The S&P 500 has initially tried to rally during the session on Friday, but fell significantly to reach towards the 2460 level. The NASDAQ 100 has pulled back during the day on Friday but turned around to form a hammer as well.
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Gold prices settled at $1254.70 an ounce on Friday, gaining 2.07% on the week, as recent volatility in global equity markets and new worries about U.S. politics lent support to the precious metal.
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The EUR/JPY pair respected the support level at 128.50 for many sessions lately, which supports continuing the upward momentum, the pullback was only due to profit taking.
Friday is the third bearish session of the USD/JPY settling below 112.00 level, with the negative affect on the USD from Trump policies.
Like the case in the previous technical analysis, we still expect that any gains for the pound will be a new sell opportunity.
As expected earlier any gains of the GBP will be a selling opportunity, because the British economic sectors are producing unstable results and always affecting negatively, in addition to the renewed fears of a hard BREXIT.
Gold prices rose $3.39 an ounce on Thursday, benefitting from a drop in the U.S. dollar index.