EUR/USD And GBP/USD Rallies, Gold Price Breaks Key Hurdle

Key Highlights EUR/USD started a strong rally above the 1.1750 and 1.1800 resistance levels.

GBP/USD surged above 1.3050, gold price climbed higher sharply towards $1,960.

The US nonfarm payrolls increased 638K in Oct 2020, more than the market forecast of 600K.

The Euro Area Sentix Investor Confidence could improve from -14 to -8.3 in Nov 2020. EUR/USD Technical Analysis The Euro formed a support base near 1.1600 before starting a fresh increase against the US Dollar. EUR/USD surged above 1.1800 and traded to a new two-month high. Looking at the 4-hours chart, the pair gained pace after it broke the 1.1750 resistance and a connecting bearish trend line. There was a proper close above the 1.1800 zone, the 100 simple moving average (red, 4-hours), and the 200 simple moving average (green, 4-hours).The pair even climbed above the 76.4% Fib retracement level of the downward move from the 1.1880 high […]

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