Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
EUR/CHF reversed from support area
- EUR/CHF reversed from support area
- Next buy target - 1.1650
EUR/CHF recently reversed up from the support area lying between the strong support level 1.1440 (which reversed earlier wave (A) at the start of February) and the lower daily Bollinger Band. The upward reversal from this support area completed the previous long-term correction ④ from January. EUR/CHF is expected to rise further in the active impulse wave ⑤ toward the next buy target at the next resistance level 1.1650 (former support from February).
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.