XAU/USD 1H Chart: Falling Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Gold has been ticking down on Monday, meaning that near term outlook is going to remain quite bearish. On Friday the local high has been touched at 1,079, as the cross fell short of reaching the Dec 9 high at 1,085. Now the main obstacle is represented by the 200-hour SMA at 1,070. There is a possibility of a bounce back in the direction of the weekly pivot point, but the presence of 100/55-hour SMAs is making the bullish scenario more complicated. On top of that, hourly technical indicators are pointing downwards and gold remains overbought in the SWFX market (62% long). We foresee an eventual drop towards 1,062 (monthly S1; trend-line), which will expose the current Dec low at 1,046.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 14 Dec 2015 14:27:13 GMT

EUR/JPY 4H Chart: Channel Down

The Euro has already lost almost two figures since the first days of December when the EUR/JPY cross reached the two-month high at 134.59. The toughest part of a sell-off  is still ahead of the spot price. Firstly, the weekly S1 and monthly R1 will not be ignored, as they are immediately followed by the 200-period SMA at 132 and

Mon, 14 Dec 2015 08:21:33 GMT

EUR/JPY 1D Chart: Channel Down

For the time being the outlook on EUR/JPY is bearish, while the main question is whether the pair will keep forming the channel or the trading range will narrow and the falling wedge will eventually emerge. One of the arguments in favour of the latter option is the fact that the price has recently failed to extend a correction to

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.