Gold finds support in moving average

Source: Dukascopy Bank SA


The decline of the metal's price has found support in the 100-hour simple moving average. Since finding support, up to mid-Monday, the rate fluctuated near the 1,940.00 level.

In the case of the 100-hour simple moving average pushing the commodity price up, resistance could be found in the 1,950.00 mark and the upper trend line of the channel up pattern.

However, if the 100-hour SMA fails to act as support once again, the price could look for support first in the 1,935.00 level. Afterwards, take into account the 1,930.00/1,932.25 support range.
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Tue, 05 Sep 2023 15:31:33 GMT

EUR/USD passes below support

The 1.0800 mark provided enough resistance to keep the EUR/USD down until the 50-hour simple moving average approached and caused a decline. The rate passed below the 1.0766/1.0771 range. By mid-Tuesday the currency pair was heading to the 1.0700 mark. Note that the 1.0700 level was strengthened by the lower trend line of the channel down pattern. A potential recovery

Mon, 04 Sep 2023 11:38:58 GMT

USD/JPY tests resistance zone

The recovery from the 144.50 mark has encountered resistance in the 146.30/146.60 range. If the USD/JPY reaches above the 146.60 level, the rate could be slowed down by the 147.00 mark, before the 147.23/147.36 August high level range. On the other hand, a possible decline of the US Dollar against the Yen could look for support in the 146.00

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