EUR/USD: Short-Term Correction Is Underway
Good day,
The price of the EUR\USD pair has pulled from the level of 1.1909, targeting the uptrend away from which it might jump.
The price of the British pound has pulled from a very strong horizontal and psychological level of 1.3200, forming a bearish engulfing. The GBP/USD pair should gradually approach the uptrend anytime soon.
The price of gold got back to the psychological supporting level of 1900.00 therefore the asset might soon jump. It might also break the level of 1900.00 through and drop. So far, it seems that gold might jump so let us wait and see what happens next.
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Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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