XAUUSD: CUP and Handle
The price of gold (XAU/USD) continues to rise for the fourth day in a row, although it lacks strong upward momentum around 1,923 as we enter Tuesday's European session. This lack of momentum can be attributed to the US holidays and a light calendar elsewhere, which has resulted in a sluggish market.
However, traders remain active due to concerns about the global economic slowdown and the state of US-China relations. The recent decision by the Reserve Bank of Australia (RBA) to not raise interest rates for the third time in a row also contributes to the overall market momentum, as it goes against the general consensus.
However, traders remain active due to concerns about the global economic slowdown and the state of US-China relations. The recent decision by the Reserve Bank of Australia (RBA) to not raise interest rates for the third time in a row also contributes to the overall market momentum, as it goes against the general consensus.
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