EUR/USD waits for ECB

Source: Dukascopy Bank SA


The EUR/USD continues to fluctuate between a support zone near 1.0800 and the resistance of the 1.0875/1.0885 range. It appears that the pair could fluctuate in this range until the publication of the European Central Bank Main Refinancing Rate and Monetary Policy Statement. When the monetary policy is revealed, the rate is set to reveal its direction.

A move above the 1.0875/1.0885 zone, resistance could be providd by the weekly R1 simple pivot point at 1.0893 and the 1.0900 level. Higher above, note the weekly R2 at 1.0942 and the 1.0950 level, which might slow down the surge, before the 1.1000 mark is tested.

On the other hand, a decline has to first pass the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.0840. Further below, the 1.0800/1.0790 range and the weekly S1 at 1.0792 are set to act as support.
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Mon, 03 Jun 2024 14:25:36 GMT

GBP/USD has support from 1.2700

Despite passing below 1.2700, the GBP/USD has not declined, as support was found in the 1.2680 level. This level managed to force the pair to trade back above 1.2700. On Monday, the publication of the US ISM Manufacturing PMI caused a surge of the rate and it was set to once again test the 1.2800 mark. A move above the

Wed, 29 May 2024 15:02:30 GMT

Gold is back at support

The recovery of gold stopped at 2,360.00. The level held and caused a decline back to the 2,326.60/2,334.40 range that has acted as support. A recovery of the metal's price has to reach above 50 and 100-hour simple moving averages near 2,350.00 and the 2,360.00 mark. Higher above, the 200-hour SMA might act as resistance near 2,380.00, before teh 2,400.00

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