Gold books new low

Source: Dukascopy Bank SA


The price of gold declined to the 1,955.00 level during the prior week. However, on Friday, a recovery started and the price reached back up to 1,980.00 levels.

An extension of the recovery of the commodity price might encounter resistance in the 2,000.00/2,010.00 range and the 200-hour simple moving average. Above the resistance zone take into account round levels that have acted as support and resistance.

However, a decline of the commodity price might look for support in the 50-hour SMA and 1,960.00 mark, before reaching the recent low level zone near 1,955.00.
Back to articles

Actual Topics

Tue, 23 May 2023 09:33:43 GMT

EUR/USD retreats below 1.0800

The EUR/USD has bounced off the resistance zone at 1.0825/1.0830 and declined below 1.0800 level. Moreover, the pair has passed the support of the 55-hour simple moving average. An extension of the ongoing decline might result in the pair once again looking for support in the 1.0760 level. Further below, the weekly S1 could act as support at 1.0740,

Mon, 22 May 2023 08:54:54 GMT

USD/JPY breaks ascending pattern

The sharp surge of the US Dollar against the Japanese Yen ended on Friday at mid-day. On that day the Chairman of the US Federal Reserve Jerome Powell spoke at an event with the ex-Chairman Bernanke. The comments made by the two caused a run to safety. From a technical perspective, the pair broke the channel up pattern and declined

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.