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GBP/CAD: technical levels
Information is not investment advice
Last week, the advance of GBP/CAD was contained by the 100-week MA at 1.71. On the D1, the pair closed yesterday below the 200-day MA at 1.6883. The pair has now room for a correction down to 1.6690 (September high) and 1.6640 (38.2% Fibo retracement of the August-October advance). The decline will be triggered if the price breaks below the 50-period MA on the H4 in the 1.6840 area. The pound’s attempts to recover from the current levels will meet resistance at 1.6935 (MAs on the H1) and 1.7000.
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