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: 'Thorn' pattern
There's a 'Thorn' pattern, so the price is testing the nearest support at 1.2377. It's likely that the market is going to test the next support at 1.2358 - 1.2344 in the coming hours. If a pullback from this area happens, there'll be an opportunity to have another bullish rally.
We've got a 'V-Top', so the market is declining. It's likely that the pair is going to test the 55 Moving Average, which could be a departure point for an upward price movement towards another resistance at 1.2421 - 1.2441.
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.