Gold declined below its 1769 key support area yesterday and posted the lowest level since April 15 around 1755 USD/Oz, which is another support that we should keep an eye on.
Daily Market Analysis
EUR/USD traded within a tight range since the mid of last week with no significant action. However, the euro managed to test its major uptrend last week and hold well above that support.
These days, investors’ attention is on Microsoft ahead of the company’s Windows 11 event on June 24.
EUR/USD found support at 1.1845 and is currently trading just below the 61.8% Fibonacci retracement of the March-May advance at 1.1920.
NZD/USD has returned above the 50-week MA at 0…
Nikkei 225 has sharply dropped after the hawkish surprise from the Federal Reserve.
The amount of problems caused by the coronavirus pandemic is huge…
The Federal Reserve kept the current policy as widely expected. However, the surprise came from the Dot Plot.
Everyone is interested in trading gold (XAU/USD). The meeting of the Federal Reserve at 21:00 MT time (GMT+3) will certainly drive the price.
AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.
Gold prices tumbled during the first trading day of the week declining to as low as 1844 USD/Oz. However, it was able to trim these losses and closed the day around 1866 USD/Oz.
USD/CAD mas managed to leave the range. The pair is now targeting higher levels.