EUR/USD Price Analysis

Posted by freemexy on January 26th, 2021

EUR/USD takes offers near 1.2065, down 0.10% intraday. In doing so, the currency pair drops to the fresh low since early December 2020 while stretching Fridays downside break of 50-day SMA.To get more news about WikiFX, you can visit wikifx official website.
　　In addition to the successful break below 50-day SMA, descending RSI line, which is far from oversold conditions, also back the EUR/USD bears in attacking 38.2% Fibonacci retracement of an upside from November 2020 to the monthly high.
　　During the EUR/USD upside beyond 1.2130, the previous months top near 1.2310 and the monthly peak surrounding 1.2350 can lure the bulls.
Gold prices inched higher on Tuesday after hitting a 1-1/2-month low in the previous session, as hopes of further global stimulus to stem the economic toll from the COVID-19 pandemic countered a firmer dollar.
　　FUNDAMENTALS
　　Spot gold rose 0.1% to ,838.51 per ounce by 0039 GMT. On Monday, prices had dipped to their lowest since Dec. 2 at ,809.90. U.S. gold futures GCv1 gained 0.4% to ,836.50.
　　The U.S. dollar hit a four-week high against rival currencies in the previous session.