The overall trend is upward. The currency pair is trading in the range of the lower limit of the ascending price channel. The descending pattern is truncated. A Bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversold conditions.
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The pair is trading above the 1.1950 level. If the US employment data turns out to be worse than expected, and the growth in government bond yields continues, this will put pressure on the pair.
Technical side:
The price is located below the middle Bollinger band, below SMA 5 …
Futures contracts for gold prices fluctuated in a narrow range that tends to decline during the Asian session, to witness the lowest since the eighth of June 2020, overlooking the rebound of the US dollar index from its highest since the beginning of December 2020 according to the inverse relationship …
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