After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.
GBP/USD: pound chose road to the north
2019-11-11 • Updated
On the GBP/USD daily chart, bulls managed not only to push quotes beyond the 1.277-1.286 trading channel but also to retest its upper border. it means that their opponents are still weak. So, there are odds for the continuation of the rally and fulfillment of the 161.8% target in the AB = CD pattern. It is located near the 1.31 mark.
On the GBP/USD hourly chart, the chances for bears to form and implement the "Expanding wedge" pattern have significantly decreased. First, the quotes should return to the middle range of the 1.277-1.2865 trading channel and only then to test its lower border.
After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?
All eyes seem to be on the US Dollar as traders await the Federal Reserve Chair's speech this Thursday at the Cato Institute's Annual Monetary Conference.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy