Forex market reviews

The EURUSD pair hasn’t moved much over the last 6 days. We are locked in a sideways trend, but that doesn’t mean that there’s no action to be seen. Everything is taking place around a crucial long-term support, so it’s no surprise that buyers and sellers are fighting for every single tick here.

I am a huge fan of Gold and I look at this instrument almost every day. Silver lives in its shadow, but that does not mean that I ignore this asset. I most recently analysed this metal on Friday, as the technical situation was very interesting. My price action approach was telling me that we are very close to a major buy signal. The new week started very well, so our view from Friday was spot on.

We start off this Monday with an analysis of gold. The precious metal has started this week on the front foot, and we are currently in bullish territory with a legitimate buy signal.

Worse than expected data from the Eurozone made its mark on the EURUSD pair, gold is looking down at a crucial support again, and after disappointing data from both currencies, the EURGBP pair is adhering to the technicals.