EUR/USD technical outlook.
There is little sign of the move lower reversing at this point
Price action looks soft and there is little sign of the move lower reversing at this point. EUR/USD losses through the mid-1.10 area suggest the decline could extend to the 1.1000/05 area now (61.8% retracement of the July rally). Resistance is 1.1095/00.
EDITORS’ PICKS
EUR/USD holds lower ground near 1.1050 ahead of US data
EUR/USD holds lower ground near 1.1050 ahead of US data
EUR/USD came under renewed bearish pressure and declined to near 1.1050 in the European trading hours. Mixed IFO sentiment data from Germany weighs on the Euro, forcing the pair to stay on the back foot. US economic docket will feature consumer confidence data.
EUR/USD News
GBP/USD drops back below 1.2850, eyes on US confidence data
GBP/USD drops back below 1.2850, eyes on US confidence data
GBP/USD is holding steady below 1.2850, having erased early gains in the European session. The pair is dragged down by a renewed uptick in the US Dollar, as markets turn cautious amid mounting recession worries and ahead of US data and key bank earnings reports.
GBP/USD News
Gold stays in daily range above $1,950
Gold stays in daily range above $1,950
Gold continues to trade in a tight range above $1,950 on Tuesday as investors await consumer confidence data from the US. The 10-year US Treasury bond yield clings to small daily gains at around 3.9%, making it difficult for XAU/USD to gain traction.
EUR/USD: Decline could extend to the 1.1000
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