Fundamental

The Euro (EUR) lost momentum on Wednesday, pulling EUR/USD down toward 1.1820 and snapping a four-day winning streak that had carried the pair to multi-year highs around 1.1920.

Gold is licking its wounds near $3,650 in Thursday’s Asian trades, having stalled its pullback from fresh record highs of $3,707 reached in an initial reaction to the US Federal Reserve (Fed) policy announcements.  

Gold prices stand near the recent record high at $3,703.20 a troy ounce,  trimming early losses. The US Dollar (USD) found some modest demand throughout the first half of the day, but gave it up as the Federal Reserve’s (Fed) monetary policy decision looms.

The EUR/USD pair corrected lower after hitting a 4-year high as traders digested the Fed’s 25bp rate cut, but the bullish outlook toward 1.2000 remains intact.

Gold (XAU/USD) stays bullish after the Fed’s rate cut, with traders watching $3,560 support for new buy opportunities and resistance targets at $3,710–$3,760.

Polkadot (DOT) is pressing $4.52 resistance with bullish momentum, but the next daily closes will decide if it breaks toward $4.60–$5.00 or slides back toward $4.30.