The USDCAD moved higher before sellers took control, testing key resistance levels. Breaking below key support levels could signal a downward trend and a short-term high. |
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Published on December 5, 2023
The USDCAD moved higher before sellers took control, testing key resistance levels. Breaking below key support levels could signal a downward trend and a short-term high. |
2023-11-30
Here’s a quick technical analysis on Gold with some fundamental background.
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2023-11-28
Will the Reserve Bank of New Zealand’s interest rate decision shift the NZDUSD bias? Currently above key technical levels, traders should watch for a move below 0.6092 for more bearish clues
2023-11-28
In the near future, gold might bounce in a primarily technical move as the price emerges from oversold conditions and the appetite to push lower appears limited. At the Fed’s next meeting in a month, the funds’ rate will likely remain at 5.25-5.5%, which is the primary narrative. Nevertheless, this idea may be invalidated if the American inflation data are surprising.
2023-11-24
As the US 10-year yield moves higher, the USD is moving lower. That is not the normal relationship, but it is today.Technicals seem to be in play as the 10-year yield bounces off a key support area near 4.34%. Meanwhile, the USD is breaking to the downside against a number of the major currencies. So technicals seem to be the driving force behind the moves.
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Both the EURUSD and GBPUSD are making technical breaks to new highs as European traders exit for the day.
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