The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GOLD: main trend remains bullish
Information is not investment advice
The main trend remains bullish. There're bullish patterns such an 'Inverted Hammer' and a "Hammer', which both have been confirmed. Also, the lower 'Window' has acted as support once again. Thus, the market is likely going to reach the upper 'Window' (1330.24) in the next couple of days. The subsequent pullback from this level could lead to a downward correction towards the Moving Average lines.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Technical analysis of the USD/CAD
The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.