Don’t waste your time – keep track of how NFP affects the US dollar!
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There's a possible 'Triple Top' pattern, so the price is testing the 34 Moving Average line. Also, we've got a 'Thorn' pattern, which brings more evidence for the bullish outlook. In this case, we should keep watching the next resistance at 1.0000 - 1.0009 as a potential target for the ongoing upward correction. The subsequent pullback from this area could be a departure point for a downward price movement towards the closest support at 0.9925 - 0.9904.
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
The JPY is the strongest and the NZD is the weakest. Jump in for the fresh analysis!
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
