EUR/USD decline continues

Source: Dukascopy Bank SA


The resistance of the 200-hour simple moving average was enough for the EUR/USD to resume its decline. The decline was slowed down only by the combination of the 50 and 100-hour SMAs and the weekly S1 simple pivot point at 1.0486. On Tuesday, the pair reached the 1.0450 level.

The decline of the Euro against the US Dollar is expected to continue. Support could be found in the 1.0450 level and the lower trend line of the channel down pattern.

On the other hand, a recovery of the currency pair is set to face resistance in the weekly S1 simple pivot point at 1.0486 and the 1.0500 mark. Higher above, note the combination of the 50 and 100-hour simple moving averages.
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Tue, 03 Oct 2023 14:21:03 GMT

GBP/USD reaches below 1.2100

The GBP/USD has continued its decline and reached below the 1.2100 mark. Moreover, on Tuesday the 1.2100 level appeared to have turned into resistance. A continuation of the ongoing decline could look for support in the lower trend line of the channel down pattern and the weekly S2 simple pivot point at 1.2031. In the case of a GBP recovery against

Fri, 29 Sep 2023 10:22:36 GMT

Gold finds support

As it was speculated, the price for gold found support in a round price level. That level turned out to be the 1,860.00 level. The support was enough to cause a recovery up to the resistance of the 50-hour simple moving average and the 1,875.00 level. A move above 1,875.00 could result in the commodity price almost immediately encountering resistance

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