XAUUSD Technical Analysis – Gold has been resilient against all odds. Strong United States Dollar which would have originally capped any meaningful Gold gains has not prevented Gold whatsoever from its bullish momentum. This week we are looking at a potential retest of the previous highs up at around the 1610 level and will be…
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To be a successful trader in forex, comex, and stocks, one must approach trade as a full or part-time business – Trade is a business and incurs costs, losses, taxes, uncertainty, stress, and risk. As a trader, you are basically a small business owner and must do research and strategies to maximize the potential of…
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TECHNICAL ANALYSIS Price has reached daily 200EMA plus resistance level and has began to show signs of weakness. I will be looking for a continuation of weakness in the USD/CAD targeting 1.31200 FUNDAMENTAL ANALYSIS FED Chair Powell speaking several times throughout the week. Will be expecting more insight on economic outlook, stimulus and hints of…
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TECHNICAL ANALYSIS Trend continuation, recent pull back into 50% resistance confirmed with bearish 4h engulfer. Resistance seen at 1.1080 so stops above. Weekly target 1.0950 very possible. FUNDAMENTAL ANALYSIS USD bond yields pushing 2 %, 325 bp rise since last week’s cut. Euro yields are negative. The yield differential should push this pair back down…
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TECHNICAL ANALYSIS Daily and weekly 8GAPS have been closed and price continuation south resumes. This week I’ll be targeting the 0.82000 magnet as a key area, but should it break and close beneath, a test of the lower trend level is likely. FUNDAMENTAL ANALYSIS BoC this week likely to hold rates unchanged at 1.75%. I…
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TECHNICAL ANALYSIS The 50% pull back resistance zone continues to be respected. High wicked daily candles, with lower highs confirms trend momentum to the downside. A further test of 0.8575 looks probable and then onto 0.8500. FUNDAMENTAL ANALYSIS Brexit extension and the possibility of a UK general election should underpin GBP strength. Soft Euro data…
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