I am using the IAU ETF as my trading instrument to represent the Gold spot market. Looking at the Fibonacci retracement starting from the 2016 low of $20.44 and extending to the August 2020 high of $39.14, we see that the top two retracement levels are in play. The 38.2% level tends to be the most common for handy support and resistance levels. We saw price...
The EUR/USD is currently testing the top part of a short-term bearish price channel. It would not be a surprise to see the price break out of this channel, considering the slope of the downward trend. Therefore, I would not consider it a strong bullish signal, but it can still be a signal to go long. I would perhaps wait for a close and then a couple of bars...
