Mixed FED Comments Keeping the Market on Its Toes

The European trading session was mostly quiet, with a light econmic calendar which contributing to a subdued mood. The dollar, which experienced gains last week, faced resistance on Friday and continued to show mixed performance today.

Concerns about the U.S. debt ceiling are still influencing market sentiment and impacting the performance of the USD. EUR/USD has been bouncing between two moving averages around the 1.08-1.0840 levels. Buyers are attempting to prevent a sustained break below the 50 SMA moving average on the H1 chart, although the upside movement is currently limited closer to the 100-hour moving average. We decided to open a sell Gold signal earlier, so we reversed to short in Gold now.