The DXY has rallied to the underside of the trend line but also back above the 200dma which does muddy the picture.
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?
Alongside the bear flag competing when the pair traded below the 123.00 level a pin bar was posted which could signal a near term bounce in the pair.
The EURUSD has developed a triangle consolidation despite the AB=CD pattern pointing lower. Obviously, the risk moving forward is the China/US trade deal in the coming days.
Crude Oil is quite a peculiar instrument to trade, given that its supply side has been managed for decades. If we look at a multi-year chart, there was a very evident move which happened in 2014. The drop from over $100 to $40 was very sharp and relentless, and it was driven mostly by the […]
The DXY is in the middle of the range, and also testing the 61.8% retracement.
During the past few years there has been a good correlation between the Gold and CNH. The Chinese Yuan has been a good proxy for US Dollar relative performance and risk on / risk off flows. As the Dollar strengthens, USDCNH naturally rises and vice versa.
The USDSEK is not a currency pair that Forex Analytix commonly follows, but at times it is worth noting.
The USDCAD will apparently close the week below the 200DMA.