Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

USD/CAD trade is in profit
USD/CAD trade is in profit

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.

Gold failed once again
Gold failed once again

Gold regained above $1900/Oz during yesterday’s trading, reaching as high as $1910 but it failed to sustain these gains during the Asian session today, leading to another leg lower back below $1900/Oz.

USD/CAD is holding above support
USD/CAD is holding above support

USD/CAD declined once again to the same support area between 1.2040 and 1.2020 which remains solid for over three weeks now.

Gold: a risk of selling
Gold: a risk of selling

As warned over the past few days, gold is not in a position to keep on rising. Yesterday gold managed to rise all the way to $1,916.

Aussie Selloff Ahead?
Aussie Selloff Ahead?

AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.

How to trade on OPEC meeting?
How to trade on OPEC meeting?

The world’s largest oil exporters, OPEC+ nations, will meet on Tuesday. The meeting is expected to start at 15:30 GMT+3.  

Trade ideas for May 31-June 4
Trade ideas for May 31-June 4

The market is preparing for an active week. Have a look at the trading instruments with the most interesting potential!

Gold is Below $1900
Gold is Below $1900

In line with our expectations mentioned in yesterday’s note. Gold failed to sustain its gains above $1900/Oz and declined back all the way to $1888 during the Asian session today,

USD Index is Testing Trendline
USD Index is Testing Trendline

The US Dollar Index tested the higher line of its downtrend channel on the daily chart but failed to breakout, following the disappointment of the 2nd reading of Q1 GDP.

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