USD Regains Strenght

USD Regains Strenght

2020-08-10 • Updated

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Fibonacci Levels

 XAU/USD: Gold finds a support on 38.2%. retracement area. It seems that each pullback for gold continues to be a buying opportunity.

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European Market View

Asian equity markets eventually traded mostly higher on what was an indecisive start to the week amid holiday-thinned conditions. Looking ahead, highlights from macroeconomic calendar include EZ Sentiment Index and Fed’s Evans speech who is a Fed non-voter. Rise in US-China tensions (WeChat specifically) sends US dollar higher.

European Key Point

  • US says Chinese hackers targeting election infrastructure in the lead up to the presidential election.
  • US imposes sanctions on Hong Kong chief executive Carrie Lam.

Similar

XAU/USD: how about a buy trade?

XAU/USD formed a “hammer” candlestick on the D1 ahead of the 100-day MA. The price made a higher low on the H4 and now only the resistance at $1 877 separates the precious metal from further gains.

Levels to trade EUR/USD

EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.

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