The move above 1,496 and the psychological level of 1,500 will trigger a bullish scenario for XAU/USD.
Daily Market Analysis
The technical setup for GBP/USD allows expecting a rebound but it has to rise above the resistance first.
On Monday, AUD/CHF broke above the line connecting April and July highs at 0.6785 and managed to close the day above it.
Last week USD/CAD was rejected on the upside: the pair failed to settle above 1.3350.
The European Central Bank will meet on Thursday, September 12. What does it mean for the EUR?
The USD is going to be volatile on Friday, September 6, as America will release Nonfarm Payrolls data at 15:30 MT time.
Last week, EUR/NZD got rejected from the resistance at 1.7590 thus failing to reach new highs.
An attempt of EUR/GBP to break higher earlier this week has been rejected: the advance stopped at 0.9150.
Brent oil has been trading sideways in the 62.00/58.00 area since the beginning of August.
The global economy is in real danger. Will the central banks come to save the day?
USD/TRY has formed a big “shooting star” candlestick on the W1 last week. A similar formation is visible on the D1.
The current risk aversion is encouraging the safe-haven demand for the JPY, while the weakness of the euro area’s economy is hurting the EUR.