Dukascopy Bank Team
Dukascopy Bank SA
Fundamental changes form the US Dollar side have taken place in the financial markets. As a result, the price of the yellow metal has changed. In general, the JOLTS Job Openings data was released at 14:00 GMT on Tuesday and revealed such a high number, compared to the average market forecast, that the Greenback jumped. Due to that move the pair sort of reached the lower trend line of the recently adjusted descending channel pattern. Afterwards a rebound took place and the metal was already at the upper trend line of the channel down pattern on Wednesday morning. It still had to be seen whether the metal bounces off the resistance and a short term decline begins or the surge continues. The outcome will be possible to forecast as the bullion moves away from the trend line.
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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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