Trade ideas for March 28 - April 1
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 reversed from resistance zone
2019-11-11 • Updated
- GBP/CAD reversed from resistance zone
- Next sell target - 1.6330
GBP/CAD today reversed down from the resistance zone lying between the key resistance level 1.6730 (top of the previous corrective wave 2 from the start of August) and the Fibonacci cluster made out of the 38.2% Fibonacci correction of the downward impulse from May and the 50% Fibonacci retracement of the more recent downward impulse from June. The downward reversal from this resistance zone started the active minor impulse wave (c). GBP/CAD is expected to fall to the next sell target at the next support level 1.6330 (former resistance level from August).
Similar
USD/CAD Short Trade
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
GBP/USD Near Supply Zone
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.
Latest news
The Battle for Oil. OPEC Strikes Back
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold is Rising Despite Inflation Returns
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Can the Chinese Economy Recover?
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.
