Gold passes below support

Source: Dukascopy Bank SA


On Wednesday morning, the price for gold passed below the 50 and 100-hour simple moving averages, the lower trend line of a channel up pattern and the 1,930.00 mark. Essentially, the price had declined due to bouncing off a resistance zone at 1,939.30/1,942.30.

An extension of the decline could look for support in the 1,920.00 level and the 200-hour simple moving average. Further below, note that the 1,915.00 level has acted as support.

On the other hand, a recovery of the commodity price could encounter resistance near 1,930.00. Higher above, note the 1,939.30/1,942.30 zone.
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Thu, 26 Jan 2023 10:48:45 GMT

EUR/USD tests resistance zone

On Thursday, the EUR/USD approached the 1.0920/1.0925 zone, which once again acted as resistance. The following decline reached the 50-hour simple moving average and the 1.0900 mark. A move below the 50-hour SMA might look for support in the 100-hour simple moving average near 1.0880, Further below note the combination of the 200-hour SMA and the 1.0850 level. Below these

Wed, 25 Jan 2023 10:19:58 GMT

USD/JPY breaks pattern

The lower trend line of the channel up pattern kept the USD/JPY up for 17 hours straight. On Wednesday, at 09:00 GMT, the currency pair passed below the trend line and a sharp decline had started. By 10:00 GMT, the pair had reached below 130.00. The ongoing decline is expected to look for support in the combination of the 100 and

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