GOLD: back to indifference
Is gold predictable now, at all? Let's consider some facts and observations.
Has the downtrend of AUD/CHF ended?
Information is not investment advice
On the daily chart of AUD/CHF, the pair reached the first crucial support at 0.6880. RSI and Stochastic Oscillator are in the oversold area. Awesome Oscillator formed a bullish divergence with the chart. As a result, we can anticipate a soon recovery of the pair. If bears are able to pull the pair down. The next important support will lie at 0.6830.
However, the odds of the rebound from 0.6880 are high. In the middle term, the main target for the pair is located at 0.7018. Nevertheless, before the pair reaches that level, we may see a correction near 0.6981 with a possible retest of 0.6880. To be sure in the trend reversal, it’s worth waiting until the pair breaks above the trendline near 0.6917.
Fundamental factors: on Thursday, investors will pay attention to the Australian jobs data. If the actual releases are more optimistic than forecasts, the AUD will be encouraged. In the case of the worse readings, the currency may suffer that will affect the direction of the pair. However, if the reversal of the trend is confirmed, the pair will recover.
Darya Bobrova
Similar
GOLD: resurging
Gold has been losing value lately. But recently, it is back up. Is it a good time to buy?
3 stocks that did not back down to the virus
S&P falling this much, this stock falling that much... Not all the stocks are like this! Some of them keep standing and defying the virus damage.
Popular
S&P: to fall or not to fall
Will there be lower bottom with S&P or not? Let's analyze together.
GBP/USD: consolidation
How does the GBP/USD look like?
GBP or NZD: which currency has potential?
These days the US dollar has a lock on everyone’s attention. However, there are some interesting cross-currency movements that you can gain from.
Choose your payment system
