USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
Information is not investment advice
Awesome Oscillator: at zero line
What looks like a stopped heartbeat on the GBP/USD H4 is a consolidation of the currency pair with almost 0% fluctuation. Why suddenly?
First, the GBP was losing to the USD due to fueled demand of investors for the USD as a reserve currency. But then, in the second part of March, the reports started growing gloomier for the US. Donald Trump eventually changed the tone at his press conferences from optimistic to quite pessimistic, and +6.5mln applications for the unemployment benefits among the Americans made the US dollar tremble. At the same time, that disappointment did not hit as strong due to hopes on the US-President-suggested scenario for the OPEC+ to cut oil supply by 10mln per day on Thursday.
However, the GBP could not take advantage of none of that because the UK is in a dire situation itself. The Bank of England is pumping more currency into its economy and plans to keep doing so. Hence, both currencies got weaker, although due to a different set of factors.
What will it be next? In the short term, today’s NFP will show. In the long-term, the strength is still on the US dollar’s side.
EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
USD/JPY has recently formed a higher low at the end of last week. Today the pair is testing levels above the 50-day MA.
Asian equity markets resumed the weak performance seen across global peers which culminated in Wall St’s worst day in over a month
Surging coronavirus cases and a stalemate in Washington over the next fiscal aid bill darkened the economic outlook in the run up to Nov. 3 presidential elections.
GBP/USD has bounced off the key support of 1.30 and turned to the upside. The pound is widely anticipated to rally further amid rising hopes for the end of Brexit talks this weekend on Halloween.