Daily Alert – Wednesday 19th August 2020: Strange moves in USD and GOLD

Mark Nugent Aug 2020, Daily Alert

Daily Alert – Wednesday 19th August 2020: Strange moves in USD and GOLD

Markets are quiet this week. Risk sentiment has been indecisive all week. The only theme from Monday’s Trading Plan that is playing out is strong EUR. I entered EURUSD long on Monday night. The trade is in the money but for an unknown reason the USD is spiking and GOLD is dropping. There is nothing in the calendar or the news wires to explain this. We see these unexplained moves from time to time. The USD and GOLD moves started at 1535 BST and lasted for around 30 minutes and now seem to have stabilised.

I also went long on GOLD on Monday night. That trade closed at breakeven earlier today as the GOLD price dipped.

I’ll be closely watching tonight’s FOMC Meeting Minutes, due at 1900 BST.

I’ll be back on Friday.

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