USDCAD breaks the 1.2700 resistance line of channel, as bulls rides on USD for a month. USDCAD has touched 1.2860 mark and formed a support at 1.2760 level. A entry here could give us a potential target to 1.2930 level, the next resistance.
The price action has had showed rejection at resistance zone 142.600 level. Rejecting from there it break below first support line. An excellent opportunity is waiting at pullback 142.200 to 141.200 to target some good pips.
GBPUSD has turned bearish on the consolidation resistance is near to break below. Covid situations and Brexit agreement complication is a hurdle for bulls to clear. Bais has turned negative and a sell trend is ready to hit 1.31500 again.
If GPBUSD fails to break the resistance, a possible sell move is awaiting. A break above 1.3700 will open a way for buyers with more confidence, on the other side, if resistance rejects the pair again will node down to the 1.3300 level.
The daily chart of gold has broken clearly above the intermediate trendline, confirming a cycle breakout and subsequent 6-month low in late November. Precious metals should rally into at least March, but April or May is more likely before correcting into the next 6-month low. My minimum target for this advance is $2300.
We are keeping a close eye on Gold. The exciting pair has pushed itself to the top of 1900 where it needs to break the resistance channel. All are in favour of Gold. Once the resistance is clear, xauusd is all set to hit the all-time top again. if rejected, bears will take the charge, let's see who blinks first.
Concerns over economic recovery, global interest rates, and vaccine efficacy remain vague that's pushing Gold higher and soon it will regain the 1900 level, which is a major resistance level. Gold can make moves in sideways movements from 1870 to 1900.
AUDUSD has been a steller performer since a drag down from May 2020. GDP data showed a strong expansion of output +2 trillion after covid 19 lockdown ends. Aussie will remain positive against its counterparts but the only concern is tension with it major trading partner China.
Gold held the support level at the 1800 level. Found good demand to reach 1840 range. Gold remains within a familiar trading range, lacking a clear directional bias, as indicated by Wednesday's Doji candle. However, the risks remain skewed to the downside, with the $1800 level still in danger. The selling momentum could accelerate on a break below the 200-daily...