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.
EUR/JPY looks vulnerable
Information is not investment advice
EUR/JPY failed to settle above the 100-day MA. This line has a bearish bias and acts as resistance around 126.70. The weekly pivot point is also located near this area. As long as the pair is capped by this level, sellers will dominate at this market.
The ECB meeting scheduled later today will lead to an increase in volatility. There are reasons to think that the upcoming move will be to the downside. The bearish targets include a former resistance zone of 125.90 and 125.45 (Fibo level).
AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.
Gold price formed a bearish harmonic ‘Butterfly’ pattern. Still, the detour to $1760 may be the decline it forecasts. In addition, even the pattern allows expecting the increase up to $1780.
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