Gold Price Surges as Bullish Trend Dominates Market
The gold price surged higher during its latest intraday trading session on August 25th, as it continued to trade above its 50-day moving average (EMA50). This move was fueled by a positive divergence formation on relative strength indicators, which emerged after reaching exaggerated oversold levels. The dominance of the main bullish trend on the short-term basis further intensified the momentum around the price.
The EURUSD pair also rose in its latest intraday sessions, supported by the emergence of positive signals from the relative strength indicators. It settled at 1.1650 support level and continued to trade above EMA50, reinforcing the stability of the bullish trend on the short-term basis. The dominant bullish trend on the short-term basis further intensified the momentum around the price.