Gold attempts to approach 2,000.00

Source: Dukascopy Bank SA


The price for gold has been recovering since the US revealed lower than expected inflation that in turn weakened the US Dollar's value. Recently, the price has approached levels close to the 2,000.00 mark. On Monday, the commodity price was trading around the 1,980.00 level. By mid-Tuesday, it made an attempt to surge and reached 1,995.00.

A move above 1,995.00 is set to face the 2,000.00 mark, before reaching the resistance of the 2,010.00 level. Higher above, the 2,040.00 and 2,050.00 levels have managed to impact the price.

On the other hand, a decline of the commodity price is set to look for support in the combination of the 50 and 100-hour simple moving averages and the 1,980.00 mark. Below these levels, note the lower trend line of the channel up pattern that ahs guided the rate up during mid-November.
Back to articles

Actual Topics

Wed, 22 Nov 2023 11:05:21 GMT

EUR/USD returns to 1.0900

The reaction to the release of the Federal Reserve Meeting Minutes was minor. Meanwhile, the pair confirmed the 1.0950/1.0965 range as resistance. By mid-Wednesday, the rate had reached the 1.0900 mark and the 100-hour simple moving average, which appeared to be failing to act as support. An extension of the decline could result in the EUR/USD looking for support in

Tue, 21 Nov 2023 12:46:33 GMT

USD/JPY extends decline

The USD/JPY has moved even lower, as the rate has reached below 147.50. The round level appears to be acting as an attracting magnet not a support or resistance. Further below, note that round levels might turn into support, before the pair reaches the combination of the 147.70 level and the weekly S3 at 145.79. However, a potential recovery of

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.