EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
USD/CAD is volatile
Information is not investment advice
The day promises to be quite interesting for USD/CAD. The market awaits the news about the trade talks between the United States and China. In addition, the Federal Reserve’s Chair Powell will speak at 15:30 MT time and America will release producer price index. On the one hand, concerns about trade negotiations are positive for USD/CAD. On the other hand, forecasts for PPI are low and Powell may sound dovish thus hurting the greenback.
Technically we favor the upside in USD/CAD in line with the general trend and the recent attempts of the pair to break higher and reach the resistance at 1.3535. Yet, momentum is not that strong, so the ultimate direction of the upcoming swing will depend on the news.
NZD/CAD has reached a 200-week MA (0.8950) and formed a “shooting star” candlestick on the D1. On the H4, we see a lower high.
XAU/USD has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.
The New Zealand dollar is rising for the sixth straight day, outperforming its major peers. What is the reason? Let’s find out!
The U.S. Commerce Department said it will issue an order Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20.
Oil keeps rallying for the fourth day in a row after Goldman Sachs claimed that the oil market is in deficit and also because of the recent storm in the Gulf of Mexico, which led to the sharp decline of oil production. It is the best week for oil since June!