EUR/USD declines after surging

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


The EUR/USD broke resistance of moving averages and the weekly simple pivot point on Wednesday. The following surge reached the December 1 high levels at 1.1355/1.1360, before starting a decline. By the middle of Thursday's trading, the rate had reached the weekly simple pivot point at 1.1313.

In the meantime, take into account that the 50, 100 and 200-hour simple moving averages were approaching the weekly simple pivot point. The SMAs could provide additional support and cause a surge.

A potential surge of the Euro against the US Dollar would most likely once again test the resistance of the 1.1355/1.1360 level. If the currency exchange rate moves higher, the weekly R1 simple pivot point at 1.1390 might stop the EUR/USD.

On the other hand, a decline of the currency pair below the weekly simple pivot point and the simple moving averages near 1.1300 might result in the rate looking for support as low as the 1.1250 mark, the weekly S1 simple pivot point at 1.1242 and the low level zone at 1.1228/1.1236.
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Thu, 09 Dec 2021 12:10:10 GMT

GBP/USD retreats below 1.3200

On Wednesday, the GBP/USD pair respected the resistance of the 50 and 100-hour simple moving averages near the 1.3240 and 1.3250 levels and the support of the weekly S1 simple pivot point at 1.3167. The rate had bounced between the mentioned levels throughout the day. During the first half of Thursday's trading, the pair had retreated from the 50-hour SMA

Thu, 09 Dec 2021 10:21:31 GMT

USD/CAD respects pivot points

On Wednesday, the USD/CAD found support in the weekly S3 simple pivot point at 1.2611. Meanwhile, resistance was provided by the weekly S2 simple pivot point at 1.2662. On Thursday morning, the rate passed the resistance of the weekly S2 simple pivot point and the 50-hour simple moving average. If the pair continues to surge, it would most likely reach the

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