Gold surges to 1,810.00

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


The price for gold eventually managed to pass the resistance of the 100-hour simple moving average and the 200-hour simple moving average near 1,800.00 and 1,805.00. In the meantime, a minor channel up pattern was spotted. The pattern had been guiding the price up since the start of January 7 trading.

If the price for gold continue to surge, the bullion would most likely encounter resistance in round price levels, as it is pushed up by the channel up pattern. The surge could eventually end at the summer high level zone that starts at 1,830.00.

A decline of gold might aim at the combined support of the 1,800.00 mark, the 50 and 100-hour simple moving averages and the lower trend line of the channel up pattern. However, note that the trend line of the pattern and the 50-hour simple moving average are ascending. Below the 1,800.00 level, the most close by support was the 1,790.00 level, which acted as support on Monday.
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Wed, 12 Jan 2022 08:30:26 GMT

EUR/JPY reaches above 131.00

On Tuesday, the EUR/JPY currency exchange rate reached above the resistance of the weekly simple pivot point and the 131.00 mark. However, the event did not result in a sharp surge, as the rate started to confirm the pivot point as support, before making a further move. A move higher, could find resistance in the 131.40 level, which acted

Tue, 11 Jan 2022 15:17:38 GMT

USD/JPY shortly trades outside pattern

Despite piercing the lower trend line of the channel down pattern, the USD/JPY returned to trade in its borders. Namely, the support zone at 114.96/115.04 acted as support and caused a recovery. By the start of Tuesday's US trading hours, the rate had recovered to the combined resistance of the 100-hour simple moving average, weekly simple pivot point and the

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