GOLD: rising during a disaster
Currently, the precious metal trades in the zone of 7-year highs. How far away is the all-time high?
AUD/NZD faces more downside
Information is not investment advice
Trade idea
SELL 1.0425; TP1 1.0370; TP2 1.0330; TP3 1.0250; SL 1.0455
As the Australian dollar is weakened by the dovish position of the Reserve Bank of Australia, AUD/NZD is making movements to the downside which are hard to ignore.
Let’s start with a bigger timeframe, MN. Here we see that in December the pair broke down out of a triangle within which it had been trading since 2015.
In January, there was an abnormal spike down which for some time stopped the pair from the further fall. However, the reprieve was only temporary. We see that AUD/NZD formed a lower high in February and then slid below the former support and now resistance area at 1.0450. The downside targets now lie at the 2017 and 2016 lows.
Elizabeth Belugina
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GBP/USD tests the downside
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GOLD: rising during a disaster
Currently, the precious metal trades in the zone of 7-year highs. How far away is the all-time high?
Levels to trade USD/MXN
The volatility in USD/MXN has jumped. The pair is correcting up within the downtrend, which has been in place since September.
GBP/USD tests the downside
GBP/USD had been rejected down from the 200-week MA in the 1.3033 area. Then it fell below the 100-week line at 1.2950.
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