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.
XAU/USD: time for some correction?
SELL 1317.30; TP 1312; SL 1319
XAU/USD retraced 78.6% Fibonacci of April-August decline. Gold clearly has bullish potential in the medium term. In the near-term, however, this resistance may lead to some correction down. A “Head and Shoulders” on H1 is a further negative sign. Bulls will start returning to power only above 1321.
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.