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: uncertainties
2019-11-11 • Updated
Recommendations:
SELL 1180 SL 1195 TP1 1160 TP2 1151 TP3 1130
BUY 1215 SL 1200 TP1 1245 TP2 1265 TP3 1285
On the daily chart of XAU/USD, 1,180-1,215 consolidation keeps going. A break of its upper boundary will implement the “Crab” pattern with the 161.8% target. On the contrary, the hit of the support at 1,180 will let bears move to the 161.8% target of the AB=CD pattern.
On H1, the “Broadening wedge” pattern is forming. An unsuccessful break of the resistance at 78.6% of the 4-5 wave let bears counterattack. To continue the downward movement, bears need to test the support at 1,180.
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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...