The pair has fully formed the descending flag trend continuation pattern. It’s supported by the increased demand for risk assets, the revitalization of China-Australia trade, as well as the possible weakening of the US dollar amid the unprecedented stimulus measures by the Fed and the US Treasury.
Technical side: …
The US dollar fell during the Asian session to witness its lowest since April 15, when it tested the lowest since the beginning of this month against the Japanese yen after the developments and economic data that were reported by the Japanese economy and amid the scarcity of economic data …
Gold price futures fluctuated in a narrow range tilted back down during the Asian session, tolerating the US dollar index rebound for the second consecutive session from its highest since April 6, when it tested the highest since March 26, according to the inverse relationship in the aftermath The decisions …
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