Gold breaks out of triangle

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


As expected, the yellow metal's price has broken out of the borders of the descending triangle pattern. It occurred in a sharp move to the 1,751.30 level. Afterwards, a retracement back up to the 1,765.00 mark occurred.

During the early Wednesday's trading hours, the pair had declined to the 1,755.00 level.

In the case that the rate declines, the 1.750.00 mark could provide support. If it fails to hold, the rate could gradually reach for the 1,700.00 level.

On the other hand, a potential recovery would find resistance at 1,765.00 and afterwards, the 1,770.00/1,775.00 zone. Note that the 1,770.00/1,775.00 zone was being strengthened by the 55, 100 and 200-hour simple moving averages.
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Thu, 01 Jul 2021 05:29:38 GMT

EUR/JPY likely to maintain channel

The single European currency surged by 49 pips or 0.37% against the Japanese Yen on Wednesday.

Wed, 30 Jun 2021 09:41:10 GMT

USD/JPY trades around 110.50

Since the middle of Tuesday's trading, the USD/JPY has been trading in limbo around the 110.50 level. The rate has been kept down by the 55 and 200-hour simple moving averages. In the meantime, support was being provided by the 110.45 level. In the case that the rate declines, it could reach the 110.00 level. Note that the 110.00 level was

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