Gold reaches new low level

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


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 either in 1,940.00 or 1,932.25.

A failing of the 1,940.00 and 1,932.25 levels to provide support would leave the rate without known support levels as low as 1,910.25. However, round price levels could turn into support.

On the other hand, a recovery of commodity price could face the 1,942.50/1.943.40 range, before testing the 1,950.00 mark and the 50, 100 and 200-hour simple moving averages.
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Actual Topics

Thu, 03 Aug 2023 09:41:15 GMT

EUR/USD pierces another support level

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

Tue, 01 Aug 2023 17:27:27 GMT

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