I’ve had the privilege to be part of Winner’s Edge Trading’s Explosive Growth Mentoring trading room these last two days. Now I’ve been trading a while and most of these concepts are not new to me. But to watch Casey Stubbs (Winner’s Edge Founder) put them […]

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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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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