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The above chart shows hourly price action. Key resistance may potentially be at the confluence of factors including the central pivot (P), price congestion resistance (green rectangle) and the 50% retracement level. The stochastic needs to move to more seller friendly areas (green ellipse). A pullback in the EURUSD may create a “sell the rally in a downtrend” opportunity.
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EUR/USD stays sidelined below 1.1150 ahead of EU inflation data
EUR/USD struggles to gain any meaningful traction and treads water below 1.1150 in the European session on Tuesday. The pair stays on a slippery slope, as the US Dollar clings to recovery gains while the Euro remains wary of the October ECB rate cut ahead of the key EU inflation data.
GBP/USD trades with mild losses below 1.3400 ahead of US ISM PMI
GBP/USD trades on the back foot below 1.3400 in the European trading hours on Tuesday. Fed Chair Powell's less dovish remarks and a cautious mood keep the US Dollar underpinned ahead of US ISM Manufacturing PMI, JOLTS Job Openings and Fedsepak.
Gold price sticks to modest intraday gains, remains below record peak touched last week
Gold price (XAU/USD) regains positive traction on Tuesday and for now, seems to have stalled a two-day-old corrective slide from the all-time peak touched last week.
Three reasons why SUI could continue its ongoing rally
Sui is extending its gains, trading at $1.9 at the start of the new month after a sharp rise last month. This bullish momentum could continue, driven by a new all-time high in Total Value Locked, rising open interest, and an uptick in daily active addresses.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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