Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Gold exceeded $2.000 per ounce
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair has eliminated the key levels of Tenkan Sen and Kijun Sen. Further pressure of the bears will push prices even to lower ground.
XPD/USD: Palladium is now testing the key Fibonacci retracement level at 50%. If the bulls manage to withstand the sellers’ pressure, the commodity will move even higher, with stronger bullish implications.
US Market View
Stock futures rose on Wednesday as investors awaited further updates on stimulus talks. In addition, another batch of economic data reports and corporate earnings are about to be released. Nasdaq index logged a 5th straight session of gains and Dow rose for a 3rd day in a row. Gold exceeded $2.000 per ounce.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?
First, "ETH merge" Google requests are on the rise. At the same time, "buy ETH" requests are at their two-year lows, which is quite a negative factor ahead of the vast update. The community either doesn’t believe in the success, or they are following the "buy the rumors – sell the news" rule and waiting for the massive dump after the merge.