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EUR/USD: consolidating along Moving Averages
The price is still consolidating along the Moving Averages. It's likely that the pair is going to test the closest support at 1.1628 - 1.1599 in the short term. A pullback from these levels could be a starting point for a bullish price movement towards the 89 Moving Average.
There's a 'Double Top', which has been confirmed, so the market is likely going to achieve the next support at 1.1623 - 1.1612. Meanwhile, if a pullback from this area forms next, there'll be a moment for an upward price movement.
Asian equity markets were subdued, and US equity futures traded choppy after last Friday’s losses on Wall Street.
The U.S. Commerce Department said it will issue an order Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20.
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.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
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.