Gold returns to pattern's borders

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


Despite shortly piercing the upper trend line of the channel down pattern, which has guided gold since last week, the metal's price declined at mid-day on Wednesday. By the middle of Thursday's trading, the yellow metal had reached below the 50, 100 and 200-hour simple moving averages and the lower trend line of a minor size channel up pattern.

In the case that the decline of the price continues, the commodity might reach the December low level zone at 1,760.15/1,763.60. On the other hand, the bullion might recover and test the 50, 100 and 200-hour simple moving averages near 1,782.00/1,785.00, before reaching the upper trend line of the channel down pattern.

Meanwhile, take into account that round price levels are capable of providing both support and resistance.
Back to articles

Actual Topics

Fri, 10 Dec 2021 09:19:47 GMT

EUR/JPY retreats to 128.00

The bounce off from the resistance of the 129.00 level eventually passed technical support levels on Friday morning. Namely, the EUR/JPY declined below a support zone, the 50 and 200-hour SMAs and the weekly R1 simple pivot point. However, by the start of the day's European trading hours, the pair found support in the 128.00 mark and slightly recovered.

Thu, 09 Dec 2021 12:27:47 GMT

USD/JPY remains near 200-hour SMA

The USD/JPY surged to the November 28 high level zone near the 114.00 mark on Wednesday. The resistance zone was strong enough to cause a decline. By the middle of Thursday's trading, the pair had returned to the support of the 200-hour SMA. Meanwhile, additional support had approached the rate in the form of the 100-hour simple moving average. A surge

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.