EUR/USD follows pattern

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


The release of US ADP payrolls caused an all-out decline of the US Dollar. Due to that reason, the EUR/USD currency exchange rate began a surge. The surge reached the upper trend line of the channel up pattern, which had guided the rate since August 19.

On Thursday, the rate had retreated and traded sideways, as previous gains were being consolidated.

In the case that the pair resumes its surge, the EUR/USD would aim at the resistance of the weekly R2 simple pivot point at 1.1875. In the meantime note the upper trend line of the channel up pattern. Note that a surge could be caused by the support of the 55 and 100-hour simple moving averages.

On the other hand, a possible decline of the pair could look for support in the mentioned SMAs near 1.1825 and 1.1810. Below the SMAs, the 1.1800 level and the zone surrounding it could provide support.
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Thu, 02 Sep 2021 07:35:50 GMT

GBP/USD once again tests 1.3800

The rate surged and passed resistance levels on Wednesday, as the US ADP payrolls caused a decline of the USD. The surge of the GBP/USD was stopped by the 1.3800 level. A follow up decline eventually found support in the 55-hour simple moving average near 1.3765. In the case that the 55-hour simple moving average pushes the rate up, the

Thu, 02 Sep 2021 06:33:05 GMT

USD/CAD remains near 1.2640 level

On Wednesday, the US Dollar surged by 53 pips or 0.43% against the Canadian Dollar. The surge was stopped by the 200– hour simple moving average at 1.2635 during Wednesday's trading session.

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