EUR/JPY drops further and challenges the key 200-day SMA.Below the latter, the cross could risk a deeper retracement.
EUR/JPY extends the bearish move well south of the 134.00 mark on Tuesday.
In the meantime, price action in the cross remains entrenched in the negative territory, losing ground for the fourth consecutive session so far.A break below the key 200-day SMA, today at 133.69, carries the potential to accelerate losses and shift the outlook to negative.
Immediately to the downside now emerges the May low at 132.65 (May 12).
EUR/USD stabilizes above 1.0200, eyes on geopolitics
EUR/USD has stabilized above 1.0200 heading into the American session following the earlier decline. Escalating US-china geopolitical tensions cause investors to stay away from risk-sensitive assets. The US economic docket will feature JOLTS Job Openings data.
GBP/USD recovers modestly, trades above 1.2200
GBP/USD has managed to erase a small portion of its daily losses after having briefly dipped below 1.2200 earlier in the day. The risk-averse market environment doesn’t allow the pair to gain traction as investors await developments surrounding US-China relations.
Gold rises toward $1,780 as US yields edge lower
Gold has gathered bullish momentum and climbed toward $1,780 during the first half of the day on Tuesday. The benchmark 10-year US Treasury bond yield continues to edge lower amid risk aversion, helping XAU/USD push higher.
Dogecoin price to provide positional traders a discount to buy DOGE before a 90% rally
Dogecoin price is at crossroads and shows signs of a steady consolidation above a stable support level. However, there needs to be momentary pain before a long-term and explosive rally originates.