EUR/USD breaks above 1.1000

Source: Dukascopy Bank SA


The EUR/USD broke the channel down pattern due to the release of US monthly employment data causing a drop of the US Dollar's value. The following surge eventually stopped at 1.1040. On Monday, the rate was declining and had reached the combined support of the 50 and 100-hour simple moving averages near 1.0970.

A decline below 1.0970 might look for support in the 1.0935/1.0950 range, before reaching the weekly S1 simple pivot point at 1.0928. Further below, note the 1.0900 mark, the weekly S2 simple pivot point at 1.0853 and the 1.0850 level.

On the other hand, a recovery of the Euro against the US Dollar would face the 1.1000 mark and the 200-hour simple moving average, prior to testing the 1.1030/1.1045 range. Meanwhile, note that the weekly simple pivot point at 1.0987 fails to impact the pair.
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Mon, 07 Aug 2023 11:36:42 GMT

GBP/USD respects round levels

In the aftermath of the GBP/USD surge, which was caused by the US employment data weakening the USD, the currency rate has been respecting round exchange rate levels. Namely, the pair has encountered resistance as it approached 1.2800 and support is found near 1.2700. A move below 1.2700 might result in the rate looking for support in the 1.2650 level.

Fri, 04 Aug 2023 10:57:54 GMT

Gold remains above support

The price for gold remains above the 1,930.50/1,932.10 range. Meanwhile, the pair is being approached by the resistance of the 50-hour simple moving average. In general, previous scenarios are relevant. In the case of the metal passing below the support zone at 1,930.50/1,932.10 the descent could be slowed down by the lower trend line of a broad channel down pattern,

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