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/USD: 'Flag' has been broken
The pair is consolidating near the 89 Moving Average. It's likely that the market is going to test the nearest resistance at 1.2344 - 1.2358. A pullback from this area could be a departure point for a decline towards the nearest support at 1.2290.
The last 'Flag' has been broken, so the market is likely going to test the closest resistance at 1.2346 - 1.2358 in the coming hours. Meanwhile, if a pullback from this area forms little later on, there'll be a moment for a bearish price movement in the direction of another support at 1.2298 - 1.2290.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
UK's Raab supports that virus restrictions are serious, proportionate
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.