Gold markets have gone back and forth during the trading session on Monday, which would have had very thin volume due to the fact that it was Labor Day in the United States.
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The British pound has gapped lower to kick off the trading session on Monday, but it should be kept in mind that the Americans were not even on board as it was Labor Day in the United States.
The NASDAQ 100, at least the electronic session, showed signs of support yet again near the 11,500 level, as the Americans were away at Labor Day.
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The West Texas Intermediate Crude Oil market fell again during the trading session on Monday, but it should be noted that it was Labor Day in the United States and therefore you can only read so much into the price action.
The Bitcoin market fell rather hard during the trading session on Monday as traders came back from the weekend, but you should keep in mind that it was also Labor Day in the United States, so a significant portion of the trading community simply was not there.
The S&P 500 fell initially during the trading session on Monday in thin electronic trading as it was the Labor Day holiday in the United States.
EUR/USD: New lower resistance printed at 1.1828
The EUR/USD pair did not enjoy last week’s gains, which reached its highest level in two years when it tested the 1.2010 resistance.
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In the last three trading sessions last week, gold prices retreated to $1916 an ounce, after a strong attempt by the bulls to push the price towards the level of $2000 psychological resistance at the beginning of the week's trading.
The USD recovered and the selling operations that affected the GBP/USD currency pair, after testing its highest levels in 2020, pushed it towards the 1.3175 support at the end of last week’s trading before stabilizing at the beginning of this week’s trading around the 1.3260 level at the time of writing.
Throughout last week’s trading, the USD/JPY was in a limited upward correction range despite the US currency’s strength against the rest of the other major currencies.
In early trading this morning the EUR/MXN has seen some bullish behavior flourish within the forex pair.
The USD/SGD continues to trade near important short term resistance.
The EUR/JPY bullish trend has remained strong long term and in early September the forex pair tested the 127.000 briefly before reversing lower.