The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
GOLD: price to test Moving Averages
Information is not investment advice
There's a bearish 'Harami', which led to the current decline. Also, we've got an 'Inverted Hammer', but this pattern remains unconfirmed. Thus, we should watch the Moving Averages as a potential target for the current correction. The subsequent pullback from these lines could lead to another bullish rally towards the upper 'Window' (1307.72).
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.