Gold: short-term trade ideas
Everyone is interested in trading gold (XAU/USD). The meeting of the Federal Reserve at 21:00 MT time (GMT+3) will certainly drive the price.
USD/CAD met resistance
Information is not investment advice
USD/CAD was rejected down by the resistance in the 1.3460 area. The pair is now trading below the weekly pivot point at 1.3385. It’s quite reasonable to expect the pair to correct down after the rapid advance it made during the last two weeks.
As long as USD/CAD is trading below 1.3370 (50-period MA on H4), it will be vulnerable for a decline to 1.33. This is a significant level for the pair. As long as it stays above this point, the inverted “Head and shoulders” remains in place thus leaving the door for the further upside wide open. The next bullish target above 1.3460 will be at 1.3570.
Elizabeth Belugina
Similar
AUD/USD is looking badly
AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.
Is gold ready to shoot up?
Gold price formed a bearish harmonic ‘Butterfly’ pattern. Still, the detour to $1760 may be the decline it forecasts. In addition, even the pattern allows expecting the increase up to $1780.
Popular
Will the stocks of semiconductor producers rebound soon?
The amount of problems caused by the coronavirus pandemic is huge…
GBP/USD : sellers eye key support on break below 1.4000 after the FOMC
Ichimoku Kinko Hyo CAD/JPY: The pair is trading below the cloud…
USDJPY: dips to test 100 hour Moving average before FOMC
Fibonacci Levels XAU/USD: Gold facing a further consolidation above 23…
Choose your payment system
