GBP/CAD is insatiable
GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.
Trade ideas for gold
Trade idea
SELL 1280; TP1 1276; TP2 1270; SL 1282
BUY 1300; TP 1308; SL 1298
The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50. A fix below 100-period MA on H4 will be significant as the price was last seen there only in November. The break of the pennant to the downside will pull it down to 1276 an 1270 (100-week MA). The alternative is a break above 1300: it will allow the uptrend to continue towards 1308.
Elizabeth Belugina
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EUR/NZD: the short-term downtrend
EUR/NZD has been descending since the middle of October when it recoiled down from the resistance line connecting 2015 and 2018 highs.
EUR/CAD is ready for a move
EUR/CAD has formed a couple of higher lows since October. The pair has managed to overcome the 50- and the 100-day MAs at 1.4588 and 1.4640 respectively.
Latest news
GBP/CAD is insatiable
GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.
EUR/NZD: the short-term downtrend
EUR/NZD has been descending since the middle of October when it recoiled down from the resistance line connecting 2015 and 2018 highs.
Platinum is to drop soon
Platinum is likely to bounce back down after it reaches the local resistance level.
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