The recovery of WTI last week met resistance in the 54.60 area. The price formed a gap down on the mounting fears about the coronavirus.
EUR/CAD is ready for a move
Information is not investment advice
EUR/CAD has formed a couple of higher lows since October. The pair has managed to overcome the 50- and the 100-day MAs at 1.4588 and 1.4640 respectively. It approached the highs of September and October in the 1.4720 area. A break above this resistance zone will lead the price to a higher range and open the way up to 1.4835/55 (200-day MA, 200-week MA). On the downside, a return below 1.4700 will open the way down to 1.4640. The pair may experience volatility on Wednesday due to the release of inflation figures in Canada at 15:30 MT time.
Currently, the precious metal trades in the zone of 7-year highs. How far away is the all-time high?
The volatility in USD/MXN has jumped. The pair is correcting up within the downtrend, which has been in place since September.
While Donald Trump continues to lead the Republicans, the Democrats have not chosen its representative yet. With around 8 months till the US election, what are the chances for any of the candidates to affect the USD?
AUD is on a downswing against the USD. It reached the Spring-2009 lows. Will it continue the same direction?
NZD seems to be in an equal fight against the JPY. What stands behind that?