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USD/SEK ADX tied to an extreme

USD/SEK has captured the attention of market participants with its hourly ADX(14) hurdling above the 50 level.

Accordingly to the ADX indicator, USD/SEK has surged above the key 50 level in a technical event that threatens the potential for its price action to remain constructive. Such a strong move encourages bulls to pile in, likely positioning stops close to the market to lock in profit. This may have the opposite effect of a squeeze, driving the prices lower to find less impulsive buyers.

Gold snaps 3-day winning streak

Gold prices retreated at the beginning of the week, with spot gold down to $ 1,133.00 a troy ounce by the end of the US session.
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