Gold breaks patterns and drops

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


The yellow metal found resistance in the 1,740.00 level, which was enough for it to decline. The decline was only slowed down by the 55-hour simple moving average. However, eventually the SMA failed. By mid-day on Friday, the metal had reached the 1,700.00 mark.

If the 1,700.00 mark provides support, the metal's price could trade sideways or retrace back up to the 100 and 200-hour simple moving average near 1,710.00. On the other hand, a failure to provide support could result in a decline to the recent low levels of 1,690.00 and 1,680.00.
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Mon, 15 Mar 2021 07:19:06 GMT

EUR/JPY bulls could prevail

The common European currency surged by 52 pips or 0.40% against the Japanese Yen on Friday. The currency pair was pressured higher by the 50– hour simple moving average during last week's trading sessions.

Fri, 12 Mar 2021 09:45:59 GMT

USD/JPY breaks pattern

The USD/JPY has broken the channel down pattern. Namely, the squeeze between the upper trend line of the pattern and the 50.00% Fibonacci retracement level at 108.35 ended with a break-out to the upside. By the middle of Friday's trading, the rate was reaching for the weekly R1 at 109.23. If the weekly R1 simple pivot point holds, the rate could

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