Stocks, oil, and risk currencies gained on Tuesday as the formal go-ahead for US President-elect Joe Biden to begin his transition burnished a November already boosted by Covid-19 vaccines.
EUR/USD ran into an obstacle
Information is not investment advice
EUR/USD ran into a bunch of resistance levels between 1.1375 and 1.1420. On D1, there are two pinbar candlesticks with long upper wicks. This is a sign that traders are actively selling the euro on its attempts to recover. There’s nothing overly surprising in that: the single currency awaits the ECB meeting on Thursday and dovish comments are expected from the regulator’s head Mario Draghi.
The pair closed this week's bullish gap very fast. The dip below 1.1330 will make it vulnerable for the decline to 1.1305 and 1.1275. The short-term resistance is located at 1.1350.
EUR/USD fell below 1.1850 after reaching 1.1920 on Monday. The pair consolidated after the initial bearish move.
USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
XAU/USD is eyeing $1 850. Will it be able to reach it?
Asia-Pacific stocks lacked firm direction as momentum faded from the record-setting performance on Wall St, where the S&P 500 and Nasdaq printed fresh all-time highs
Fed's Powell said a slowing recovery and a surging pandemic meant the US was entering a "challenging" few months, with the potential deployment of a vaccine still facing hurdles.