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2019-11-11 • Updated
Trade ideas
SELL 1,399; TP 1,394; SL 1,401
BUY 1,412; TP 1,420; SL 1.410
After its extensive decline last week, the USD can make a small comeback. We picked XAU/USD to make a bet on it: gold’s advance is very stretched both on W1 and D1. Hopes related to the upcoming G20 summit may provoke at least some correction in the safe-haven metal. The decline below 1,400 will open the way down to 1,394 (50-hour MA). A break above the previous highs of 1,412 is needed to open the way up towards 1,420/30. That scenario will be possible if tensions between the US and Iran keep escalating and the Fed’s Chair Powell is dovish on Tuesday.
Fed Chair Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in the US500 index since June. Most risky assets experienced severe drawdowns, and EURUSD returned to the above-parity area. We explain everything you need to know about the Symposium in this article.
Despite a slight decline from its highest levels since 2002, around 109 range, it is just a correction, and the green king, the US dollar, will resume its rally…
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…
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy
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