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: "Tweezers" led to decline
There're bearish patterns such an "Evening Star" and a "Shooting Star". Therefore, the market is going to test the 144 Moving Average, which could be a departure point for an upward price movement.
The last "Tweezers" led to the current decline. There's no any reversal pattern so far, which means the pair is likely going to decline towards the lower "Window".
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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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.