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Gold Reaches a Week High

Gold touched its highest level in a week on Monday, November 16, in light of the dollar’s decline, while the escalation of Coronavirus cases in the United States fueled concerns about the repercussions of the pandemic on the economic recovery, which supported hopes for more monetary stimulus. The spot price …

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Chinese Industrial Production Rose 6.9% in October YoY

Chinese industrial production rose faster than expected in October, while retail sales continued to recover, albeit at a slower pace than expected, as the world’s second-largest economy emerged from the recession that accompanied the spread of the Coronavirus. Data from the National Bureau of Statistics showed that Chinese industrial production …

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GBP/JPY Rises Gradually

Positive trading returned to dominate pound’s movements against Japanese yen, benefiting from the 137.10 support floor, heading towards re-testing the 138.30 resistance level. Technically, we lean towards negativity given that trading remains above 137.60 with positive catalysis from the 50-day moving average. From here, we target 138.65 as a first …

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Gold Trying to Recover

We remained neutral in the previous analysis due to the conflicting technical signals, with activation of long positions depends on confirming the breach of 1886, and from here we may witness a re-test of the previously broken support-into-resistance 1901, posting a high at 1899. Technically, looking at the 240-minutes chart, …

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