
Which currency does have a higher potential for further growth? EUR? USD? Let's find out!
Don’t waste your time – keep track of how NFP affects the US dollar!
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On one hand, the gold intraday range is broad, on the other hand, its week range is narrow. What’s the reason?
On April 6 XAU/USD dropped dramatically. The first reason is that most countries have started to ease their lockdowns and slowly reopen their economies, what gets the risk appetite up, though the number of coronavirus cases continues to rise. Another reason is the strong US dollar.
As we can see at the chart below the 50-period moving average crossed the 100-period moving average upside down, that was the signal to sell. The gold price fell below 1690, but it’s still above the 200-period moving average. The most probable scenario that it may touch the recent low on 1672, reverse and move up after the short pullback. We know from the past, when gold volatility falls but gold prices do not follow, it will lead to further rally up. The resistant line is 1705.
Which currency does have a higher potential for further growth? EUR? USD? Let's find out!
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Ichimoku Kinko Hyo CAD/JPY: The pair is trading above the cloud…
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.
Ichimoku Kinko Hyo GBP/JPY: The pair is trading below the cloud…
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