Gold finds support

Source: Dukascopy Bank SA


The decline from the 2,450.00 level was larger than any short sellers expected, as on Friday the price was below 2,330.00. However, this week, the metal started to recover, as the short selling did not continue further below 2,330.00.

An extension of the ongoing recovery is set to face resistance in round price levels, as they have been impacting the metal on its way down. In addition, the 100 and 200-hour simple moving averages could act as resistance, before the 2,400.00 is reached once again.

In the case of the metal resuming the prior decline, the 2,330.00 level might act as support, prior to the price declining to 2,300.00
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Wed, 29 May 2024 14:10:59 GMT

EUR/USD bounces off from 1.0875/1.0885

On Monday the pair was once again approaching the 1.0875/1.0885 range. The range held and caused another decline of the pair that on Wednesday reached below the combination of the hourly moving averages and the weekly simple pivot point. If the pair recovers, it might face resistance combination of the 50, 100 and 200-hour simple moving averages and the weekly

Mon, 27 May 2024 14:13:47 GMT

USD/JPY trades around 157.00

The pair has moved a bit higher by advancing above 156.00/156.30. Since Friday, the pair has been fluctuating around the 157.00 level, waiting for new fundamentals or approaching technical levels to push it higher. A resumption of the prior surge of the Dollar against the Yen is set to face the 157.50 level and the weekly R1 simple pivot point

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