Gold reaches 1,770.00 level

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Source: Dukascopy Bank SA


The resistance zone that is located below the 1,765.00 mark, failed to keep the price of gold down. Late on Monday, the price reached above the resistance zone and touched the 1,770.00 level. The 1,770.00 mark provided resistance and caused a retracement down.

If the price for gold continues to decline, it could look for support in the 100 and 200-hour simple moving averages that strengthen the 1,750.00 mark's support. A passing of the 1,750.00 level would look for support in round price levels before reaching the September low level at 1,723.00.

A potential surge would most likely test round price levels like the 1,770.00 mark before reaching the September 21 and 23 high levels near 1,783.00.
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Actual Topics

Wed, 06 Oct 2021 04:25:03 GMT

EUR/JPY breakout occurs

On Tuesday, the common European currency edged higher by 56 pips or 0.43% against the Japanese Yen.

Tue, 05 Oct 2021 07:42:19 GMT

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