EUR/USD passes retracement level

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Source: Dukascopy Bank SA


The EUR/USD eventually passed the support of the 50.00% Fibonacci retracement level at 1.1455. Afterwards, the rate retraced back up to the 1.1455 level and confirmed it as a resistance three times. At mid-day on Friday, it appeared that the pair was set to continue its decline.

A potential target for the decline would be the weekly S3 simple pivot point at 1.1413. Below the pivot point, the 1.1400 mark might act as a support level.

On the other hand, a recovery of the EUR/USD might find resistance in the 50.00% Fibonacci retracement level at 1.1455, the weekly S2 simple pivot point at 1.1463 and the 50-hour simple moving average.
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Fri, 12 Nov 2021 14:52:39 GMT

GBP/USD returns to 1.3400

Before reaching the 1.3350 mark, the GBP/USD started a recovery. Namely, the pair retraced back up to the combined resistance of the previously passed low level zone at 1.3410/1.3430, the 50-hour simple moving average and the 1.3400 level. If the GBP/USD resumes its decline, it could look for support in the 1.3350 level. Afterwards, the 1.3300 mark could serve as a

Fri, 12 Nov 2021 13:27:40 GMT

USD/CAD consolidates gains

The surge of the USD/CAD reached the 1.2600 mark on Thursday evening. In the aftermath of reaching the 1.2600 level, the pair started to trade sideways in the range between the support of the 1.2570/1.2575 zone and the resistance at 1.2595/1.2605. If the pair passes the resistance zone at 1.2595/1.2605, the USD/CAD could aim at the resistance of the weekly R3

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