Two trades to watch: EUR/USD, Gold
Fiona Cincotta February 25, 2021 6:52 PM
EUR/USD eyes 1.22. Gold under pressure amid upbeat market mood.
EUR/USD eyes 1.22
Where next for Gold?
Gold trades below it a descending trendline on the 4 hour chart which dates back to the start of the year. However a pick up from lows of 1760 last week has seen the formation of a symmetrical triangle suggesting a break out could be on the cards.
Bulls will be looking for a move over 1810, the upper side of the triangle before turning attention to 1815 the weekly high. A break above here could see the bulls gain momentum and test horizontal resistance at 1845 ahead of 1855.
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