With the current uncertainty and previous market behavior that has seen the market going low in September and October before going up for the November and December up run, I think this setup is both fundamentally and technically supported
The dollar has been going strong for the last week or so, but it looks like the buyers are about to take a break and the sellers are about to step in. It's early days but already you can see a Bullish Divergence starting to form as price makes the same low but The RSI Shows a low higher than the previous one. I think the R/R ratio here is good and I think we about...
The dollar had performed very well over the last week or so, but that might be coming to a pause. Fundamentally that Fed interest rates are still very low automatically making the dollar weak against some of not most of the other currencies.
So in the long run I expect the dollar to keep weakening because of the oversupply of money in the US as a measure to fight...
CADCHF Has been trending in a downward tunnel and on Friday price could not break resistance and was rejected over and over.
Now I expect sellers to take control and drive price to semi-uptrending channel support(Orange) and break it. And then after that we are off to the main support of the Downward channel(Blue).
Gold fell substantially last week and it hasn't been clear is that was it for bulls or was the move just a pullback as gold had rallied up fast and hard.
Well a close look at a possible double bottom that formed on Friday might give us some clues. A double bottom isn't really enough to prove that we might be getting ATLEAST a pullback up, so if we look at the...
