EUR/USD continues to surge

Source: Dukascopy Bank SA


The EUR/USD currency pair extended its surge due to the decrease in US Producer Price Inflation, which beat down the value of the USD. By mid-Friday, the pair had reached the weekly R2 simple pivot point at 1.0732.

A move higher might encounter resistance in the 1.1100 and 1.1150 levels, prior to testing the weekly R3 simple pivot point at 1.1173.

On the other hand, a decline is expected to look for support first in the 55-hour simple moving average and the 1.1000 mark.
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Fri, 14 Apr 2023 11:25:19 GMT

GBP/USD declines after new high

The GBP/USD was about to hit the 1.2550 mark on Friday, as it started a decline. By mid-day, the rate appeared to be passing below the support of the 1.2500 mark and the 50-hour simple moving average. Below the 1.2500 mark, support might be found in the 1.2450 level and the 100 and 200-hour simple moving averages near that level.

Thu, 13 Apr 2023 10:56:18 GMT

Gold is back near 2,030.00

The lower than expected overall US inflation data was taken in by the markets as a signal that the US Federal Reserve would not continue to hike interest rates. The news caused a drop of the US Dollar. The price of gold reacted to the news with high volatility, before starting a surge. By the middle of Thursday's trading, the

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