EUR/USD recovers from support zone

Source: Dukascopy Bank SA


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 pivot point at 1.0822, the 1.0825/1.0830 zone and the 200-hour simple moving average. Even higher, take into account the weekly R1 simple pivot point at 1.0884.

However, a decline of the Euro against the US Dollar is set to look for support at 1.0760. Below this level take into account the weekly S1 simple pivot point at 1.0740, the 1.0700 mark and weekly S2 1.0678.
Back to articles

Actual Topics

Wed, 24 May 2023 09:04:41 GMT

GBP/USD reacts to UK CPI

On Tuesday, GBP/USD found support in the weekly S1 simple pivot point at 1.2373 and recovered as high as the 1.2450 mark, before the United Kingdom Consumer Price Index data was released. The inflation data caused an increase of volatility with an initial spike to the resistance zone at 1.2470/1.2485 and a follow up decline that almost reached 1.2400. A resumption

Tue, 23 May 2023 10:15:46 GMT

Gold returns to 1,955.00

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

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.