Market Focus: Forex Majors – Gold – Bitcoin – Oil

สิงหาคม 5, 2020
by Joseph Jeffriess, Market Analyst

Hi traders, today we run over the risk majors to the USD, USDCAD, Gold, BTC and Oil.

The USD continues its descent lower after what was a very brief fightback in yesterday’s London session.  Talk of further/new stimulus a factor to sellers maintaining their drive on the USD. Will we see the A/$ test or break back in the .72 handle? Will we see the E/$ and G/$ get back to testing their late July highs?

Gold just goes from strength to strength, after yesterday’s spike we have seen price reach $2036 in today’s session. Bitcoin hasn’t seen the same type of drive gold has been showing but buyers have started to gather momentum after sellers failed at demand. Will we see a new test of 11,365?

Oil shook off weakness yesterday to post a 2.25% fightback on the 12H bar. If momentum can continue will we finally see a break of $42.20 resistance?

 News to come:

10:30 pm AEST US ISM Non-Manufacturing PMI

Today’s Market Analysis Video


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