We have outlooked several promising Forex pairs and the result can surprise you!
GBP/CAD: a bearish pattern
Information is not investment advice
GBP/CAD met the resistance of the 50-month MA in the 1.7765 area. On W1, the pair formed a bearish “dark cloud cover” pattern at the 200-week MA. The pound turned down from this line for the second time this year. This means that there’s significant selling pressure around 1.7670. The decline below the 38.2% Fibo from the 2018-2019 advance at 1.7340 will open the way down to 50% retracement at 1.7200. Resistance is at 1.7520, 1.7670, and 1.78.
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus