Gold books new high

Source: Dukascopy Bank SA


The price for gold has managed to break the 2,600.00 level's resistance. By late Monday's trading, the commodity price had reached the 2,635.00 level. In the meantime, it was spotted that the 2,620.00 level was providing support.

The ongoing surge is set to face more resistance from the 2,650.00 level, as round levels have always impacted the metal during its reaching of new all-time high levels.

On the other hand, a decline of the price is set to look for support in the 50-hour SMA and the 2,620.00 level, before approaching the 2,590.00/2,600.00 zone and the 100-hour simple moving average.
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Wed, 25 Sep 2024 14:21:17 GMT

EUR/USD breaks 1.1200 mark

The recovery of the EUR/USD rate has managed to break the resistance of the 1.1200 mark. However, the weekly R1 simple pivot point has provided enough resistance for a retracement back down to occur. A broader decline of the Euro against the US Dollar is set to result in the rate looking for support in the 1.1180 and 1.1160 level,

Mon, 23 Sep 2024 17:41:08 GMT

USD/JPY encounters resistance at 144.50

The support of the 141.70/142.00 range was enough to eventually cause a surge that broke the 143.45/143.80 zone and reached the 144.50 level. The 144.50 has held and caused another decline of the pair, as the USD/JPY looks for support. An extension of the short term decline could look for support in the 100-hour simple moving average and the 143.00

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