Gold continues to surge

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Source: Dukascopy Bank SA


The channel up pattern of the yellow metal's price held, as its lower trend line together with the 55-hour SMA provided enough support to cause a surge. By the middle of Friday's European trading hours, the metal had reached the 1,795.00 level, which started to provide resistance.

In the near term future, the metal could trade sideways below the 1,795.00 mark until the 55-hour SMA catches up and provides the needed support for a surge. A surge would most likely immediately test the resistance of the 1,800.00 mark.

On the other hand, as the 55-hour SMA is lagging behind the price, a decline might occur. A decline might reach for the 55-hour SMA and the lower trend line of the channel up pattern near 1,785.00. In the case of the price passing the SMA and breaking the channel up pattern, the bullion might look for support in the 100 and 200-hour simple moving averages.
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Mon, 25 Oct 2021 07:44:26 GMT

EUR/USD bounces off resistance zone

On Monday morning, the EUR/USD made an attempt to pass the resistance zone of 1.1665/1.1670. The rate failed at its attempt and declined to the combined technical support of the 55 and 100-hour simple moving averages at 1.1640. In the case of a surge, the pair would once again test the resistance of the 1.1665/1.1670 zone. A passing of the

Fri, 22 Oct 2021 11:40:30 GMT

USD/JPY breaks pattern

The small channel down pattern of the USD/JPY was broken, as its upper trend line held for four hours before the USD/JPY passed it. The following surge eventually stopped at the combined resistance of the 55 and 100-hour simple moving averages. The SMAs forced the pair into a decline, which on Friday afternoon was heading to the weekly simple pivot

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