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: main trend is still bearish
The main trend is still bearish. However, there's an opportunity to have an upward correction towards the nearest resistance at 1.1762. This level could be a departure point for another decline.
There's a local 'V-Bottom', so the market is likely going to test the 89 Moving Average. If a pullback from this line happens next, there'll be an opportunity to have a decline towards the closest support at 1.1689 - 1.1675.
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.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.