Gold respects pattern

Source: Dukascopy Bank SA


The price of gold continues to move higher. By mid-Monday, the price was far above the 2,700.00 mark. However, the metal appears to have encountered resistance in the 2,740.00 level and the upper trend line of a channel up pattern.

The consolidating decline of the metal could look for support in the 2,720.00 level and the 50-hour simple moving average, before the rate's decline approaches the 2,700.00 mark and the lower trend line of the channel up pattern.

In the case of a resumption of the surge, the metal would have to break the 2,740.00 level and the upper trend line of the channel pattern, before testing the 2,750.00 mark.
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Mon, 28 Oct 2024 18:42:19 GMT

EUR/USD respects round levels

The 1.0800 mark was passed, during the prior week. However, support was found in the 1.0760 and 1.0780 levels. By the start of this week, the rate was trading near the 1.0800 mark, respecting technical levels around it. A surge of the Euro against the US Dollar is set to face resistance in the 200-hour simple moving average. Higher

Mon, 21 Oct 2024 14:41:04 GMT

USD/JPY is above 150.00

The USD/JPY reached above the 150.00 mark on October 17. However, resistance was found near 150.30. This level caused a decline of the rate down to the support and resistance range that surrounds the 149.00 level. The 149.00 provided support and by mid-Monday the rate was heading back to 150.30. A move above 150.30 and the weekly R1 simple

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