EUR/USD recovers after Friday's drop

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


On Friday, at 12:30 GMT, the EUR/USD plummeted due to the very good US employment data, which indicated that the Federal Reserve can hike USD interest rates and cause a decrease in USD supply. The pair plummeted from 1.0240 down to the 1.0140 level. However, since the event the pair has recovered. During the second part of Monday's trading, the currency exchange rate had recovered to 1.0220.

A potential surge of the Euro against the US Dollar is likely to test resistance in the form of the 1.0240 and 1.0250 levels. Higher above, note the resistance of the weekly R1 simple pivot point at 1.0277.

On the other hand, a drop below the 1.0200 mark, the weekly simple pivot point and the 50, 100 and 200-hour simple moving averages that are spread out from 1.0190 up to 1.0205.
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Actual Topics

Mon, 08 Aug 2022 18:43:29 GMT

GBP/USD encounters resistance in moving average

The US employment data release on Friday caused a drop of the GBP/USD below the support zone near 1.2080 and the 1.2050 level. The pair eventually found support near 1.2000 and recovered. During Monday's trading, the recovery encountered resistance in the 100-hour simple moving average near 1.2130. An extension of the decline of the Pound against the US Dollar might look

Fri, 05 Aug 2022 08:15:37 GMT

Gold reaches above resistance zone

The price for gold has reached above the 1,784.40/1,788.70 zone. Afterwards, resistance was found in the 1,795.00 mark. On Friday morning, the commodity price was finding support in the previous resistance zone, as the 1,788.70 level appeared to be keeping the price up. If the metal manages to recover, the 1,795.00 level and the 1,800.00 mark are expected to provide resistance.

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