As the dollar continues to devalue against gold, it will become more significant as conditions ease globally in the coming weeks. Of course gold is an inflation hedge and we're kind of in a deflationary environment for the moment, so it may take some time for us to get to the 1780-1800 mark!
EURNZD has broken some consolidation to the downside as both AUD and NZD pick up strength with great coronavirus handling and exports to Asia are picking up now that those parts of the world are re-opening. Even though Europe and the USA are struggling and consumer demand isn't as high, production countries such as Vietnam, Indonesia, China, Japan etc... will...
USDCAD Buys to 1.46000. USDCAD has been historically higher when the dollar was this strong and Oil this low. I do expect prices to rally above 1.40 medium term. Good luck!
GBPJPY has rebounded off multi-year lows at 1.27 this year and currently we're in a consoldation area. I don't think much has changed in terms of the Pounds fundamentals but one thing that may have given us strength and may continue to give us strength, is the possibility that Britain does not leave the EU after all. There's a couple of scenarios I see happening...
Description on the chart of why 1705 could be our bouncing point but also understand the possibilities of the market. If this entry is not correct, it doesn't mean the trade is wrong. I trade using a high risk to reward ratio specifically for times like these when there is multiple opportunities to hop on a trend.
