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.
GBP/USD tries to recover
Information is not investment advice
There’s a bullish divergence on the daily chart of GBP/USD. The pair is currently testing levels above 1.2560 (May low). If the US Federal Reserve is dovish, the pound will be able to get to 1.2650 area (100- and 50-period MAs on H4). However, given the political risks, it will be hard for the British currency to get higher. As a result, it will be sensible to look for sell opportunities there.
Aggressive traders may buy on the break above 1.26 targeting 1.2650.
Notice that given the meetings of the British and American central banks the risks are higher than usual.
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.
The amount of problems caused by the coronavirus pandemic is huge…
Ichimoku Kinko Hyo CAD/JPY: The pair is trading below the cloud…
Fibonacci Levels XAU/USD: Gold facing a further consolidation above 23…