Gold reacts to US inflation

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


Since October 11, the price for gold was almost flat, as the markets expected the US Consumer Price Inflation data at 12:30 GMT. The news are set to massively impact the US Dollar's value. Subsequently, the price for gold is set to adjust.

A recovery is expected to find resistance in the 1.675.00 and 1,680.00 levels, before the Tuesday's high is tested. In addition, take into account the 100 and 200-hour simple moving averages near.

In the case of a commodity price decline, the 1,657.20/1,662.50 would have to be passed, prior to the price reaching the 1,650.00 level and the support zone above 1,640.00
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Fri, 14 Oct 2022 11:30:11 GMT

EUR/USD returns to previous range

The EUR/USD plummeted as higher than expected US inflation was revealed at mid-day on Thursday. However, as an hour passed and the US markets opened, the US Dollar declined against all assets. On the pair's charts it resulted in a surge to the resistance of the 0.9800 level. The round level acted as resistance and by mid-Friday the pair

Thu, 13 Oct 2022 10:12:20 GMT

USD/JPY respects pattern

First of all, the surge of the USD/JPY has respected the upper trend line of the channel up pattern. However, the trend line might have been strengthened by the 147.00 level. Since the event, the rate retraced to the combined support of the weekly R2 simple pivot point at 146.64 and the 146.65 level. Up to mid-Thursday, the rate was

Thu, 13 Oct 2022 10:06:52 GMT

GBP/USD approaches resistance zone

Prior to the US Consumer Price Index release, the GBP/USD approached the resistance zone at 1.1175/1.1180. Future direction depends on the US CPI at 12:30 GMT. A lower than expected inflation reading would result in a surge above 1.1175/1.1180, the 200-hour simple moving average, the 1.1200 mark and the weekly simple pivot point at 1.1215. Higher above, note the 1.1250, 1.1300

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