Gold delivered a bullish move on Tuesday.
Gold had been unable to close above the 1430 level as it has been working through the triangle consolidation. However on Tuesday gold not only closed above the 1430, but it also closed above the declining trend line. Barring a reversal back into the triangle like we saw on day 13, closing above the declining trend line will have us label day 17 as the daily cycle low.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
AUD/USD maintains its constructive bias above 0.6600
Further weakness in the US Dollar prompted AUD/USD and the rest of the risk-associated space to regain some balance and surpass once again the key barrier at 0.6600 the figure.
EUR/USD finds thin gains on Monday, but technicals weigh heavy ahead of US inflation updates
EUR/USD found slim upside on Monday, climbing from early bids near 1.0770 but bullish momentum remains limited with the pair struggling to break above the 1.0800 level.
Gold loses its bright amid mixed market mood
Gold prices retreated sharply on Monday from near $2,350 even though US Treasury yields declined, undermining appetite for the Greenback. Traders brace for a busy economic docket in the United States. The XAU/USD trades around $2,336, down 1% amid a risk-on impulse.
Ethereum trades horizontally as institutional whales dump heavily on Coinbase
Ethereum sustained its weekend sideways movement on Monday following a quiet market. However, institutional whales have been depositing the largest altcoin to Coinbase as ETH products also recorded $14.4 million in outflows last week.
Dow Jones Industrial Average stumbles on Monday after consumer inflation outlook rises
DJIA kicked off the new trading week softly higher before getting knocked back after the Federal Reserve Bank of New York revealed that consumer inflation expectations for the coming year accelerated to 3.3%.