Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
USD/CAD looking for downside targets
2019-11-11 • Updated
Loonie has been weak and given that decline, it has started to correct its overall bias. Currently, buyers are being capped by the Fibonacci retracement zone established by the 61.8% and 50% in 1.2941 and 1.2901 respectively. That’s one trigger to sell the pair, with a target placed around 1.2826, at which is located the Fibo retracement level of -23.6%. To invalidate such scenario, USD/CAD needs to break above 1.2963 (78.6%) and consolidates above the 200 SMA at H1 chart with a higher high pattern.
RSI indicator remains slightly bullish, calling for more upside in the pair.
What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
The US broad-market index, S&P 500, has been pressed below the 50-day moving average for the first time since March! Why?
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
China may respond to US House Speaker Nancy Pelosi's visit to Taiwan with military provocations, including firing missiles near Taiwan or large-scale air or naval activities…
The e-commerce giant has recently faced a lot of pressure, starting from global uncertainty in China amid lockdowns and geopolitics. The company has been added to the US SEC (Securities and Exchange Commission) delisting queue. Finally, there’s an earnings report coming on August 4. Let’s discuss everything and prepare for the next move.