Gold finds support in SMA

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


At mid-day on Thursday, the yellow metal's price found support in the 200-hour simple moving average and the 1,720.00 level. Afterwards, a surge followed. By the start of Friday's European trading hours, the metal had passed the resistance of the 55 and 100-hour SMAs and was testing the 1,740.00 mark.

If the 1,740.00 level fails to provide resistance, the bullion should next test the 1,750.00 mark. In the case of the 1,750.00 not providing resistance, other round price levels could stop a surge.

On the other hand, a bounce off from any resistance level would most likely look for support in the 55 and 100-hour simple moving averages and the 1,730.00 level, which is strengthened by the 38.20% Fibonacci retracement level. Below these levels, the 200-hour SMA and the 1,720.00 mark could once again provide support.
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Fri, 19 Mar 2021 07:39:17 GMT

AUD/USD bounces off support

The Australian Dollar fell by 105 pips or 1.34% against the US Dollar on Thursday. The decline was stopped by the 200– hour simple moving average during yesterday's trading session.

Fri, 19 Mar 2021 06:55:45 GMT

USD/JPY remains between two zones

Throughout this week, the USD/JPY has been trading with high volatility. However, it remained almost sideways, as the rate traded between the resistance zone of 109.25/109.35 and support zone of 108.80/108.75. On Friday morning, the situation had not changed and previous forecasts remained valid. If the pair eventually passes the resistance of the 109.25/109.35 zone, it would first test the resistance

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