Gold has been holding a firm tone, remaining near its new all-time high as it awaits the release of the US PCE data. The metal’s strong position is attributed to factors such as strong demand, geopolitical tensions, and expectations for the Fed’s first rate cut in September. With a gain of approximately 22% since the
Technical Analysis
The euro has faced strong resistance at the 1.12000 level, leading to a correction down to 1.1100. This level has previously acted as support for the pair, creating a range-bound trading pattern between 1.1200-1.1090. The upcoming trading sessions hold the potential for different scenarios based on key technical and fundamental factors. If the price breaks