Gold sank to its lowest levels since December 11th of 2017 in early trading on Thursday. The yellow metal has been pressured by the hawkish stance of the Federal Reserve, a strong US dollar and a robust U.S. economy. On Tuesday the Trump administration announced a list of tariffs of 10 percent on $200 billion … Read more
GBP/NZD Daily Chart Pressure is building up in the pennant pattern on the GBP/NZD daily chart. Price is hovering around the support of the upward sloping trendline and beneath that major support lies at the 200 period simple moving average (in yellow). It is a bullish pennant pattern and from a technical perspective breakouts to … Read more
BTCUSD Daily Chart Bitcoin fell sharply on Wednesday after the Securities and Exchange Commission (SEC ) stated that online platforms trading digital assets that are considered securities need to register with the agency. The news pushed Bitcoin below the key psychological $10,000 level, marking a 50% drop from its all time high. Bitcoin is the … Read more
EUR/CAD rallied to fresh 2 year highs on Wednesday, reaching the highest levels since January of 2016 ahead of the Bank of Canada (BOC) interest rate statement. The BOC has hiked interest rates three times since July but is expected to keep its benchmark interest rate on hold at 1.25 per cent on Wednesday. Momentum … Read more
NZD/USD traded to it’s highest levels since March 2nd on Wednesday and formed a textbook (bearish) shooting star candlestick pattern.