Gold Falls to 7 Month Low As Dollar Firms on Rate Outlook

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

Pennant Pattern in GBP/NZD

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

Bitcoin Falls Below $10,000 on SEC Statement

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

Chart of the Day: EUR/CAD Rallies to 2 Year Highs

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

Chart of the Day: NZD/USD

NZD/USD traded to it’s highest levels since March 2nd on Wednesday and formed a textbook (bearish) shooting star candlestick pattern.