EUR/USD respects moving averages

Source: Dukascopy Bank SA


The EUR/USD eventually passed below the support of the 100-hour simple moving average near 1.0490 and the weekly simple pivot point at 1.0456. However, on Wednesday morning, the pair found support in the 200-hour simple moving average near 1.0440. In addition, it appears that the 1.0450 level acted as support.

By the middle of Wednesday's trading, the rate had recovered and was finding resistance in the combination of the 50 and 100-hour simple moving averages and the 1.0500 mark.

A move above 1.0500 might encounter resistance in the 1.0550 level. However, the EUR/USD previously ignored this level. It is more likely that the pair approaches the 1.0600 mark.

Meanwhile, a potential decline of the pair is once again set to look for support in the weekly simple pivot point at 1.0456, the 1.0450 level and the 200-hour simple moving average near 1.0445. Further below, note that the 1.0400 mark or the weekly S1 simple pivot point at 1.0367 could act as support.
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Wed, 07 Dec 2022 11:26:42 GMT

GBP/USD extends decline

The weekly simple pivot point at 1.2162 eventually failed to keep the pair up and on Wednesday morning the GBP/USD almost reached the 1.2100 level. However, by mid-day the rate had recovered and reached the 1.2180 level, where resistance was provided by the 50-hour simple moving average. A move above 1.02180 might immediately encounter resistance in the 1.2200 level, the 100-hour

Tue, 06 Dec 2022 09:51:07 GMT

Gold finds support in 200-hour SMA

The price for gold eventually declined, as a broad asset sell off occurred on Monday. The decline passed below both support zones near 1,795.00 and 1,785.00. Eventually, the decline ended, as the commodity price found support in the 1,764.00/1,766.15 range. On Tuesday morning, the range was strengthened by the 200-hour simple moving average, which appeared to be pushing the price

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