Gold pattern is spotted

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


The price for gold has been spotted to have moved in a descending channel pattern since the start of June. Meanwhile round price levels continue to impact the metal's movements.

A continuation of the ongoing decline of the metal's price is expected to find support in the 1,910.00, 1,905.00 levels and most importantly the 1,895.00/1,900.00 range. On a broader scale, the commodity price could follow the pattern and reach the 1,850.00 level by the end of July. A potential decline could find support in the 1,885.00 and 1,875.00 levels, as these levels acted as support and resistance in late March.

However, a surge of the metal would have to break the combination of the 50, 100 and 200-hour simple moving averages, the 1,920.00 and 1,930.00 levels and the zones that surround them, and the upper trend line of the channel pattern. In the case of the pattern being broken, the 1,940.00 and 1,950.00 levels are expected to act as resistance.
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Mon, 24 Jul 2023 10:33:01 GMT

EUR/USD passes below 1.1100

The EUR/USD bounced off the 1.1240/1.1275 range and started a decline. By July 24, the rate had reached below the 1.1100 mark. A continuation of the ongoing decline could look for support in the weekly S1 simple pivot point at 1.1063, the 1.1050 level and the combination of the 1.1000 mark and the weekly S2 simple pivot point. Further below,

Fri, 07 Jul 2023 09:13:38 GMT

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