Gold respects pattern

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


The price of gold continues to move higher. By mid-Monday, the price was far above the 2,700.00 mark. However, the metal appears to have encountered resistance in the 2,740.00 level and the upper trend line of a channel up pattern.

The consolidating decline of the metal could look for support in the 2,720.00 level and the 50-hour simple moving average, before the rate's decline approaches the 2,700.00 mark and the lower trend line of the channel up pattern.

In the case of a resumption of the surge, the metal would have to break the 2,740.00 level and the upper trend line of the channel pattern, before testing the 2,750.00 mark.
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Mon, 28 Oct 2024 18:42:19 GMT

EUR/USD respects round levels

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