FX168 Financial News (Hong Kong) - In the European market on Tuesday (November 20), the US dollar seemed to regain some popularity, while non US currencies rose and fell in various ways. At the same time, spot gold continued to hover above the 1220 pass.
For intra day euro 、 pound Orebex wrote a brief analysis of the trend of gold, as follows:
EUR/USD
The euro/dollar continued to rise on Monday, but prices have been struggling around the resistance level of 1.1435/1.1436. Failure to break this level may push down the euro.
We expect the decline of the euro will stop near the 4-hour 20 period moving average, which is a dynamic support level.
On the whole, EUR/USD may remain stable below the above resistance level.
(Euro/USD 4-hour chart source: Orbex, FX168 financial network)
GBP/USD
The pound has successfully rebounded from the support area around 1.2808, and now seems to enter a range.
However, we expect that the preference of the exchange rate is still downward.
If the mood worsens further, the bottom support of 1.2683 may form a downward target. On the upward side, the resistance area 1.3086 will become the top of the range.
(Four hour chart of GBP/USD source: Orbex, FX168 financial network)
gold
The gold price remained stable on Monday as the price closed in the form of a cross star. This may suggest that the rally seen last week was exhausted.
The four hour slow pace random index points to a pullback. At the same time, prices are struggling in the 1224/1223 region.
The downward correction of gold price may lower the price to the initial support of $1213.50, and falling below this level may further lower the resistance level of gold price to the previous $1204.10.
(Gold 4-hour chart source: Orbex, FX168 financial network)
Checked by: Calm down
