GOLD: up to $1,600?
Coronavirus keeps disturbing China, and the world. Consequently, gold keeps rising. Reaching $1,600 is "if" or "when"?
EUR/CAD awaits the Bank of Canada
Information is not investment advice
During the summer months, EUR/CAD broke an important support line and has traded with a bearish bias ever since. Last week, the pair was rejected down from the resistance at 1.4660 and fell to 1.4460. This week, there’s some recovery. However, the Bank of Canada’s meeting later on Wednesday may give the CAD more strength and pull the pair down. On H4, EUR/CAD ran into the resistance of the H4 MA and there’s further resistance in the 1.4580/90 area. The return below 1.4525 will make the pair revisit the recent lows. If it manages to jump to the 1.4600 area, sellers will also re-emerge due to the resistance line connecting August and October highs.
Elizabeth Belugina
Similar
How to trade WTI oil
WTI oil has reached our previous targets. On the W1, a big bullish candlestick engulfed the previous bearish one.
EUR/NZD: where to sell?
EUR/NZD formed a “hanging man” pattern on the W1 and went down to trade below the 100- and 50-week MAs.
Popular
GOLD: up to $1,600?
Coronavirus keeps disturbing China, and the world. Consequently, gold keeps rising. Reaching $1,600 is "if" or "when"?
TRY: questionable grounds
The Turkish Central Bank is on a rate-cutting path; on February 19 it will make another announcement. What's the logic behind?
How to trade WTI oil
WTI oil has reached our previous targets. On the W1, a big bullish candlestick engulfed the previous bearish one.
Choose your payment system
