EUR/USD reaches 1.1000 mark

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Source: Dukascopy Bank SA


The resistance zone at 1.0950/1.0965 failed to hold, as the additional support of the 50-hour simple moving average approached. The follow up surge easily passed above the weekly R1 simple pivot point at 1.0982 and pierced the 1.1000 mark.

However, during the first half of Wednesday's trading the pair started a decline. In general, the bulls were taking gains, as they expected uncertainty from the upcoming release of the US Gross Domestic Data at 13:30 GMT. It is likely that by the time you are reading this, the data is out and has caused a move. Despite the event, note support and resistance zones.

The ongoing decline could look for support in the 1.0950/1.0965 range and the 50-hour simple moving average near 1.0970. Further below, take into account the 100-hour simple moving average near 1.0950 and the 200-hour SMA near 1.0930. Below the moving averages, the weekly simple pivot point at 1.0917 and the 1.0900 mark could act as support.

On the other hand, a resumption of the ongoing EUR/USD surge could be slowed down by the weekly R1 at 1.0982, the 1.1000 mark and the weekly R2 at 1.1030. Above these lone levels note the combination of the 1.1100 level and the weekly R3 simple pivot point at 1.1095.
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Actual Topics

Wed, 29 Nov 2023 10:29:10 GMT

GBP/USD respects weekly pivot point

The GBP/USD gained additional support from the 50-hour simple moving average and extended its surge. The surge eventually hit the resistance of the weekly R2 simple pivot point at 1.2724 that combined with the fundamental background started a consolidating decline. Namely, the markets wait for the US GDP release at 13:30 GMT, due to which profits from the long

Tue, 28 Nov 2023 10:34:49 GMT

Gold consolidates near 2,015.00

After the initial surge, on Monday the price for gold fluctuated between the 2,010.00 and 2,015.00 levels. On Tuesday, the price firmly fluctuated around the 2,015.00 mark. A proper move above 2,015.00 might encounter resistance in other round price levels. In the meantime, any sharp surge is set to be slowed down by the upper trend line of the channel

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