Analysis Technical analysis

The Daily Markets Watch: USOIL, GOLD & EURUSD (03.12.21)

Oil continued its relief rally despite OPEC+ agreeing to keep production elevated. The WTI is up nearly 2% and looks set to hit $70 before any major signals in what seems to be a relief rally.

Gold remains under pressure below $1800 but it’s mixed so far intraday as traders patiently wait for the NFP to confirm employment in the US is solid. Will $1762 hold or give in, opening the room to $1700?

Euro is not doing much better as it trades close to the open today. However, after a bounce at the 62% Fibonacci, it might move higher intraday pre-release, if bulls manage to get past $1.13 that is.

Trade with an award-winning STP broker! Lowest spreads on the market for Forex, Precious Metals, Energies, & Crypto. No re-quotes, no rejection of orders & instant withdrawals.

Share this on: