Tuesday , October 24 2017

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GBP/CAD recovers from 4-week lows

Canadian Dollars

FXStreet (Córdoba) - The GBP/CAD cross bounced off 4-week lows scored at the opening as the Canadian dollar weakened, with the pair climbing to a daily high of 2.0590 before finding resistance. Having corrected lower from highs, GBP/CAD is about to close the day around 2.0525, still up 0.88% on the day.

GBP/CAD technical view


“Currently trading around the 38.2% retracement of the December rally, the 1 hour chart shows that the price is above a bullish 20 SMA, while the technical indicators hover above their mid-lines, showing no actual directional strength”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the bearish tone prevails given that the price is struggling around a bearish 20 SMA, while the technical indicators remain below their mid-lines, slowly gaining bearish slope. Some steady advance beyond 2.0540 should lead to a retest of the mentioned high, anticipating some further gains towards the 2.0630 region for this Tuesday”.

Support levels: 2.0470 2.0420 2.0360. Resistance levels: 2.0540 2.0590 2.0630.
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Gold set to post third yearly loss in a row

Gold-and-Silver-Down

FXStreet (Córdoba) - Gold traded little changed during the last session of the year but remained on track to post monthly and yearly declines.

February gold was less than 0.1% higher at $1,061.30 an ounce. The yellow metal is set to score a 1.4% weekly loss, a 0.5% monthly decline and a 10% fall for 2015, making this the third yearly loss in a row.

The yellow metal has been under pressure during 2015 amid a stronger dollar heading into the Federal Reserve lift-off and broad weakness in commodities amid worries about China’s economy.
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4 Thoughts About Trading in the New Year

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Well, 2015 is in the books. Good or bad, it’s over with and we must move on. If you had a tough trading year, you’ve got to forget it. If you had a great trading year, you’ve got to forget it. What are important things […]

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Never Take a Trade Because of Fear of Missing Out

Businessman on a finance graphic aiming for the top

In today’s video I took a trade that was timed poorly. The reason I made the decision to enter and break my rules was because I was afraid of missing out on the profit on the trade. I am sharing this because it was a […]

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Eur/Usd Trade Idea Could Add 10% to Your Account Next Week

leverage-1

Thursday the EUR/USD made a massive reversal to the upside, so what does this mean for the EUR/USD? Well if we take a look at this reversal this actually has several clues as to where this market could be going. The first thing I want […]

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