Gold reveals triangle pattern

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


The previously assumed-to-be sideways trading of the yellow metal has been slowly decreasing volatility. Moreover, by inspecting the hourly candle chart, a triangle pattern has been spotted. In theory, all trading in a triangle pattern eventually ends with a break out either to the upside or downwards.

In the case that the rate breaks out up, it would face the resistance of the 1,820.00 level. Afterwards, the August high zone at 1,830.00/1,835.00 could provide resistance.

A breaking out of the triangle downwards would aim at the 1,800.00 level, which has been acting both as resistance and support. Below the 1,800.00, other round price levels might provide support.
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Mon, 06 Sep 2021 05:18:01 GMT

EUR/JPY breached channel pattern

During Friday's trading session, the common European currency declined by 50 pips or 0.38% against the Japanese Yen. The currency pair breached the lower boundary of an ascending channel pattern on Friday.

Fri, 03 Sep 2021 09:09:32 GMT

USD/JPY trades around 110.00

Since the middle of Wednesday's trading, the USD/JPY has continued to trade sideways around the 110.00 level. However, up to the start of Friday's trading, the rate was finding support in the 200-hour simple moving average. On Friday, the rate shortly traded below the SMA indicating that it might not continue to provide support. In the case the USD/JPY currency exchange

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