Gold ends sideways trading

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Source: Dukascopy Bank SA


Gold ended the sideways trading in a twenty dollar range just after mid-day on Monday. The commodity price passed the support of the 1,722.20/1,725.30 zone. It resulted in a sharp move down, which was followed by narrow sideways trading.

On Tuesday, the decline resumed, as by the middle of the day, the price had almost reached the 1,690.00 level.

In the near term future, the yellow metal was expected to continue to decline until it reaches the support of the March low levels near the 1,680.00 mark. If the zone of the low levels, provides support, the metal could trade sideways above it and consolidate the drop.

On the other hand, a failure of the low levels to provide support could result in the metal reaching the 1,650.00 level.
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Wed, 31 Mar 2021 06:29:04 GMT

EUR/JPY bounces off support

The Eurozone single currency declined by 33 pips or 0.26% against the Japanese Yen on Tuesday. The decline was stopped by the 200– hour SMA during the previous session.

Tue, 30 Mar 2021 11:03:12 GMT

USD/JPY aims at 110.50

The USD/JPY passed the resistance of the June high at 109.83, where a 61.80% Fibonacci retracement level was located at. Moreover, by the middle of Tuesday's trading, the rate had almost reached the 110.50 level. Namely, the weekly R1 simple pivot point at 110.24 and the 110.00 level failed to stop the surge. If the 110.50 mark provides resistance, the pair

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