AUD/CAD Daily Chart AUD/CAD reached fresh multi-month highs in early trading on Wednesday, reaching the highest levels since April of 2017. A Golden Cross pattern (bullish crossover of the 50 and 200 period simple moving averages) formed in late February, ushering in a sharp up move in price. The recent uptrend began in December of … Read more
GBP/USD Daily Chart Cable has broken out to the upside of a well defined pennant pattern on the daily chart amid news that Britain is very close to a Brexit transition deal with the European Union. Resistance looms overhead at the prior highs of 1.4068 and above that 1.4143. The uptrend line beneath forms support and … Read more
At least eight people have died after Hurricane Irma ravaged Caribbean islands, including Saint Martin and Barbuda. More than 1 million residents of Puerto Rico were left without power but the Category 5 storm stayed just out to sea before moving towards the Dominican Republic early Thursday. Hurricane Irma is expected to hit Florida on Sunday. … Read more
Gold pushed through well defined horizontal resistance to trade above the major psychological level of $1,300 an ounce in early trading on Friday.
Dovish FOMC minutes released on Wednesday put pressure on the US dollar and boosted gold closer to the $1,300 level now watched by many analysts.