Gold continues its surge

Source: Dukascopy Bank SA


As the US Dollar continues to weaken, the price for of gold continue to grow. By mid-Wednesday, the price had touched the 2,670.00 level and retraced to find support at 2,650.00/2,655.00.

Eventually, the surge should break through all round levels and face the 2,700.00 mark. The major round price level is set to hold for at least a week.

Meanwhile, a decline of the commodity price is set to look for support in the 2,650.00/2,655.00 range and the ascending 50-hour simple moving average. Further below, note the 2,640.00 level and the ascending 100-hour simple moving average.
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Mon, 30 Sep 2024 09:43:38 GMT

EUR/USD struggles with 1.1200

Since Wednesday, the EUR/USD is finding support near the 1.1120 level. Meanwhile, resistance is encountered at 1.1200/1.1215. In addition, the pair is impacted by the combination of the 50, 100 and 200-hour simple moving averages near 1.1150. A move above the 1.1200 mark could face resistance in the 1.1223 level, where the weekly R1 simple pivot point is located at.

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