Gold ends decline and recovers

Source: Dukascopy Bank SA


The 2,390.00/2,400.00 range eventually held and provided support to the price for gold. However, it was pierced at mid-Tuesday. Due to this reason the range is being adjusted to 2,383.70/2,400.00.

On Wednesday, the recovery faced the resistance of the 100-hour simple moving average and the 2,420.00 level.

A move above 2,420.00 could be slowed down by the 200-hour simple moving average and the 2,450.00 level, before the commodity approaches the recently booked all-time-high levels.

However, in the case of a decline of the metal's price support could be found in the 50-hour simple moving average and the 2,383.70/2,400.00 range. If the range fails to hold, the 2,370.00 level might act as support.
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Fri, 26 Jul 2024 13:06:09 GMT

EUR/USD reveals new zone

The EUR/USD has been trading around the 1.0850 mark for most of the week, as it has been bounced around by US data releases. Meanwhile, the pair has revealed a new support and resistance range at 1.0825/1.0830. On Friday, the rate was finding support in the 1.0840/1.0850 range and minor resistance was provided by the 100-hour simple moving average.

Wed, 24 Jul 2024 10:24:12 GMT

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