Gold recovers

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


Today, all attention will be on the US Federal Reserve Rate announcement at 18:00 GMT. The event is going to set the base rate on the USD. A hike is expected to increase the USD demand and value, but no hike would decrease it.

Prior to the event, the price for gold extended the recovery that had started after finding support in the 1,955.00 level.

A continuation of the ongoing surge could be slowed down by the 1,975.00 and 1,980.00 levels, before the rate reaches the high level zone at 1,984.20/1,987.70.

On the other hand, a decline might look for support in the combination of the 1,965.00 level and the 50, 100 and 200-hour simple moving averages. Below these levels, the 1,955.00, 1,950.00 and 1,940.00 levels are capable of acting as support.

However, fundamentals and, especially, Fed rate hike are above all technicals.
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Actual Topics

Thu, 27 Jul 2023 06:56:14 GMT

EUR/USD reacts to weakening Dollar

The Federal Reserve hiked just 0.25% that were expected. Moreover, follow up comments by the head of the Federal Reserve have been perceived by the markets as dovish for the USD. Namely, the US Dollar's value and demand for it will not grow due to monetary tightening, as the Fed remains indecisive and "data dependant." In the aftermath of the

Wed, 26 Jul 2023 09:34:44 GMT

USD/JPY declines before the Fed

Today, all attention will be on the US Federal Reserve Rate announcement at 18:00 GMT. The event is going to set the base rate on the USD. A hike is expected to increase the USD demand and value, but no hike would decrease it. Prior to the event, the USD/JPY declined below the 141.00 and 140.50 levels. It appeared

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