Trade Successfully
The Bank of Canada (BoC) will announce its latest policy decision on Wednesday at 14:00 GMT. No action is expected, so all eyes will be on the accompanying statement, updated forecasts, and Governor Poloz’s tone. Markets seem to expect an overly dovish message, and while the Bank is indeed likely to
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CAD/JPY squeezed by Bollinger band; strong movement is expected. CAD/JPY has been finding strong support on the bullish cross of the 20- and 40-day simple moving averages (SMA) since the beginning of this month, creating a narrow sideways move above the 50.0% Fibonacci retracement level of the down leg from 89.25
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Gold stops sell-off near 4-month lows; eyes on the downtrend line. Gold printed fresh losses last week after remaining mostly stable in the first half of the month, slipping near a four-month low of 1,271 on Friday. The price, however, has been flirting with the lower Bollinger band in the past three sessions, while
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Twitter stock declines below the red Tenkan-Sen line; neutral in the long term. The Twitter stock price has been developing within a consolidation area over the last nine months with upper boundary the 37.10 resistance level and lower boundary the 26.20 support barrier. From the technical point of view, the market could experience
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EUR/USD drops beneath SMA in descending channel. EUR/USD is looking bearish in the short term after creating a descending channel over the last three months. Also, the price declined beneath the moving averages on Thursday and the technical indicators are all pointing to further negative momentum. The stochastics are heading south with
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After China’s upbeat growth numbers this week, all eyes will be on the US economy’s performance during the first quarter. Aside from the US GDP, it’s going to be a rather quiet seven days for economic data due to the shortened Easter week but there will be two major central
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US equity markets have been on a tear in 2019, reclaiming lost ground to come within breathing distance of their all-time highs. The rally has been fueled mainly by the Fed putting its rate-hike plans on ice, though easing trade tensions and corporate buybacks helped as well. While stocks could
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EUR/GBP consolidates the last 2 months; indicators suggest a bullish bias. EUR/GBP is in a neutral mode after tumbling below the 38.2% Fibonacci retracement level of the down leg from the 15-month high of 0.9110 to the 22-month low of 0.8470 on February 19; prices are consolidating within the 0.8715 resistance
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S&P 500 index (US 500) flies near 6-month peak; all-time high is near. The S&P 500 index price skyrocketed to a fresh six-month high of 2918 on Thursday before it pared those gains later in the day. The price is holding above the red Tenkan-Sen line as well as above the ‘golden cross’
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USD/CAD had another uneventful week as it was congested within the 1.33 area. According to the RSI and the MACD, the pair is likely to continue consolidating in the short-term as both indicators show no clear direction. Yet and more interesting, the market seems to be completing a symmetrical triangle, hinting that the sideways move may soon come to
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