Analysis based on modified Elliot Waves, Fibonacci retracement, and price channels
The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. Stochastic Oscillator signals an oversold condition. The inclined channel of the descending pattern is breached. The breakout of 0.7287 will result …
Monday, March 1st, today’s news—Treasury yields are down, global markets rise. Pan-European Stoxx 600 is up 1.7%, Dow rises 300 points, oil is up amid the US stimulus package progress, dollar is down, riskier currencies in demand. The price of Brent oil is $65.40, WTI—$62.42, EUR/USD is at 1.2031, GBP/USD—1.3935, gold is …
Gold futures contracts rose by nearly 1 percent during the Asian session, to witness their rebound for the second session from the lowest since June 15, 2020 amid the US dollar index rebounding to the second session since February 18, according to the inverse relationship between them following developments and …
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