technical

The EUR/USD pair trades at around 1.1800 for the first time since last February, as optimism heavily weighs on the US Dollar (USD) demand.

The GBP/USD pair is seen building on the previous day’s strong move up of around 125-pips and gaining some follow-through traction on Tuesday.

Gold is clinging to recovery gains above $4,750 early Tuesday, capitalizing on hopes for diplomacy between the United States (US) and Iran. However, concerns over the Strait of Hormuz still pose a downside risk for the bright metal.

Another week begins with the same quiet tell hiding in plain sight. After a weekend drenched in alarm bells and worst-case chatter, liquidity is thin, and emotion is doing most of the pricing. Buy the Asia open dip. That is your signal.

The Aussie Dollar’s continuous rebound seems to have strengthened in the last few days, giving bulls back control and paving the way for AUD/USD to perhaps test the upper end of its annual range sooner rather than later.

Spot Gold trades with a sour tone on Monday, although still confined to a tight range just above the $4,700 mark. The bright metal is indifferent to mounting fears, after the United States (US) and Iran negotiations failed over the weekend.