How to profit from rising wedge pattern – Day trading SP 500 [Video]

EUR/USD sets aside part of the recent sharp sell-off, gathering fresh steam on the back of the intense downward bias in the US Dollar. The Greenback’s marked pullback comes on the back of renewed concerns over the Fed’s independence, all ahead of Tuesday’s key US CPI data release.

GBP/USD kicks off the week on a firmer note, retracing part of its recent pullback and turning its attention back to the key 1.3500 level. The pair is being supported by renewed weakness in the Greenback, after fresh criticism from the US administration directed at Fed Chair Powell revived concerns about the Federal Reserve’s independence.

Gold rallies to new record high past $4,600 on Monday due to safe-haven flows courtesy of the US Department of Justice, which presented charges against the Federal Reserve Chair Jerome Powell over the building’s renovations. At the time of writing, XAU/USD trades at $4606, up more than 2%.

Bitcoin treasury and financial intelligence company Strategy stepped up its accumulation of the top crypto last week after it purchased 13,627 BTC for $1.25 billion, its largest buy since last July.

Federal investigation of Powell and the Fed knocks risk sentiment. Concerns grow about Fed independence as gold hits a record. Are markets expecting Trump to scale back his rhetoric?

Monero hit a new all-time high of $598 on Monday as interest in privacy-focused coins grows. Retail traders lean into risk as XMR’s derivatives market strengthens, with futures Open Interest swelling to $177 million.