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Despite a little decline in price today, gold continues to rise on the daily chart and remains above the significant 100-day Exponential Moving Average (EMA). Since May 10, gold has maintained its breakout above a declining trend channel. The 14-day Relative Strength Index (RSI) is above the 50-midline and in the positive zone, indicating that […]

During Wednesday’s European session, the EUR/USD pair recovered some of the ground that it had lost. In the wake of Fed Chair Powell’s dovish remarks, the US dollar has begun to weaken again, which provides support for the pair. Gazes shift to Fed Minutes and US ADP statistics. The EUR/USD pair is trading marginally higher

Gold is experiencing downward pressure as it trades below the 50-day SMA on Tuesday. Last week, XAU/USD broke above a trendline connecting the “Head” and “Right Shoulder” of a previously invalidated Head and Shoulders (H&S) pattern formed between April, May, and June on the daily chart. While the possibility of a more complex bearish “multi-shouldered”

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