GC dropped significant and fast from 846s highs completing the shark lvl1 @88.6 XC ret. (8141). The PA is currently on 127.2 ext of previous low with a possible long on this shark to 8222. However, a good structure (February lows) provides more support @805s where the shark lvl2 completes. Discretion is advised since both entries long are technical...
Friends, Looking at a finer granular level (H4), 3 patterns call for a terminal top - Worth balancing against bullish scenario - Rate decision this week is likely to remain unchanged, as per major bank consensus. As shared earlier, weekly chart calls for additional upwards mobility, whereas Daily/H4 charts are topping off. Predictive/forecasting model remains...
I have started building a long position at GBP/CAD based on two fundamental views: 1) With the UK economy maintaining impressive momentum, I expect further upbeat data releases this week in form of CPI and employment change, highlighting the fact that the Bank of England could be the second DM central bank to hike interest rates after the RBNZ. 2) The Canadian...