Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/GBP: 'Flag' led to another decline
Information is not investment advice
There's a 'Flag' pattern, which led to another decline. At the same time, we've got a local 'V-Bottom', so there's an opportunity to have an upward price movement towards the nearest resistance at 0.8596 - 0.8616. If a pullback from these levels happens little later on, bears will probably try to reach the previously tested support at 0.8483, which could be a starting point for a larger upward correction.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?