Gold resistance turn into support

Source: Dukascopy Bank SA


The 2,035.00/2,040.00 range has been broken. Moreover, the prior resistance has turned into support. At the start of the month, the commodity price reached above 2,050.00, which also appeared to have acted as support.

An extension of the ongoing surge could suddenly reveal a round price level as resistance. Meanwhile, note the upper trend line of the yet unconfirmed channel up pattern near 2,065.00/2,070.00.

On the other hand, a decline of the price is set to look for support in the 2,050.00 mark, before the 2,035.00/2,040.00 zone and the hourly moving averages come into play.
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Mon, 04 Mar 2024 12:31:07 GMT

EUR/USD approaches resistance

Since February 21, EUR/USD pair continues to find support in the range near 1.0800. Meanwhile, resistance is provided by the 1.0860/1.0890 range. On Monday, the pair approached the resistance range. If the pair once again bounces off the 1.0860/1.0890 range, support could be found in the combination of the 50, 100 and 200-hour simple moving averages near the weekly simple

Fri, 01 Mar 2024 13:28:05 GMT

USD/JPY continues to test resistance

Despite the drop to 149.20 that was caused by fundamental events, the USD/JPY has returned to the resistance of the 150.65/150.90 range. A potential surge would have to break the 150.65/150.90 range, before testing the resistance of the weekly R1 simple pivot point at 150.93 and the 151.00 level. Higher above, the weekly R2 simple pivot point at 151.39 and

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