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 inside a key support area
The EUR/USD pair was smashed during Friday’s session amid a strong USD across the board, helping to push the pair towards the Fibonacci zone of 65% at 1.2255. If the pair manages to rebound above that area, we can expect a rally to test the Fibonacci area of -23.6% at 1.2513. To the downside, the 1.2255 could be a tough nut to crack and helps to cap more declines toward the 1.2216 zone.
RSI indicator stays in the negative territory, favoring to the bearish bias.
The JPY is the strongest and the NZD is the weakest. Jump in for the fresh analysis!
European shares fell on Monday as rising COVID-19 infection rates in Europe prompted renewed lockdown measures in some countries, casting doubt over the economic recovery, with a lack of U.S. stimulus also weighing on sentiment.
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.