Gold breaks out of triangle

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


The yellow metal broke out of the triangle pattern. The move was caused by the worse than forecast US employment data, which caused an all-out drop of the USD. The following surge ended at the resistance zone of the August high level at 1,830.00/1,835.00.

On Monday morning, the price had declined and found support in the 1,825.00 level.

If the price of the metal starts a decline, it could look for support in the 1,820.00 level, which previously provided resistance. Below the 1,820.00 level, the 55 and 100-hour simple moving averages might provide additional support.

On the other hand, a surge of the price most likely would test the resistance of the 1,830.00/1,835.00 zone before making an attempt to reach the 1,850.00 level.
Back to articles

Actual Topics

Tue, 07 Sep 2021 05:46:22 GMT

EUR/JPY could break channel

The EUR/JPY currency pair traded with low volume on Monday. As a result, the Eurozone single currency made about 17 pips or 0.13% against the Japanese Yen during Monday's trading session.

Mon, 06 Sep 2021 08:18:50 GMT

USD/JPY finds support in 109.60

The USD/JPY dropped, as the US monthly employment data was released on Friday. The drop was eventually stopped and reversed by the support of the 109.60 level. By the middle of Monday's European trading hours, the rate had recovered to a cluster of technical levels that surrounded the 109.90 level. The cluster consisted of the 55, 100 and 200-hour simple

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.