Gold reveals triangle pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Starting the week, analysts spotted a descending triangle pattern on the yellow metal's hourly candle chart. The price has been trading between a support zone at 1,770.00/1,775.00 and a descending trend line since June 21. In theory, the commodity price would trade in the pattern until a break out from it occurs.

If the price breaks out to the upside, it would most likely face the resistance of the 200-hour simple moving average near 1,790.00. Afterwards, the 1,800.00 mark would be reached.

On the other hand, a passing of the 1,770.00/1,775.00 zone could result in a decline to the 1,750.00 mark.
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Tue, 29 Jun 2021 06:15:33 GMT

EUR/JPY two scenarios likely

The Eurozone single currency declined by 58 pips or 0.44% against the Japanese Yen on Monday. The currency pair breached the 50– and 200– hour SMAs during Monday's trading session.

Mon, 28 Jun 2021 08:54:09 GMT

USD/JPY is squeezed in

On Monday, the USD/JPY currency exchange rate was facing the resistance of the 55 and 100-hour simple moving averages near 110.80. In the meantime, the pair had the support of the weekly simple pivot point, the 200-hour SMA and the last week's low level in the 110.56/110.49 zone. In the near term future, the pair was expected to get squeezed in

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