EUR/USD reacts to Powell's speech

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


The interview of Jerome Powell on Tuesday caused high volatility of the EUR/USD, which has resulted in the rate recovering to the 1.0750 level.

A move above the 1.0762/1.0766 range, which captures Tuesday's reversal zone, might encounter resistance in the 1.0800 mark and the 100-hour simple moving average. Higher above, note the 200-hour SMA and the 1.0850 level.

However, a potential resumption of the Euro's decline against the US Dollar might look for support in the 50-hour SMA, the weekly S1 at 1.0713 and the 1.0700 mark. Afterwards, the Tuesday's low might act as support at 1.0670/1.0680.
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Wed, 08 Feb 2023 11:23:36 GMT

GBP/USD reveals support zone

The GBP/USD recovered due to the interview with Jerome Powell, which caused a decline of the US Dollar. During the interview, Powell reiterated his stance that there would be smaller rate hikes for a prolonged time period instead of high interest rates for a shorter time period. As a result, the GBP/USD revealed a support zone and has surged to

Tue, 07 Feb 2023 11:57:01 GMT

Gold consolidates near 1,870.00

The price for gold appears to be consolidating between two zones. The price has been between 1,860.00 and 1,880.00 since the Friday's fundamental drop, which was caused by the US monthly employment data. A move above 1,880.00 is expected to encounter resistance in the 1,900.00 mark, before the metal reached January high levels. On the other hand, a decline of the

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