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/USD will have a busy week
Information is not investment advice
With the Federal Reserve’s meeting and the release of Nonfarm Payrolls, EUR/USD is going to have an active week. Last week, it turned down from the 100-day MA and closed below 1.11 on Friday. On Monday, we witness a recovery in the euro. However, sellers will likely re-emerge between 1.11 and 1.1117 (50-period MA on the H4). The downside targets lie at 1.1055 and 1.1035 (50-day MA). Only the rise above 1.1130 will open the way up to 1.1150 and then possibly 1.1185/1.1200.
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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