Gold almost hits 2,050.00

Source: Dukascopy Bank SA


The price for gold almost hit the 2,050.00 level, as the US Producer Price Index data caused a drop of the US Dollar at mid-day on Thursday. However, after two attempts to reach the round price level, the commodity started a decline. By mid-Friday, the price had almost reached back to 2,030.00.

An extension of the decline could find support in the ascending 100 and 200-hour simple moving averages or the 2,020.00 mark. However, the price should first pass below 2,030.00 and the 50-hour SMA.

On the other hand, a recovery of the price due to another fundamental shock is set to face the resistance of 2,050.00.
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Mon, 17 Apr 2023 12:36:59 GMT

EUR/USD declines below 1.1000

The EUR/USD bounced off 1.1080 and declined. By mid-Monday the rate had reached below 1.0980. Meanwhile, the 1.1000 mark was acting as resistance. A move below 1.0960 and the weekly simple pivot point at 1.0966 could look for support in the 1.0950 level and the 200-hour simple moving average. If the rate passes below 1.0950, the 1.0900 mark could

Fri, 14 Apr 2023 11:30:13 GMT

USD/JPY finds support in pivot point

The USD/JPY currency exchange rate has been observed to be finding support in the weekly simple pivot point at 132.17. Meanwhile, the 132.50 level and the 200-hour simple moving average appear to be acting as minor support and resistance. At mid-day on Friday, the pair reached above 132.50. A recovery of the US Dollar against the Yen could be slowed down

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