Fundamental

The silver market has proven itself to be far too dangerous for the average retail trader, and the markets are likely to be a very dangerous place to trade at the moment.

Bitcoin continues to look very weak and vulnerable at the moment.

Following Tuesday’s short-lasting recovery, EUR/USD moves sideways in a narrow channel above 1.1800 in the European morning on Wednesday. While investors await key data releases, the technical outlook points to a lack of seller interest.

Gold is extending the rebound from monthly lows above the $5,000 threshold in Asian trades on Wednesday, having booked the biggest daily gain since 2008.

Despite the sharp pullback seen recently, the broader EUR/USD story still looks intact. The pair continues to eye the area around the yearly highs near 1.2100, helped by a loss of momentum in the so-called “Warsh trade”.

Spot Gold managed to recover ground after falling sharply for two days in a row, trading well above the $4,900 mark in the American session on Tuesday. The US Dollar (USD) lost its recent momentum, although losses against other currencies are limited.