Gold reaches below 2,300.00

Source: Dukascopy Bank SA


As the US Dollar continues to strengthen, the price for gold has declined. The USD has been strengthening due to risk on sentiment increasing after tensions in the middle east did not escalate. Meanwhile, the talk of rising inflation in the US has been continuing, as pressure increases on the US Federal Reserve to tighten policy.

On Tuesday, the metal's price was already below 2,300.00. The ongoing decline could look for support in early April's support and resistance zones near 2,265.00 and 2,225.00.

On the other hand, a recovery of the metal would have to break the descending trend line that guides the price lower. Higher above, note the resistance of the 2,320.00, 2,340.00 and 2,360.00 levels.
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Wed, 24 Apr 2024 11:13:12 GMT

EUR/USD passes above 1.0700

On April 23rd, the US Dollar dropped at 13:45 GMT. The drop was created by the publication of the United States Manufacturing and Services sector Purchasing Managers Indices. Released numbers showed a slowdown of US business activity. The EUR/USD got the needed push up above the 1.0675/1.0690 range, the weekly R1 at 1.0695 and the 1.0700 mark. After fluctuating above

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