Traders are closely monitoring Fed speeches, particularly Fed's Mester speech scheduled for Tuesday, for further insights into monetary policy directions. Additionally, market participants await key economic releases later in the week, including New Zealand's Unemployment Rate for Q4 and ...
USD/CAD: loonie is breaking the trend
2022-04-15 • Updated
TP1 1.2715 TP2 1.292 TP3 1.325
On the daily chart, USD/CAD bulls managed to overcome resistance at 1.2462. If they manage to conquer the level of 1.2717, the risks of an inverted “Shark” pattern will significantly increase. Its 88.6% target is at 1.3250.
On H1, a break of resistance at 1.2533 will open the way to 1.2595 (88.6% of the last descending wave + 161.8% target of AB=CD). A successful test of this level will allow bulls to continue the rally.
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The Canadian Dollar faces a confluence of challenges, from the unexpected BoC stance on interest rates to mixed economic data and the traditionally impactful fluctuations in oil prices. As investors grapple with uncertainty regarding future monetary policy directions and the resilience of various economic sectors, the...
Intraday and swing scenarios based on price action and volume profile.
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Last week I gave a trade idea on XAUUSD with a target around the $2,020 price line. At the time of writing, XAUUSD already exceeded the target and I’m sure that would leave a lot of people wondering what to expect next. Below, I have presented my view of how I expect the price action to turn out in the meantime.