Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

USD/CAD may be capable of more

USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

USD/CNH returned below 7.00

USD/CNH has been steadily declining since the start of October on hopes that the United States and China would take steps towards some kind of a trade deal.

Keep an eye on EUR/NZD

EUR/NZD formed a number of candlesticks with long lower wicks on the D1 - a sign that there’s demand for the euro around 1.7300.

XAU/USD: important technical levels

XAU/USD ran into the resistance area around $1,515 which has been limiting the upside since the start of October - gold hasn’t closed above this level on the D1.

USD/CAD returned to resistance

USD/CAD shot up this week but met the resistance of the daily MAs in the 1.3200 area. Here’s also the 50% retracement of the October advance.

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