Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
GBP/CAD broke major support level 1.6220
2019-11-11 • Updated
- GBP/CAD broke major support level 1.6220
- Next sell targets - 1.6000 and 1.5800
GBP/CAD continues to fall after the latest breakout of the major support level 1.6220, which has been steadily reversing this currency pair from February – as can be seen below. The breakout of the support level 1.6220 should accelerate the active impulse waves 3 and (3) – both of which belong to the primary downward impulse ③ from the start of May. With the accelerating downward Momentum - GBP/CAD is expected to fall to next sell target at the next support levels 1.6000 (target price for the completion of the active impulse 3) and 1.5800 (monthly low from January).
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
A United Nations agency is warning that the central bank’s actions create a high risk of pushing the global economy into recession.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD