EUR/USD approaches 1.0600

Source: Dukascopy Bank SA


On Friday morning, the EUR/USD step by step continued with its recovery, as by 08:00 GMT the pair was above 1.0580.

An extension of the ongoing surge of the Euro against the US Dollar might encounter resistance in the 1.0600 mark and the weekly R1 simple pivot point at 1.0622. Note that the 1.0600 level represents a strong resistance and support level.

On the other hand, a decline of the pair is set to look for support first in the 1.0550 level. Afterwards, the 50 and 100-hour simple moving averages might act as support near 1.0500. In the case of a decline below 1.0500, the combination of the 200-hour simple moving average and the weekly simple pivot point near 1.0460.
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Fri, 09 Dec 2022 08:03:39 GMT

GBP/USD reaches above 1.2250

On Friday morning, the GBP/USD reached above the 1.2250 level, as the recovery of the Pound against the USD continued. If the 1.2250 level acts as support and causes a surge, the 1.2300 and 1.2350 levels are highly likely to act as resistance, as they stopped the last week's surge. However, a decline of the Pound against the US Dollar below 1.2250

Thu, 08 Dec 2022 18:09:05 GMT

Gold recovers to 1,795.00

The support of the 200-hour simple moving average was enough for the price of gold to move above the 50 and 100-hour simple moving averages and the 1,785.20/1,786.30 range. During Thursday's trading, the metal encountered resistance in the 1,795.00 level, before retracing to the zone, which appeared to have turned into support. A continuation of the surge of the commodity price

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