Retail investors are selling the precious metal amid concerns about a rate cut by the Federal Reserve. However, it is being promptly purchased by central banks and hedge funds.
A consolidation and a break below the psychological level of $4,000 could change the scenario for gold, and we could expect it to reach $3,906 and even reach the 4/8 Murray around $3,750.
If the euro falls below 1.1570 in the coming hours, we could expect it to continue its downward cycle and reach 1.1525, or even the 6/8 Murray around 1.1474.
If the price continues to consolidate around $90,000, there is strong support at the -2/8 Murray line located around $87,500. This level is key and could be seen as an opportunity to buy Bitcoin in the coming days.
