Manufacturing PMI 54.7 vs 54.4 expected
- Composite PMI 47.5 vs 47.6 expected
Another divergence between manufacturing and services which makes sense as the social (services sector) is more vulnerable to COVID-19 transmission. EURUSD unfazed on this and the coming vaccine will mean all this will be looked through in the big picture.
Further Development
Analyzing the current trading chart of Gold, I found that there was a strong downside rotation due to overbought condition but that support is near the active price.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got VIX and Feeder Cattle today and on the bottom Wheat and Crude Oil.
Key Levels:
Resistance: $1,857
Support levels:$1,832-$1,823.
