The price of gold may attempt to retrace the decline from the record high ($2943) as long as the RSI holds in overbought territory.
EUR/USD retraces the decline from the start of the week as Federal Reserve Chairman Jerome Powell reiterates that ‘we do not need to be in a hurry to adjust our policy stance.’
EUR/USD snaps back ahead of the January low (1.0178) to extend the rebound from the weekly low (1.0211).
The price of gold rallies to a fresh record high ($2844), with the ongoing rise in bullion pushing the Relative Strength Index (RSI) into overbought territory.
EUR/USD starts to carve a series of lower highs and lows as it slips to a fresh weekly low (1.0360).
The price of gold trades to a fresh record high ($2799) following the limited reaction to the Federal Reserve interest rate decision.
EUR/USD trades near the weekly low (1.0382) ahead of the European Central Bank (ECB) meeting as the Federal Reserve keeps the US benchmark interest rate at 4.25% to 4.50%.
EUR/USD pushes above the 50-Day SMA (1.0444) for the first time since October as it climbs to a fresh monthly high (1.0457).
The price of gold snaps a three-day rally to hold below the December high ($2726) ahead of the inauguration of US President Donald Trump.
The recovery in the price of gold seems to have stalled ahead of the December high ($2726) as it no longer carves a series of higher highs and lows.
EUR/USD may continue to track the negative slope in the 50-Day SMA (1.0495) as it pushes below the opening range for January.
The price of gold may attempt to further retrace the decline from the December high ($2726) as it extends the series of higher highs and lows from the start of the week.
