XAUUSD getting smacked… not sure if this is the case but when other markets sell-eff those looking to cover or offset losers or free up margin look to close winners elsewhere.
See my earlier post about looking tired and key support level.
More logical to see USDJPY below 150 than above but would need to get through a 149.20 double bottom and 148.84 low to put fresh pressure on the downside.
While 150 is clearly pivotal, only above 150.73 would negate the downside risk.
A look at the day ahead in U.S. and global markets from Mike Dolan
Rancorous geopolitics continues to grab most headlines again this week, but it’s creeping anxiety about a slowing U.S. economy that’s unnerving investors most about Wall Street stocks.
Wary of Wednesday’s results from megacap chip giant Nvidia (NASDAQ:NVDA), the S&P500 lost its 6,000 handle for the first time in three weeks on Monday and both the tech-heavy Nasdaq and small cap Russell 2000 are now negative for the year to date. Morning Bid: S&P500 loses 6,000 handle amid U.S. slowdown fears
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