Gold reacts to the Fed

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


As the yellow metal's price was looking for support in the 100-hour SMA in the aftermath of breaking out of the ascending triangle pattern, the Federal Reserve made an announcement.

Namely, the stimulating US monetary policy would remain intact. It caused high volatility with an initial surge to the 1,750.00 level and afterwards the 1,755.00 level. It was followed up by a decline to the 1,720.00 level on Thursday.

During Thursday's US trading hours, the metal's price was recovering. It was set to test the 55-hour SMA. If the SMA does not provide resistance, the price would first test the 1,740.00 level and afterwards the 1,750.00 mark.

On the other hand, potential declines could look for support in the 100-hour SMA near 1,730.00 and the 1,730 mark itself. Below them, note the 200-hour SMA and the 1,720.00 level.
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Fri, 19 Mar 2021 06:40:17 GMT

EUR/USD tests SMAs

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