EUR/USD pierces another support level

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


The EUR/USD has declined below the support of the weekly S1 simple pivot point at 1.0920. Next target for the decline appeared to be the 1.0900 mark. In the meantime, the rate appeared to be confirming the 1.0935/1.0945 range as resistance.

A decline below 1.0900 mark could eventually reach the support of the July low levels at 1.0835/1.0840, the weekly S2 simple pivot point at 1.0829 and afterwards the 1.0800 mark. In addition, note the trend line which connects the lower low levels of the broader decline.

On the other hand, a recovery of the Euro against the US Dollar would have to break the 1.0935/1.0945 range, before a surge starts. A move above 1.0945 could be slowed down by the 50 and 100-hour simple moving averages and the descending resistance line. Higher above, note the 1.1000 mark.
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Thu, 03 Aug 2023 09:49:51 GMT

USD/JPY pierces 143.50 level

The USD/JPY has continued to surge, despite slowing down. On Thursday, the currency pair passed above the 143.50 level, before retracing back down and looking for support. If the rate finds support in the 142.70/143.10 range, it could resume its surge and aim at the combined resistance of the 144.00 mark and the weekly R2 simple pivot point at 144.09.

Tue, 01 Aug 2023 17:54:13 GMT

Gold reaches new low level

The price for gold reversed from the 1,972.40 level on Monday. There is no technical reason for the reversal. However, it can be attributed to a broader strengthening of the US Dollar. The decline eventually reached below the last week's low level and the 1,942.00 level. It appeared on Tuesday, that the metal is set to look for support

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