Gold: breaking through towards $2000?
The gold price is now at the crossroad. Will it revert and fall back into the downtrend or aim at the all-time highs?
EUR/USD closer to 1.2000 area
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The pair is trading below the cloud. Downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAG/USD: Seems that the bullish euphoria has passed away. Silver bulls stands above 61.8% retracement area.
EU Market View
Asian equity markets were mostly lower following a flat lead from the US where focus centered on earnings and stimulus plans. Stocks dipped on Thursday as a spike in short-term Chinese interest rates fanned worries about policy tightening in the world's second-largest economy, although improving corporate earnings and easing market volatility helped stem losses. Expectations of a large U.S. stimulus package underpinned risk assets as the Democratic-controlled Congress sought to pass President Joe Biden's $1.9 trillion COVID-19 relief package without Republican support. While it is unclear how much compromise the Democrats are willing to make with Republicans who are calling for a smaller package, many investors expect additional spending of at least $1 trillion. Looking ahead, highlights from macroeconomic calendar include Eurozone & UK construction PMI, BoE rate decision, factory orders, Fed's Kaplan, Daly speeches.
EU Key Point
- Gold under pressure as technical breakdown puts the spotlight on $1,800.
- Germany reports 14,211 new coronavirus cases, 786 deaths in the latest update today.
- Fuji News Network reports Japan could begin coronavirus vaccinations on February 17.
- Moody's says it expects a lower default rate in the Asia-Pacific region in 2021.
Gerasimos Papagiannis
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Gold: breaking through towards $2000?
The gold price is now at the crossroad. Will it revert and fall back into the downtrend or aim at the all-time highs?
GPB/USD : stands on key resistance area
Fibonacci Levels XAU/USD: Gold facing a further consolidation below a full time retracement area…
EURUSD : further upside remains very likely
Ichimoku Kinko Hyo USD/JPY: The pair is trading below the cloud…
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