Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
USD: trading it short-term
Information is not investment advice
EUR/USD: back into the channel
This currency pair is definitely going through fierce fluctuation. The recent rise to 1.19 followed by a plunge to 1.18 and correction confirms that. Now, EUR/USD is back at 1.1850 – that’s the downside of the core channel it’s been going through. That means it makes sense to expect it to gradually move to the upside closer to 1.19 – step in!
GBP/USD: marching upwards
Hopes of having Brexit sealed this week are pushing the GBP. This currency pair has moved from 1.3210 to 1.34 in the recent spectacular upswing. Undoing this overheated gain, GBP/USD got back down to 1.33 to start climbing again. It’s only rational to prepare for another gradual uptrend to 1.34. Welcome aboard!
AUD/USD: rolling waves
The resistance range of 0.7330-0.7335 seems to be impregnable for AUD/USD so far. The currency pair touched it several times in November bouncing downwards – just as it did this Monday already. Expect this resistance to be reached in the short-term and possibly reverse the currency pair downwards yet again.
USD/CAD: firm support
After the first week of November, 1.3040 has been preventing USD/CAD from dropping below. We can see it bounce upwards several times on the hourly chart below. Possibly, this is another reversal we are observing right now. This makes it potentially an ideal opportunity to use the situation in the short-term. Watch it get back up to 1.31!
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?