As certain fiat currencies weaken, troubles with oil demand, stimulus packages being discussed and gold rally halting, our team is looking at specific pairs that we think will be good to consider trading throughout the week. Here's what we're looking at:
- Analysts expect price to rise to 0.72 by the end of the year - Australia relies on gold production as gold prices pass highs
- USD will likely see more demand as long as interest rates stay above 0% - HEALS Act could prove effective in US, causing a drop in the pair - Price is showing signs of being overbought
- Highest bullish sentiment since COVID crash - Euro preferred over the dollar as USD weakens - Investors favor EU stimulus package over US's
- The pair is running into resistance levels as bull rally takes a break - US federal interest rates expected to remain unchanged - Analysts think Euro is running out of momentum
- CAD's GDP m/m expected to be much higher than last month - JPY's unemployment rate expected to rise - USD weakening could stimulate oil price (Canada's economy depends on oil production)
- If oil demand continues to drop it, would hurt Canada's economy - Resistance lies around the price of 80
Prices come back up to recent resistance levels on the daily chart. 14-Day RSI marks 70 which signifies it's overbought. Short interest sits here as price consolidates. If prices can break and close above .72, it would be a good sign for bulls, but until then, short interest remains. Gold prices show slow down in rally as AU's rally may be dwindling.
EU on the hourly chart showing multiple tests on that resistance with no success. Meanwhile a wedge forms and prices get pinned between the rising trend line and 1.17430s level resistance. The rally is on pause waiting for the Fed and stimulus announcements in the coming days. Similar to AUD/USD, our sentiment remains short unless resistance is broken.
Cad Yen on the 1D chart showing some short term bullishness as price hits rising trend line. Long wicks form on the two previous candles showing indicating buying pressure that price wants to come back up to test resistance. Looking to the 200 Day Moving Average for resistance should the pair come up to this level.
Thanks for reading! If you are interested in joining our trading community, we have chat rooms, trade alerts from our top traders, and educational content. You can join using the link below, and get a discount on your membership.
Please note that this email is my personal opinion only. I am not a licensed financial advisor, and any information shared or discussed is not to be construed as investment advice. Trading and investing involves a degree of risk, and is not suitable to all investors. Please consult with your financial advisor before making any sort of investment decisions.
EUR/USD Bearish GBP/USD Bearish AUD/NZD Bearish XAU/USD Bullish SPX500 Bearish EU struggles to pass 1.2000s as US markets fall from overvalued prices in the stock market. The pair is back in a support zone showing that price wants to go lower. A break in that support zone (which is a common pattern we see in […]
Last week was rough for the market as the S&P and Nasdaq draw lower lows on the daily chart. The Dow Jones Industrial was the only index to look in the best shape as tech continues to fall under pressure. The main drivers for the market, which have been carrying pairs like GBPUSD and EURUSD, […]
Weekly Forex Forecast for USDCHF, GBPUSD, AUDNZD, XAUUSD (20-25 September 2020) Hey everyone! Welcome to this weeks forex forecast for the week ending September 25th, 2020. I'm TraderBart with A1 Trading, and this week I'll be looking at USDCHF, GBPUSD, AUDNZD & XAUUSD. USD/CHF Zooming out, we can see price is travelling in a strong […]
Politics preventing new financial stimulus The economic recovery in the major global economic powers depends on several important factors. One of the most vital part, the spread of the virus and the government's answers to it. With a decrease in daily cases of COVID-19 to 50,000 in the U.S.A. Yet U.S. A remains the most […]
Our team has received many reports of scammers using our content and pretending to be us. Unfortunately, these accounts are difficult to shut down as there are many that we do not know of. While we will continue to do our best to get these accounts shut down as we receive reports, we are unable to […]
Warren Buffett is one of the most idolised, investors in the world. At the time of writing , his company, Berkshire Hathaway, has a market cap of $495 billion and Buffett himself has a net worth of $79 billion. His approach to value investing, combined with his influence over the companies he invests in , […]