The Australian Dollar continues to drive higher on improved market sentiment. AUD/USD is quickly approaching its 2020 high. Bearish RSI divergence from the prior high has formed, but bulls look…
Gold prices could claw back lost ground ahead of the non-farm payrolls report for November, buoyed by a dovish FOMC, falling real yields and rising inflation expectations.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bullish contrarian trading bias.
Gold plunged nearly 10% off the November high with a third weekly breakdown testing four-month lows. Here are technical levels that matter on the XAU/USD weekly chart.