Richard Perry
Independent Analyst
What are the key levels to watch on gold?
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EUR/USD eases below 1.0900 amid cautious mood
EUR/USD has erased gains to trade on the back foot below 1.0900 early Tuesday. The pair treads water amid a cautious market mood, as traders weigh the US political updates and China slowdown worries. The US Dollar remains subdued, in the absence of top-tier economic data.
GBP/USD drops toward 1.2900 as US Dollar looks to stabilize
GBP/USD is dropping toward 1.2900, lacking firm direction in European trading on Tuesday. The US Dollar looks to stabilize after the early decline, weighing on the pair. Traders await mid-tier US housing data for fresh trading impetus.
Gold's struggle with $2,400 extends amid market caution
Gold price is making another attempt to reclaim $2,400 on a sustained basis, replicating the moves seen during Monday’s Asian trading. Gold price appears to be benefiting from a typical market caution and renewed China’s economic worries and ahead of key US earnings reports.
Bitcoin finds support around the $67,000 level
Bitcoin and Ripple prices are holding steady around their respective weekly and daily support levels, hinting at an imminent rally. Meanwhile, Ethereum is encountering resistance at the $3,530 mark; a decisive close above this level would signal a bullish breakthrough.
Earnings review
While Nvidia’s results are still extremely important for overall sentiment, there is a hope that sales growth and revenues can pick up across a broad range of global markets and sectors.