has passed the support of the 50-hour simple moving average and the 1.0500 mark. Moreover, the recent channel up pattern was broken. On Tuesday morning, the currency pair was finding support in the 100-hour simple moving average near 1.0480.

A decline below the 100-hour simple moving average might look for support in the combination of the weekly simple pivot point at 1.0456 and the 1.0450. Further below, note the 200-hour simple moving average near 1.0435. The SMA could approach 1.0450 and provide additional support. In the case of the 1.0450 being passed, note the 1.0400 mark and the weekly S1 simple pivot point at 1.0367.

On the other hand, a resumption of the Euro's recovery against the US Dollar is highly likely set to encounter resistance in the 50-hour simple moving average near 1.0520 and the 1.0550 level, before approaching the 1.0600 mark.
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Tue, 06 Dec 2022 08:59:42 GMT

GBP/USD respects pivot point

The retracement downwards of the Pound against the US Dollar found support in the weekly simple pivot point at 1.2162. On Tuesday morning, the pair was approached by the 100-hour simple moving average near 1.2180 and it appeared to have started to push the pair up. A surge of the Pound against the US Dollar might encounter resistance in the 1.2250

Mon, 05 Dec 2022 08:59:52 GMT

Gold remains near 1,800.00

In general, the price for gold has increased volatility due to US fundamental events. Namely, the US employment data caused a drop below the support ranges near 1,795.00 and 1,785.00. However, a recovery followed, which reached the resistance of the 1,810.00 level on Monday morning. A decline of the price for gold might look for support in the 1,794.00/1,795.85 and

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