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The 55 Moving Average has acted as support, so there's a 'Hammer' pattern, which led to the current upward price movement. In this case, we should watch the nearest resistance at 1.3519 as the next bullish target. The subsequent pullback from this level could be a starting point for a decline towards the previously tested support at 1.1349 and the Moving Averages.
U.S. stocks are set to open lower Friday, continuing the recent selloff with investors' confidence hit by a combination of pandemic, economic and political worries
European stock markets largely weakened Friday, with investors concerned that the second wave of Covid-19 cases will halt the region’s nascent recovery.
The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
U.S. stocks are set to open lower Friday, continuing the recent selloff with investors' confidence hit by a combination of pandemic, economic and political worries
European stock markets largely weakened Friday, with investors concerned that the second wave of Covid-19 cases will halt the region’s nascent recovery.
XAU/USD formed a “hammer” candlestick on the D1 ahead of the 100-day MA. The price made a higher low on the H4 and now only the resistance at $1 877 separates the precious metal from further gains.
