Market sentiment was supposed to improve due to the positive comments about US-Sino trade tensions.
Tag - gold
Parliament Brexit Vote is the major event that will affect not only the British pound but market sentiment in general.
Flash Manufacturing and Services PMI releases will affect the EUR, GBP, and USD.
The day will be highlighted by American economic releases.
EUR is falling against the GBP, rising against the USD but not for long
XAU/USD ran into the resistance of the 50-day MA in the 1,481.65 area. Learn more!
The bearish bias appears to start losing power. The market reversal upwards is still to be confirmed.
Hopes for a trade deal between the United States and China have returned. Watch the video to get the outlook for the major pairs!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
If you want to know all the important highlights of the market, watch this video!
During the Asian trading session, the White House economic adviser Larry Kudlow announced the positive progress in phase one trade deal with China.
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.