The EURUSD is quietly consolidating above the 200dma as price action continues to compress into a pennant.
A close above the 0.6700 level tomorrow may trigger a longer term double bottom setup for the pair.
The AUDCAD is finding significant support that is the 2018 lows near the 0.9100 level.
The EURUSD has closed above the 200dma and also the 35% Fibonacci retracement of the Sept 2018 highs to April 2019 lows.
Gold finally broke out higher from multi-year resistance, and that has certainly caught the market’s attention. Attempts have been made to explain this move, but what are really the factors that move Gold – both in the short term as well as the long term?
The USDJPY broke down under pressure with yields falling and gold rallying, the natural path of least resistance for the pair was lower.
Gold squeezed shorts post FOMC decision today into the pit close, leaving the instrument at key resistance at the 1360 level.
The EURAUD reversal from new trend highs is pretty spectacular.
It isn’t a secret that the bund has been in a long term bull market.