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Gold prices rose $22.13 an ounce yesterday, recovering most of last week's losses, on speculation that the U.S. Federal Reserve will not hint at a June rate hike at its two-day policy meeting which starts later today.
The EUR/USD pair went back and forth during the day on Monday, essentially settling nothing. By doing so, it only adds to my interest in selling this pair as I believe that the upward momentum is running out of space.
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The AUD/USD pair broke higher during the day on Friday, but did not break out to a fresh, new high. After all, there is a significant barrier all the way to the 0.80 level as far as I can see, and with that I have no interest in buying this market.
The EUR/GBP pair initially tried to break out during the session on Friday, but struggled at the 0.72 level again. By doing so, the sellers stepped in and took control, pushing this market much lower.
The GBP/USD pair broke much higher during the course of the session on Friday, clearing the top of the hammer that had formed on Thursday. More importantly, and broke above the top of the spike that had formed in the middle of March.