Gold reacts to fundamentals

Source: Dukascopy Bank SA


On Thursday, the US Dollar strengthened due to better than expected US Unemployment Claims and ADP Non-Farm Employment data. This resulted in a decline of the price of gold down to the support of the 1,825.00 level. The support was enough to cause a recovery up to the 1,840.00 level.

A move above 1,840.00 is expected to test the resistance of the 1,850.00 level and the 50-day simple moving average. Higher above, the 1,865.00 is expected to once again act as resistance.

However, a decline of the commodity price is expected to find minor support in the December high level at 1,833.20 and the 1,830.00 level, prior to once again looking for support in the 1,825.00 level.
Back to articles

Actual Topics

Tue, 10 Jan 2023 13:57:57 GMT

EUR/USD trades above December high

From a technical perspective the support of the 1.0500 has held and caused a surge. However, the recent surge has been attributed to the US employment data release on Friday at 13:30 GMT, which caused a broad USD decline. By the start of this week, the pair had reached and was testing the resistance of the 1.0750 level. In the

Fri, 06 Jan 2023 12:05:30 GMT

USD/JPY reaches 134.50

On Thursday, the US Dollar strengthened due to better than expected US Unemployment Claims and ADP Non-Farm Employment data. The following surge had reached the late December high level zone 134.50. A move above the resistance zone could be slowed down by the 135.00 and 135.50 levels. Higher above, note the weekly R3 simple pivot point at 135.84. On the other

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.