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

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 […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet