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 is gaining strength
2019-11-11 • Updated
TP1 1.3295 TP2 1.3430 TP3 1.3500
On the daily chart, GBP/USD bulls are trying to lead the pair out of the descending channel, push it above resistance at 1.3215 and move higher towards the target of “Wolfe waves”. Bears, on the contrary, aim to keep GBP/USD inside the channel and renew July low in order to resume the decline.
On H1 of GBP/USD, buyers have a chance to finish the formation of the “Broadening wedge” on the basis of “Three Indians”. To begin with they will need to trigger AB=CD pattern.
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