Last Tuesday, the Australian dollar experienced its steepest drop of the year, falling by 1.18%, following higher-than-expected US inflation figures, which boosted the US dollar. However, the Aussie has since rebounded and is now trading at a two-week high against the US dollar. Investors are...
USD/CAD: bears are preparing for the attack
2019-11-11 • Updated
On the USD/CAD daily chart, the realization of the Wolfe Waves pattern continues. The next move would be the return of quotes within the borders of the downward trading channel. For this to happen, the Bears need to break the support at 1.3435.
On the USD/CAD hourly chart, the breakout of the diagonal support in the form of the lower border of the upward trading channel will be a signal for the Bears' attack. There is a chance for quotes reaching the convergence zone at 1.344 - 1.3455. Within these levels, there is a target 88.6% of the Shark pattern. If support at 1.344 is broken, there will be a slide towards lower levels.
Commerzbank's analysis suggests a brighter outlook for the New Zealand Dollar (NZD) in the coming months despite recent downward pressure. Factors like broader U.S. Dollar strength and domestic issues have kept the NZD below last year's highs. However, robust labor markets in both New Zealand and Australia and an expected...
What causes the yen to fall, and how does it behave against the USD, EUR, and AUD
Intraday and swing scenarios based on price action and volume profile.
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Last week I gave a trade idea on XAUUSD with a target around the $2,020 price line. At the time of writing, XAUUSD already exceeded the target and I’m sure that would leave a lot of people wondering what to expect next. Below, I have presented my view of how I expect the price action to turn out in the meantime.