Gold moves above resistance zone

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Source: Dukascopy Bank SA


At mid-day on Tuesday, the price for gold once again moved above the resistance zone at 1,913.50/1,922.00. In the meantime, the commodity was finding support in the 100-hour simple moving average near 1,911.20.

If the commodity price continues to surge, it might encounter resistance in the 1,930.00 mark, which reversed the early Monday's surge. Higher above, other round price levels could act as resistance, before reaching the last week's high level at 1,975.00.

Meanwhile, a potential decline would have to pass the support of the 100-hour simple moving average, before approaching the 1,900.00 mark. Note that the 1,900.00 mark is being strengthened by the 50 and 200-hour simple moving averages.
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Wed, 02 Mar 2022 09:11:19 GMT

EUR/JPY reaches 127.50 level

Since the second part of Tuesday's trading hours, the EUR/JPY currency exchange rate has been trading between the 127.50 and 128.00 levels. Meanwhile, the currency pair was ignoring the support of the weekly S1 simple pivot point at 127.80. If the Euro continues to decline against the Japanese Yen, the currency rate would have to pass below the 127.50 mark,

Tue, 01 Mar 2022 13:21:27 GMT

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The USD/JPY fulfilled the scenario of a decline on Monday, as the pair declined below the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point, and the 115.00 mark. On Tuesday morning, the rate retraced back up and confirmed that the weekly simple pivot point is capable of acting as resistance, due to the pair bouncing

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