Gold breaks patterns and drops

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


The yellow metal found resistance in the 1,740.00 level, which was enough for it to decline. The decline was only slowed down by the 55-hour simple moving average. However, eventually the SMA failed. By mid-day on Friday, the metal had reached the 1,700.00 mark.

If the 1,700.00 mark provides support, the metal's price could trade sideways or retrace back up to the 100 and 200-hour simple moving average near 1,710.00. On the other hand, a failure to provide support could result in a decline to the recent low levels of 1,690.00 and 1,680.00.
Back to articles

Actual Topics

Mon, 15 Mar 2021 07:19:06 GMT

EUR/JPY bulls could prevail

The common European currency surged by 52 pips or 0.40% against the Japanese Yen on Friday. The currency pair was pressured higher by the 50– hour simple moving average during last week's trading sessions.

Fri, 12 Mar 2021 09:45:59 GMT

USD/JPY breaks pattern

The USD/JPY has broken the channel down pattern. Namely, the squeeze between the upper trend line of the pattern and the 50.00% Fibonacci retracement level at 108.35 ended with a break-out to the upside. By the middle of Friday's trading, the rate was reaching for the weekly R1 at 109.23. If the weekly R1 simple pivot point holds, the rate could

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.