|Day's range||1,446.20 - 1,461.30|
The British pound has gone back and forth during the trading session on Tuesday, dancing around the ¥140 level. After the recent explosion to the upside, it makes sense that market participants may need to take a break.
Investing.com – The greatest trade distraction of the century remains alive, markets heard Tuesday, prompting safe-haven gold to climb a few notches in afterhours trade.
Based on the early price action and the current price at 1.1018, the direction of the EUR/USD the rest of the session on Tuesday is likely to be determined by trader reaction to the resistance cluster at 1.1029 and the downtrending Gann angle at 1.1016.
We’ll find out later today when the midday forecasts come out if today’s early strength is being driven by a shift in the weather pattern toward colder temperatures. However, we do know that the market is bouncing off a technical support area.
Mobile crypto wallet and investment app Abra is adding a host of new coins and doubling its U.S. bank deposit limits for U.S. customers.
The GBP/USD made a strong bullish bounce at the 144 ema close, which could indicate the completion of a bearish ABC (orange) correction and a potential restart of the uptrend.
The direction of the December Comex gold futures contract on Tuesday is likely to be determined by trader reaction to Monday’s close at $1457.10.
Investing.com - U.S. futures were slightly higher on Tuesday as investors waited for a keynote speech from U.S. President Donald Trump that's likely to include comments on trade policy with regard to both China and Europe.
Investing.com – Gold is edging further away from the $1,500 mark, raising questions about the near-term bull case for the yellow metal, which is now at three-month lows.
Gold seems to be ripe for a short-covering rally after last week’s steep loss. Today’s news events may be just enough to chase a few of the weaker short sellers out of the market.
Investing.com - Oil prices fell on Monday, amid renewed doubts over the prospect of tariff rollbacks in the protracted U.S.-China trade war, while concerns about oversupply also weighed on sentiment.
This current market environment is very reminiscent of the 2006-08 market environment where price rotated into weakness on technicals and continued to establish new all-time price highs in the process – creating what we are calling a “zombie-land melt-up”.
Investing.com - Gold prices were little changed on Monday in Asia as markets largely shrugged off fresh violence in Hong Kong and uncertainty surround the U.S.-China trade negotiations.
According to regression models and historical precedent, the upcoming bitcoin halving will boost the market price. So why isn’t that already priced in?
Gold traders are going to continue to follow the movement in Treasury yields and the direction of the U.S. Dollar next week. Of particular interest will be the 10-year U.S. Treasury bonds reaction to the 2.06 percent yield. Taking out this level could trigger a steep break in gold.
Traders should be prepared for another gap opening on Monday. The direction is unknown because it will depend on the forecasts from over the weekend.