What lies ahead for gold?
As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.
AUD/USD is catching a butterfly
2019-11-11 • Updated
Recommendation:
BUY 0.7365
SL 0.7310
TP1 0.7435 TP2 0.7465 TP3 0.7565
On the daily chart, AUD/USD is fighting for an important level of 0.7320. It corresponds to the lower border of the previous consolidation range at 0.7320-0.7470. If bulls manage to return the pair above its middle, they will trigger “Shakeout-Fakeout” pattern. Bears are still hoping to trigger an AB=CD pattern with a target at 200%.
On H1, AUD/USD is correcting in line with the “Widening wedge”. If it triggers a “Butterfly” pattern with a target at 127.2%, the risks of a break of resistance at 78.6% and 88.6% of the wave 4-5 will increase.
Similar
What Does the CPI Have in Store?
On January 12, the Bureau of Statistics will publish the Consumer Price Index (CPI) figures, a key index for determining interest rates. While we await the release, experts forecast a decline in the CPI data, a hint at weaker Dollar values in the global markets.
CAD Might Weaken Ahead of the Macklem's Speech
Later today Tiff Macklem, the governor of the BoC (Bank of Canada) is expected to speak at the Riksbank's International Symposium as part of a discussion panel on 'Central Bank Independence'.
Latest news
Will USDJPY slide lower in 2023?
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
BoC Rates Could Alter The Trend on USDCAD and others
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
MSFT faces gloomy forecasts ahead of earnings report
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
