XAUUSD: CUP and Handle

The price of gold (XAU/USD) continues to rise for the fourth day in a row, although it lacks strong upward momentum around 1,923 as we enter Tuesday's European session. This lack of momentum can be attributed to the US holidays and a light calendar elsewhere, which has resulted in a sluggish market.

However, traders remain active due to concerns about the global economic slowdown and the state of US-China relations. The recent decision by the Reserve Bank of Australia (RBA) to not raise interest rates for the third time in a row also contributes to the overall market momentum, as it goes against the general consensus.