Gold remains in previous range

Source: Dukascopy Bank SA


The resistance of the 2,000.00 mark has held and caused another decline. By late Monday's trading hours, the commodity price had reached below 1,950.00. During the decline, the price ignored the support of the 50, 100 and 200-hour simple moving averages and the January and February high levels.

A continuation of the ongoing decline is expected to find support in the last week's low level zone at 1,934.30/1,937.15. Further below, note that the 1,910.00 and 1,920.00 levels could act as support, before the price hits the 1,900.00 mark.

However, another surge in risk off sentiment in the market would boost the metal's price. In the case of a surge, the price is bound to test resistance of the 2,000.00/2,010.00 zone.
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Tue, 28 Mar 2023 12:24:16 GMT

EUR/USD continues higher

On Tuesday, the EUR/USD continued higher, as it approached 1.0850. An extension of the ongoing decline might encounter resistance in the 1.0850 and 1.0900 levels, prior to testing the combined resistance of the weekly R1 simple pivot point at and the 1.0910/1.0930 range. On the other hand a decline of the Euro against the US Dollar might look for support

Mon, 27 Mar 2023 19:16:46 GMT

USD/JPY extends recovery

The USD/JPY recovery from the 130.00 mark has continued. By the late trading hours of Monday's trading, the pair had reached the 200-hour simple moving average near 131.80. In the case of the pair piercing the 200-hour SMA and the 132.00 level, a surge up to the 132.50 level and the weekly R1 simple pivot point at 132.59 might take place.

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