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XAUUSD, “Gold vs US Dollar” At the support level, Gold has formed an Inverted Hammer reversal pattern. The instrument may now go by the signal in an ascending wave. The goal of the correction might be 1825.00. Upon testing the resistance level, the price might bounce off it and continue the downtrend. However, the quotes […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD is pushing off the Tenkan-Sen line of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.3565 is expected, followed by growth to 1.3825. An additional signal confirming the decline will be a bounce off the […]
Copper Comes A Cropper As the last full trading week of February comes to a close, we’ve seen several key developments with the January FOMC minutes, the first comments from incoming BOJ head Ueda and the G20 summit getting underway. Looking across markets, we haven’t been treated to as many big moves as we’ve […]
Euro area CPI increased by 8.6% YoY, according to the final data from Eurostat. The rate of growth of price level in the bloc declined compared to 9.2% in December. Preliminary estimate showed that consumer prices rose by 8.5%. MoM change in aggregate consumer price level was negative and amounted to 0.2%. Consumer prices, excluding […]
Incoming data on the US economy and the Fed’s rhetoric pushed greenback higher to a new local high (105 on DXY). Dollar demand also rose against the backdrop of increasing geopolitical risks – in particular, China issued a statement condemning certain features of US foreign policy, in which the market considered its readiness to increase […]
To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts. TitleEURJPY potential for bullish rise towards previous swing high TypeBullish Bounce PreferenceExpect price to possibly retest the pivot which is the overlap support before heading towards the previous swing high resistance.The support […]