During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
XAU/USD aims higher
2019-11-11 • Updated
Trade idea
BUY 1,557; TP 1,582; SL 1,540
Given the overall uncertainty about the global economic growth, concerns about the US-China trade war and the no-deal Brexit, there’s a fairly big chance that gold will continue strengthening. XAU/USD has already broken above the 50% Fibo of the 2011-2015 decline at 1,480 and the previous August high at 1,535. The natural bullish target is at 1,584 (61.8% Fibo). As a result, despite the technical bearish divergence on the D1, it’s possible to pursue more buying. The ADX shows that the uptrend is still rather strong. On the downside, the decline below 1,535 will open the way down to 1,500.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...