Gold drops below SMA

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


In a sharp move just after mid-day on Tuesday, the support of the 200-hour simple moving average was passed. However, almost immediately the rate found support in the 1,725.00 level. By the middle of Wednesday's European trading hours, the metal's price had retraced back up to the 1,735.00 level.

In the near term future, the recovery of the metal was expected to continue. It was expected to do so due to previously the 55 and 100-hour SMAs failing to provide resistance. It was more likely that the recovery could end above the 1,740.00 level or even Monday's high level above the 1,745.00 mark.

On the other hand, in the case of a sudden decline the price could look for support in the 1,730.00 and 1,725.00 levels.
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Thu, 25 Mar 2021 07:06:53 GMT

EUR/JPY could still edge up

The Eurozone single currency declined by 52 pips or 0.41% against the Japanese Yen on Wednesday. The decline was stopped by the weekly support level at 128.51 during Wednesday's trading session.

Wed, 24 Mar 2021 09:56:47 GMT

USD/JPY is pushed down by SMA

The USD/JPY did not need the support of the 50.00% Fibonacci retracement level at 108.35 to recover. The rate found support just above the 108.40 mark and surged to the 55-hour simple moving average, which provided resistance. By the middle of Wednesday's trading, the rate was making another attempt to pass the 55-hour SMA. If the simple moving average fails to

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