Gold returns to 1,955.00

Source: Dukascopy Bank SA


The price for gold has bounced off a resistance range at 1,982.40/1,984.00. By mid-Tuesday, the commodity price had reached the 1,951.90/1,954.40 range.

A move below the 1,951.90/1,954.40 range might result in the metal's decline being almost being stopped by the 1,950.00 mark and the January high at 1,949.00. Further below, the 1,945.00 and 1,935.00 levels could stop a decline, as they have in late March.

Meanwhile, a potential recovery is expected to be slowed down by the February high at 1,960.00. The level recently acted as support and resistance, during Tuesday's early trading. A move above 1,960.00 could encounter resistance in the combination of the 50 and 100-hour simple moving average, before the price reached the 1,982.40/1,984.00 range.
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Wed, 24 May 2023 08:35:23 GMT

EUR/USD recovers from support zone

The EUR/USD has found support in the support zone at 1.0760. On Wednesday, a recovery was taking place and testing the resistance of the 50 and 100-hour simple moving averages near 1.0795. A move above the simple moving averages and the 1.0800 mark is expected to approach the 1.0820 level. Above 1.0820 resistance is provided by the weekly simple

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