Commodities
Gold Price Hits $4,500, EURUSD Extends Gains Amid Bullish Signals
The gold price rose to $4,500 on September 3, reaching its resistance level and accompanied by EMA50's resistance. This keeps negative pressures valid and threatens gains with a potential rebound if the price fails to breach this resistance.
The emergence of negative signals from relative strength indicators after reaching overbought levels also suggests that gold may be due for a correction. These indicators have formed a negative divergence, which is a bearish sign.
Meanwhile, the EURUSD price extended its gains, supported by positive signals from relative strength indicators. This has led to a breach of a bearish corrective trend line on the short-term basis, indicating the return of the main bullish trend.