Gold passes resistance of SMA

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


After finding support in the 1,675.00 level on Monday, the price of the yellow metal began a surge. By the middle of Tuesday's GMT trading hours, the price had reached above the 100-hour simple moving average, which had previously stopped an attempt to recover.

In the near term future, the rate should aim at the resistance of the 200-hour SMA and 38.20% Fibonacci retracement level near 1,730.00. If this level would be passed, the metal could test the upper trend line of the channel down pattern.

On the other hand, the rate could face resistance at round price levels like the 1,710.00 and 1,720.00. Both of these levels have shown in the past that they can impact the commodity price.
Back to articles

Actual Topics

Wed, 10 Mar 2021 07:15:55 GMT

EUR/JPY two scenarios likely

The common European currency declined by 53 pips or 0.41% against the Japanese Yen on Tuesday. The decline was stopped by the lower line of an ascending channel pattern at 129.00 during yesterday's trading session.

Tue, 09 Mar 2021 11:23:01 GMT

USD/JPY reaches new high level

The USD/JPY managed to pass the 108.55/108.65 resistance zone. On Tuesday morning, the currency exchange rate had reached the resistance of the weekly R1 simple pivot point at 109.23. After making attempts to pass it for six hours straight, the pair declined to the support of the 55-hour simple moving average. In the near term future, the rate was expected to

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
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.