US Dollar Takes the Lead!
Good day!
EUR/USD managed to pull from the downtrend. The asset is recently approaching the horizontal level of 1.0926. So far, we assume that the rate of currency pair will pull from the support and jump:
The price of gold is trying to break the uptrend. Should this happen, the asset’s price will drop till the level of about 1400.00. At this point the asset might pull back to the broken uptrend and drop to reach the psychological support. We think that a true breakout should happen when three candles settle in behind the broken trendline:
The Swiss franc approached the resistance of 0.9975 and is currently testing it. It is not clear yet whether the asset’s price will break it. Here it would be wise to rely on the candlestick patterns. The asset should eventually pull back down. Yet, it can break the level first:
Let us remind you that this material is provided for informative purposes only and cannot be considered as a direct go ahead to implement transactions in the financial markets. Trading in the financial markets is very risky.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.