
Stocks, oil, and risk currencies gained on Tuesday as the formal go-ahead for US President-elect Joe Biden to begin his transition burnished a November already boosted by Covid-19 vaccines.
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Last week, AUD/NZD formed a lower high on the D1 and then stayed below 1.0730/20 (April and May highs) during the following days. The pair is currently testing levels below the 100- and 200-week MAs in the 1.0700 area. On the H4, the picture looks pretty negative with all the key MAs above the price and providing resistance and the 50-period MA moving down to the 200-period MA: if the lines cross, it will e a bearish signal. Such a signal might correspond with the dip below last week’s lows around 1.0670. In this case, the downside target will be at 1.0625 (50-day MA).
Stocks, oil, and risk currencies gained on Tuesday as the formal go-ahead for US President-elect Joe Biden to begin his transition burnished a November already boosted by Covid-19 vaccines.
EUR/USD fell below 1.1850 after reaching 1.1920 on Monday. The pair consolidated after the initial bearish move.
USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
Asian equity markets traded cautiously after the mixed lead from Wall St where most indices stalled at record levels
How do we trade the gold price? It seems to be losing the upside momentum - no problem for bears!
GBP/USD went beyond 1.37 and reversed the gains. How to trade it now?
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