EUR/USD reacts to fundamentals

Source: Dukascopy Bank SA


Throughout this week, the EUR/USD traded in accordance with US data releases. Most of action occurred in reactionary moves. As the releases are over, technical reviews are back in favour.

On Friday, after the last notable events, the EUR/USD was looking for support in the weekly simple pivot point at 1.0829. Meanwhile, resistance was encountered in the 50-hour simple moving average near 1.0878.

A move below 1.0829 might result in the pair looking for support in the 1.0800 mark, before it reaches the last week's and August low level at 1.0766. This level acted as support on August 25 and caused the recent recovery.

On the other hand, a recovery of the pair would have to break the combination of the 50-hour simple moving average, the weekly R1 simple pivot point at 1.0892 and the 1.0900 mark. Higher above, note the resistance range at 1.0930/1.0950.
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Actual Topics

Fri, 01 Sep 2023 14:26:47 GMT

GBP/USD bounces off 1.2750

During the week of notable US data releases the GBP/USD surged to the resistance of the 1.2750 level. The resistance was enough to cause a decline, which on Friday was passing below the weekly simple pivot point at 1.2640. An extension of the ongoing decline could look for support in the 1.2620 and 1.2600 levels. Further below, note the 1.2545/1.2565

Wed, 30 Aug 2023 09:17:04 GMT

Gold consolidates above 1,935.00

The surge of the metal's price paused just before reaching the upper trend line of the channel up pattern. Since the event, the commodity price has been consolidating just above the support of the 1,935.00 level. In general, forecasts remain unchanged. The price is set to test the combined resistance of the upper trend line of the channel pattern that

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