[Video] Gold to shine again? Euro stalls below 1.20

With the US dollar index finding support at its 100-day eMA, it provides the potential for near-term strength for the greenback.

Gold 2

Of course, this requires Friday’s low (which respected the 100-day eMA) to remain unchallenged. We have a busy calendar this week including an FOMC meeting which will include the first dot plot and staff forecasts of the year. And this leaves USD markets vulnerable to pockets of volatility.

So today we look at key levels for gold and EUR/USD as they remain sensitive to the dollar’s movements. And we also take a look as AUD/NZD which is once again suggesting a swing high could form around a historical resistance zone.

S&P 500 (0.10%) 12 March 2021

  • The index closed -0.43% below its 52-week high
  • 287 (56.83%) stocks advanced and 215 (42.57%) declined             
  • Real Estate (1.5%) was the strongest sector and Communication Services (-0.9%) was the weakest
  • 9 out of the 11 sectors outperformed the index
  • 85.54% of stocks closed above their 200-day average     
  • 74.26% of stocks closed above their 50-day average        
  • 78.22% of stocks closed above their 20-day average        

View recent videos: 
Nasdaq to close the gap with Wall Street peers?
Record high for the Dow, euro perks up ahead of ECB
A pivotal moment for gold and CHF?

More from Forex

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

Open an Account