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USD/CAD Intraday: bullish bias above 1.3370.

Pivot: 1.3370 Our preference: long positions above 1.3370 with targets at 1.3420 & 1.3450 in extension. Alternative scenario: below 1.3370 look for further downside with 1.3345 & 1.3315 as targets. Comment: the RSI is bullish and calls for further upside. Supports and resistances:1.3470 1.3450 1.3420 1.3409 Last1.3370 1.3345 1.3315

Gold Price Analysis: XAU/USD’s potential short-term reprieve if USD pulls back

Gold is on the verge of a correction to give rise to further bearish prospects. Bears will be seeking resistance to hold in a weekly bearish close. Gold prices have deteriorated in the US dollar’s relentless comeback as investors move away from stocks.  The price of the dollar is correlated to gold, so it stands

AUD/USD stalls at key support juncture, eyes on 38.2 % correction

AUD/USD is held up on the downside at a critical support structure. The focus is now on whether the US dollar gives back some ground before completing a 5-wave technical move to the upside. AUD/USD has been in the hands of the bears all the way to a critical support area and the focus now

Wall Street Close: Pessimism mounts and stocks don’t like it

The Dow Jones Industrial Average lost 525.05 points, or 1.92%. The S&P500 dropped 78.65 points, or 2.37%. The Nasdaq Composite also fell  330.65 points, or 3.02%.  US stocks ended up in the red again on Wednesday and the dollar hit its strongest level in two months.; Invrstors are increasingly concerned by the prospects of the lack of

EUR/GBP Price Analysis: Bears may wish to sit this one out, or reduce risk

EUR/GBP is bearish below monthly resistance and offers a number of possible trading opportunities.  There has to be a tossup between sitting on the sidelines or being the contrarian at reduced risk.  The pound is vulnerable to Brexit risks, COVID-19 and negative interest rate sentiment. However, the technical outlook is bearish while the monthly resistance

Fed Rosengren: Likely to face a credit crunch toward the end of this year if banks come under stress

Boston Federal Reserve Presedent Eric Rosengren says his baseline is for the pandemic to get worse this fall and winter, decreasing economic activity. Key comments Rosengren says he expects some parts of the country will lock down and consumers will pull back if infections rise. Rosengren says weaker growth could extend the time it takes

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