Gold remains above 1,955.00

Source: Dukascopy Bank SA


In general, gold trades between two zones, as the traders expect an outcome to the possible US debt default. Support is provided by the 1,952.00/1,955.00 range. Resistance is encountered at 1,982.00/1,985.00. Meanwhile, short term resistance and support can be encountered n the combination of the 50 and 100-hour simple moving averages near 1,970.00.

If the price eventually passes above 1,985.00, the 2,000.00/2,010.00 range is expected to act as resistance. In regards to additional resistance, note the 200-hour SMA near 1,980.00 it could approach and strengthen the 50 and 100-hour SMAs.

On the other hand, a move below 1,952.00 might find support in the 1,950.00 mark and the late March low levels at 1,944.25 and 1,935.50. These two levels acted as support and managed to cause major surges.
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Fri, 26 May 2023 09:47:27 GMT

EUR/USD tests resistance

The EUR/USD has recently moved upwards to the combined resistance of the 50-hour simple moving average and the weekly S1 simple pivot point at 1.0740. A move above 1.0740 is expected to face resistance in the 1.0760 level and the descending 100-hour simple moving average. In the case of these levels failing, the rate's further surge could be slowed down

Thu, 25 May 2023 10:18:30 GMT

USD/JPY aims at 140.00

The USD/JPY has moved above the 139.00 mark and the weekly R1 simple pivot point at 139.18. The rate's recent surge was caused by the 100-hour simple moving average. An extension of the ongoing surge might be stopped by the 140.00 mark. Higher above, the combination of the 140.50 level and the weekly R2 simple pivot point could stop the surge

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