Gold continues in channel up pattern

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


Despite the volatility caused by the publication of the monthly US employment data, the yellow metal's price continues to surge in the borders of a channel up pattern. However, it was spotted on Monday that the 1,795.00 level was providing the price with resistance.

In the case that the price gains enough support from the lower trend line of the channel up pattern and possibly the 55-hour simple moving average it could reach the resistance of the 1,800.00 mark.

On the other hand, a potential decline below the 55-hour SMA and the pattern's lower trend line would most likely look for support in the 100 and 200-hour simple moving averages near 1,775.00.
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Tue, 06 Jul 2021 03:09:09 GMT

EUR/USD breakout likely to occur

The common European currency surged by 26 pips or 0.22% against the US Dollar on Monday. The surge was stopped by the weekly pivot point at 1.1873 during Monday's trading session.

Mon, 05 Jul 2021 10:25:12 GMT

USD/JPY declines below 111.00

The USD/JPY failed to pass the resistance zone above the 111.60 level. Moreover, during the last attempt to reach higher, the rate was beat down by fundamental news. Namely, worse than expected US employment data was released on Friday at 12:30 GMT. By the middle of the day's European trading hours, the rate had extended its decline and reached the 110.80

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