Gold edged slightly higher on Tuesday as a retreat in the U.S. dollar helped lure buyers back into the market after the previous session's 1.65% slide.
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Get the USD/CAD Forex signal for May 11, 2016 here.
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Get the EUR/USD Forex signal for May 11, 2016 here.
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I highlighted yesterday a potential short trade set-up on the USD/JPY currency pair. The idea was based upon waiting for the price to reach the level of 108.72 which is the 50% Fibonacci retracement of the recent strong downwards move.
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Get the USD/CAD Forex signal for May 10, 2016 here.
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Check out our daily Forex signal for the GBP/USD pair for Tuesday, May 10, 2016
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Get the EUR/USD Forex signal for May 10, 2016 here.
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Gold prices fell 1.65% on Monday to settle at their lowest level since April 29 as the strengthening U.S. dollar continued to put downward pressure on the market.
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The EUR/USD pair initially rallied during the day on Monday, but then turned right back around to form a bit of a shooting star. The GBP/USD pair went back and forth during the course of the day on Monday, as the market tested the 1.44 handle.
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