Gold is pushed down by SMA

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


The yellow metal pierced the upper trend line of the channel down pattern on Wednesday. However, the 55-hour simple moving average almost immediately provided resistance and caused a drop of the metal's price. The drop shortly reached below the 1,725.00 before the price began to recover.

On Thursday, the bullion retraced back to the previously pierced upper trend line of the channel down pattern. It appeared by mid-day that the price had resumed to respect the channel's borders.

In the case of a surge, the bullion would test the upper trend line of the channel down pattern and the 55-hour simple moving average near 1,735.00. Above the 1,735.00 level, the 100-hour SMA could provide resistance near 1,740.00.

Meanwhile, a potential decline of the commodity price would find support in round price levels, as it had done throughout this week.
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Fri, 01 Oct 2021 04:23:16 GMT

EUR/JPY decline likely to continue

The common European currency declined by 116 pips or 0.89% against the Japanese Yen on Thursday. The currency pair breached the 200– hour SMA support level at 129.31 during yesterday's trading session.

Thu, 30 Sep 2021 07:44:00 GMT

USD/JPY finds support in SMA

After breaking the channel up pattern, the USD/JPY declined. However, the decline was short, as the pair found support in the 55-hour simple moving average. The SMA provided enough support to cause a surge, which reached the 112.00 level. By the middle of Thursday's trading, the currency exchange rate fluctuated sideways below the 112.00 mark. In the near term future, the

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