Gold trades below 1,725.00

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Source: Dukascopy Bank SA


During the first half of Wednesday's trading hours, the price for gold fluctuated between the support zone at 1,715.00 and the resistance of the 1,725.00 level. Meanwhile, the commodity price was awaiting the US Federal Reserve rate hike, which was scheduled for 18:00 GMT.

In general, the rate decision and the monetary policy statement together with the press conference are set to reveal the future direction of the US Dollar and the price for gold.

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Wed, 27 Jul 2022 14:33:41 GMT

EUR/JPY breaks pattern

The channel down pattern has failed to push the EUR/JPY down, as the rate has passed above the pattern's resistance line. Meanwhile, it appeared that the 139.00 mark and the 50-hour simple moving average continued to act as resistance. Support was being provided by the 138.50 level. If the Euro resumes its decline against the Japanese Yen, the pair might

Wed, 27 Jul 2022 13:06:36 GMT

USD/JPY reaches above 137.00

The USD/JPY currency rate's recovery has revealed to have been occurring in a narrow channel up pattern. Meanwhile, the pair has shortly pierced the resistance of the 137.00 mark. However, ignore technical analysis for now, as today, at 18:00 GMT, the US Federal Reserve will hike their base interest rate. Depending on the size of the hike, the US Dollar

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