GOLD retraced back to the trendline (lows 1180 and 1194) and has performed a four days run to the upside. The price isn’t so convincing because the daily candles have very small range. However XAUUSD is facing an important horizontal resistance which we may call it “make or break”. If price breaks out, then the next resistances are 1248 and 1262. There are good probabilities for sell opportunities if price manages to climb to these areas. On the other hand, if price breaks out the rising channel to the downside, then GOLD may see the lower trendline again.
Good Morning , – EUR/USD Selloff. The euro took the brunt of renewed focus on the euro zone problems. The euro eased to $1.3460, retreating further from Friday’s 14-1/2-month peak of $1.3710, ahead of the European Central Bank’s policy meeting on Thursday. – Asian shares drop on euro zone worry. Japan’s Nikkei -1,90% , […]
EU stock markets have a “fragile” opening as European Central Bank announced a €750 billion new pandemic emergency purchase program called PEPP. The program concerns private and public sector securities to face the risks of the overall outlook for the euro area due to COVID-19. Additionally, many EU members started banning the short-selling equities as […]
Today’s agenda includes major news and events, such as ECB Monetary Policy Meeting Accounts, US Initial Jobless Claims (Previous: 231K, Forecast: 225K), US Continuing Jobless Claims (Previous: 1.740M, Forecast: 1.714M), New Home Sales (Previous: 0.544M, Forecast: 0.569M) and Fed’s Powell Speech. Reviewing the daily technical aspect, EURUSD approached the 61.8% Fibonacci retracement level earlier in […]
