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Market Focus: FX – Gold – Bitcoin

jeffriess
สิงหาคม 3, 2020
by Joseph Jeffriess, Market Analyst

Hi, traders, today we run over risk majors to the USD, Gold and Bitcoin from their daily charts.

The USD has seen a choppy session so far with early gains evaporating only to come back. Momentum remains mixed at the moment with gains seen to the AUD and EUR while the GBP remains flat moving into today’s European session. After some solid rallies, are small signs emerging that we could be headed to a pullback?

Gold remains held back by 1975.75 resistance and supply runs up to 1981.75. We look at what we would like to see from buyers to show that momentum remains on the buy-side. If sellers can push a new minor move lower will we see new demand continue from 1947?

Currently, Bitcoin is showing more buyer confidence after a test lower buyers hold a 2+% gain from the mornings low. Buyers have 11,335 resistance to beat and we see support/demand from 10,960.

 News to come;

No key data scheduled, Canadian bank holiday.

Today’s Market Analysis Video

 

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