Gold respects moving averages

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


The recovery from the 1,764.00/1,766.15 range found resistance in the 1,780.00 level. Afterwards, a decline appears to be finding support in the 200-hour simple moving average near 1,770.00. By mid-Wednesday, the price remained above the 200-hour SMA, as the 50-hour SMA approached from above and acted as resistance. Namely, the price is expected to get squeezed in between the SMAs near 1,775.00.

A break out to the upside is expected to encounter resistance in the combination of the 100-hour simple moving average and the 1,785.20/1,786.30 zone. Higher above, the high level range at 1,803.30/1,809.90 is set to act as resistance.

Meanwhile, a break out downwards could look for support in the 1,764.00/1,766.15 range, prior to approaching the previous low levels at 1,744.75 and 1,739.40.
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Thu, 08 Dec 2022 17:53:03 GMT

EUR/USD recovers above 1.0550

The recovery of the EUR/USD initially stalled at the 1.0550 level. However, after retracing down and finding support in the 50-hour simple moving average, the pair eventually surged above 1.0550. An extension of the ongoing surge of the Euro against the US Dollar might encounter resistance in the 1.0600 mark and the weekly R1 simple pivot point at 1.0622.

Wed, 07 Dec 2022 11:35:14 GMT

USD/JPY continues to surge

By mid-Wednesday, the USD/JPY currency pair reached the 137.80 level. Meanwhile, it was spotted that the pair might be supported by an ascending supporting trend line. A continuation of the appreciation of the US Dollar against he Japanese Yen is set to test the following levels. The 138.00 mark, the weekly R1 simple pivot point at 138.24, the 138.50 and

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