USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
NZD/CAD broke combined resistance area
2019-11-11 • Updated
- NZD/CAD broke combined resistance area
- Next buy targets - 0.9110 and 0.9200
NZD/CAD continues to rise inside the minor corrective wave 4, which earlier broke combined the resistance area lying between the pivotal resistance level 0.8980 (which stopped the earlier correction (iv) at the start of September), resistance trendline of the daily down channel from June and the 50% Fibonacci correction of the previous minor impulse wave 3 from July. NZD/CAD is expected to rise to the next buy targets at the next resistance levels 0.9110 and 0.9200.
All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
USD/CAD managed to advance further yesterday breaking above 1.21, reaching as high as 1.2128 earlier today, while our long signal that was issued at 1.2060 is now in profit with over +60 pips.
Welcome to October, the tenth month of 2023. For this installment of What to Trade, I have handpicked a few of my favorite trade ideas for the month. Let’s go over a few of them.
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 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.