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There's another 'V-Top' pattern, which has been confirmed, so the pair is going to test the nearest support at 1.2684 - 1.2661. In this case, we could have a new local low within the next few hours. If a pullback from the target area happens little later on, there'll be a moment for an upward correction towards 1.2763 - 1.2784.
The pair is consolidating under the Moving Averages. It's likely that the market is going to achieve the closest resistance at 1.2755 shortly. Meanwhile, the subsequent pullback from this level could lead to a decline in the direction of the next support at 1.2684 - 1.2671.
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.
The U.S. Commerce Department said it will issue an order Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20.
US stock markets tumbled at the opening on Thursday as the Federal Reserve's warnings about a slow recovery from the pandemic.
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.
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.
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