Gold accelerates its surge

Source: Dukascopy Bank SA


Gold was already heading higher in an ascending channel, as US fundamental news caused a drop of the US Dollar. The price for gold jumped and almost reached the 2,090.00 mark. There appears to be a resistance zone near that level. Meanwhile, support is found in the 2,080.00 level.

A breaking above 2,090.00 is bound to encounter resistance in the 2,100.00 level. In addition, note previous high levels. Zoom out or look at the daily candle chart to see potential resistance zones.

If the price passes below 2,080.00, round levels are expected to act as support. Meanwhile, note the ascending hourly moving averages near 2,050.00 and 2,060.00.
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Tue, 05 Mar 2024 15:34:13 GMT

EUR/USD still tests resistance

At exactly 15:00 GMT, the US Institute for Supply Management published its Purchasing Managers Index. The markets expected the index to show good conditions in the sector, but the actual data disappointed. Due to this reason the US Dollar sharply declined. The EUR/USD reacted to the news by resuming its attempts to move above 1.0860/1.0890 range. If the pair once

Mon, 04 Mar 2024 13:00:27 GMT

USD/JPY remains near 150.00

The USD/JPY pair failed to break the resistance f the 150.65/150.90 range. The rate has retraced and found support in the 149.85/149.95 zone. On Monday, the pair was observed to be once again approaching the 150.65/150.90 range and the weekly R1 simple pivot point at 150.87. In general, a move above this range could immediately stop at the 151.00

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