EUR/USD respects support zone

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


The 1.0835/1.0840 range has continued to act as support. Meanwhile, the currency exchange rate has respected the combined resistance of the 1.0900 mark and the 200-hour simple moving average.

A decline of the pair below the 1.0835/1.0840 range is most likely going to look for support in round exchange rate levels and areas near them. This is assumed due to the EUR/USD doing so during its June surge from 1.0650 up to 1.1000. Meanwhile, note that weekly simple pivot points are capable of impacting the pair.

In the case of a surge of the Euro against the US Dollar, look at the hourly simple moving averages, which from time to time act as resistance and support. As a moving average is passed it can easily turn from resistance to support and vice versa. A potential surge is expected to encounter resistance in the 1.0930/1.0940 range, before breaking through weekly pivot points and reaching the 1.1000 mark. Above 1.1000, watch the May and April high levels that have acted as resistance.
Back to articles

Actual Topics

Fri, 07 Jul 2023 08:58:55 GMT

GBP/USD trades in channel

The GBP/USD currency pair has revealed that in the first part of July it has been surging in a channel up pattern. Meanwhile, it has been observed that the 50, 100 and 200-hour simple moving averages are quite often managing to impact the rate's direction. A continuation of the surge in the pattern might be slowed down by weekly simple

Thu, 06 Jul 2023 08:48:44 GMT

Gold retreats below 1,920.00

Despite breaking the 1,930.00/1,932.25 resistance and touching the 1,935.00 mark, the price for gold has declined. On Thursday, the commodity was testing the resistance of the 1,920.00/1,922.70 range. Meanwhile, the 1,915.00 was observed acting as support. A decline of the metal's price could look for support in the 1,915.00 and 1,910.25 levels, before approaching the 1,900.00 and 1,895.00 levels. However, in

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request)
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request).
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.