Dukascopy Bank Team
Dukascopy Bank SA
Growing fears about inevitability of snap parliamentary elections in Germany led to appreciation of the Dollar against basket of currencies, including the yellow metal.
In result of this downfall, the exchange rate reached and made a rebound from the bottom edge of a senior ascending channel. As market sentiment remains 56% bullish, traders are expected to make numerous attempts to push the pair through all three moving averages and return it to the pre-fall 1.293.00 level. However, without similarly strong impulse this recovery is likely to be delayed until tomorrow. In this sense, declaration of North Korea, as a sponsor of terrorism, barely helped the pair to break through the monthly PP at 1,279.41.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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