Gold moves higher

Source: Dukascopy Bank SA


The price for gold has started to recover, as it has reached above 1,855.00. Meanwhile, prior support and resistance zones have been marked on the chart. In addition, note that the commodity might be trading in a channel up pattern, as it has been respecting an ascending resistance line that connects October high levels.

A potential decline of the commodity price is expected to look for support first in the 1,852.80/1,855.40 zone. Below the zone, take into account the 50-hour simple moving average. If the 50-hour SMA does not act as support, the metal could reach the 1,844.00/1,845.20 range.

In the case of a price surge, the bullion has to break the 1,863.15/1,865.50 zone, before approaching the late September high level zone at 1,877.40/1,879.90. However, note that the October high level trend line could slow down an upwards move.
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Wed, 11 Oct 2023 16:11:54 GMT

EUR/USD passes above 1.0600

The EUR/USD has managed to reach above the 1.0600/1.0620 resistance. During the second part of Wednesday's trading, it appeared that the range was being confirmed as support. Meanwhile, it is clear that the 50-hour simple moving average provided the needed support for the push through 1.0620. A continuation of the Euro surge against the US Dollar is expected to face

Tue, 10 Oct 2023 12:38:51 GMT

USD/JPY support and resistance are marked

Since the bounce off from the 150 mark, the USD/JPY has been trading between two zones. Support is found at 148.15/148.30. Resistance is located at 149.30/149.50. Meanwhile, it appears that the rate is ignoring the simple moving averages and the weekly simple pivot point. A move above the 149.50 mark is expected to face major resistance in the 150.00 mark.

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