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.
GBP/USD: 1.4000 in sight?
GBP/USD was favored by a broad-based USD weakness during Tuesday’s session, following the news of Rex Tillerson’s dismissal as U.S. Secretary of State. The current cycle overview shows us that Cable is poised to post fresh highs across the board, as the pair managed to break above March 6th highs. If the pair continues with the bullish bias, the next target would be the 100% Fibonacci level at 1.3998. To the downside, a strong support is placed around 1.3938.
RSI indicator stays in the overbought territory.
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.
Asian equity markets were subdued, and US equity futures traded choppy after last Friday’s losses on Wall Street.
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.