Gold finds support in 1,700.00

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


The decline of gold's price on Wednesday was finding support in the 50-hour simple moving average near 1,705.00. However, the SMA eventually failed and a short lived decline occurred, as the commodity immediately reversed at the 1,700.00 level.

By the middle of Thursday's trading, the price recovery was heading to the September highs near 1,730.00. The 1,730.00 level acted as resistance on Tuesday, when the metal made two attempts at passing above it.

A move above the 1,730.00 level could be slowed down by the 1,740.00, 1,750.00 and 1,760.00 levels, before the late August high level at 1,765.10 would be reached.

On the other hand, a decline of the price is set to look for support in the 50-hour SMA near 1,720.00 and the 1,700.00 mark. Note that the 100-hour SMA is expected to strengthen the 1,700.00 mark.
Back to articles

Actual Topics

Mon, 10 Oct 2022 08:37:55 GMT

EUR/USD reaches below 0.9700

On Monday morning, the decline of the EUR/USD, which was caused by the better than expected US employment data, continued. By 08:30 GMT, the currency pair had reached below the 0.9700 mark. The round level did not act as support. An extension of the ongoing decline of the currency pair could look for support in the 0.9650 level and the

Thu, 06 Oct 2022 08:05:16 GMT

USD/JPY recovery continues

The recovery of the US Dollar against the Japanese Yen appears to have encountered resistance in the 144.80 level. After the encounter, the pair retraced and found support near 144.40. In the meantime, it appeared that the 50 and 200-hour simple moving averages had resumed to have an impact on the pair. A resumption of the US Dollar's surge against the

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.