technical

Gold keeps on making higher highs on the daily time frame, sitting close to fresh record highs below $4,200 early Wednesday.

EUR/USD found its footing on Tuesday, climbing back above the 1.1600 mark after starting the week on the back foot. The recovery came as the US Dollar (USD) lost some momentum and Treasury yields drifted lower, all while renewed US–China trade tensions kept markets on edge.

Spot Gold reached $4,179.76 a troy ounce on Tuesday, a fresh record high. The XAU/USD pair currently hovers in the 4,140 region, holding on to solid intraday gains amid risk aversion taking over financial boards.

The Australian Dollar (AUD) couldn’t find much traction on Tuesday, slipping further as the US Dollar (USD) kept up its recovery. Fresh jitters over US–China trade relations also soured sentiment toward the Aussie.

The EUR/USD pair trades with a soft tone on Tuesday, hovering a handful of pips above a multi-week low of 1.1542.

You can see that we have gapped higher to kick off the trading week on Monday as you would expect now that the bat between the Americans and the Chinese might be over. We just don’t know. We’ve actually seen a calming of tensions from both sides. So that’s a good sign. I think basically,…