Gold breaks pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA
As a new month started, the yellow metal's price ended its decline in the borders of a channel down pattern. The price broke out of the pattern through its upper trend line. Moreover, the resistance of the 55-hour SMA was quickly broken.  

By the middle of Tuesday's GMT trading hours, the price for gold had reached the 100-hour simple moving average. If the SMA fails to provide resistance, the price could reach for the 200-hour SMA near 1,827.25. 

On the other hand, note that the 100-hour SMA was located at the 1,800.00 level, which on its own provided strong support during the last week. This round price level could keep the metal down.
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Wed, 02 Dec 2020 07:06:10 GMT

EUR/JPY breakout occurs

Upside risks dominated the common European currency against the Japanese Yen on Tuesday. The currency pair surged by 141 pips or 1.13% during yesterday's trading session.

Tue, 01 Dec 2020 11:41:28 GMT

USD/JPY finds support

The USD/JPY currency exchange rate started Tuesday's trading by finding support in the 100-hour simple moving average and the weekly simple pivot point at 104.21. In the meantime, additional support cloud be provided by the 55 and 200-hour SMAs, which were located near 104.15.

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