Gold pierces resistance line

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


There are a number of important updates to note in regards to the price of Gold. First of all, the price has pierced the resistance line of the recent June high levels. Secondly, the price has revealed that it is surging in a channel up pattern. In addition, the simple moving averages are left below the bullion.

If the metal continues its surge, it is highly likely that the bullion would reach the resistance of the 1,800.00 mark. However, take into account that the price is bound to encounter resistance in the 1,790.00 and 1,795.00 levels. The price bounced off these levels throughout the previous week.

On the other hand, a potential decline would look for support in the lower trend line of the channel up pattern. Moreover, if the SMAs catch up from below, they are highly likely going to provide technical support.
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Mon, 05 Jul 2021 05:49:12 GMT

EUR/JPY decline could continue

The common European currency declined by 55 pips or 0.42% against the Japanese Yen on Friday. The currency pair breached the 50– and 200– hour SMAs during Friday's trading session.

Fri, 02 Jul 2021 09:03:52 GMT

USD/JPY finds resistance at 111.65

The US Dollar has encountered resistance against the Japanese Yen in a zone from 111.63 to 111.66. On Friday morning, the rate bounced off this zone and declined to the 111.40 mark, which was supported by the weekly R1 simple pivot point. In the near term future, the rate could find support in the 111.40 level and recover. In this case

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