Traders sit stranded as they wait for the Michigan Consumer Sentiment numbers to sail in. Not much change is expected with optimism dropping due to caution surrounding corona. People will await the election result to see what will come of the economic policy for 2021. Expectations show that the MCSI will increase to 80.5 from 80.4 in September. #MichiganConsumerSentiment #CSI #AmericanCSI #RetailSales #USDThe bulls have charged through resistance and looking strong for the day. With the RBA deciding to keep the interest rates on hold at 0.25% we see the AUD/USD hovering around 0.7200. All eyes will be on the Federal Budget where tax cuts are expected to be announced. Technically the pair looks strong to hold its ground above 0.7200 but a fall bellow 0.7115 can be a considered as a break to the downside. #RBA #RBAratedecision #AUDUSD #FederalbudgetEuro is struggling to break support set at 1.1700 after German PMI reports came in mixed. With the dollar continuing it’s run up we can see the sellers taking out 1.1700 and beyond. With Powell due to speak and PMI prints are due keep an eye out for further entrancement to 1.1500. #German #PMIs #PMI #EURUSD #EURO #ACM #asiacapitalmarkets Yes, that’s right, we are giving away free iPhone 11 Pro Max to new traders. Terms and conditions apply. Don’t miss this opportunity! Sign up now!Just when you though it couldn’t go any hire the bulls line the street and take charge picking up everything around the $2000 mark. Already on an 8 week rally, bullish traders take bids near $2020. Once again proving to be the safe haven for traders and investors alike, the yellow metal has risen more than 32% for the year thus far. Although it has broken through the psychological barrier of $2000 a correction is most likely to come. I would look at the a support level of $1875 to be hit first and a break beyond that see $1830 as the next target. But with this in mind, overall the metals long term outlook still remains bullish.The US’ manufacturing sector performs better than the market expectation of 53.6. Beating June’s PMI’s performance of 52.6 and rising to 53.6. So far we see the market reacting positively by pushing the currency to 93.75.After strong rallies and hitting levels never seen before, gold hold steady around $1940-$1945. Not much has changed since our last update. The US and China tension and the increase in COVID-19 cases has given the precious metal a cushion to lay on. Key Technical levels For the Bears A look at the previous high at $1921.14 would be the early target. For the Bulls To the upside, the immediate hurdle is around $1937. Should Gold hold above that look to target the current all time high of $1944.74. A break past this may see a run to $1950.  
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       With the greenback recovering amid rumors of another Corona wave along with the global economic downfall, the Aussie breaks its upward momentum and gives the bears a moment to breath. Falling below 0.6800 from a high of 0.6923, the situation seems bleak for the currency. With the China/US trade dispute and Australia having its own conflict with China, the medium term outlook has the bears sipping fish cocktails and the bulls running through a maze of uncertainty. The US dollar traded lower against all of the European currencies on Tuesday ahead of the Federal Reserve’s monetary policy announcement.

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