Page 52 - Double Bottom News Today

With all the impressive data for September, and the BOC already in tapering mode, the inflation data should clear the way for the central bank to taper by another C$1 billion per week

The Japanese Yen may weaken against the US Dollar, Australian Dollar and Euro as retail traders increase downside exposure in USD/JPY, AUD/JPY and EUR/JPY. What are key levels to watch?

Many see cryptocurrencies as a store of value akin to gold, which results in buying interest whenever there is a fear that interest rates will rise or some economic slowdown will be there. The FOMC minutes released by the US central bank indicated an earlier than expected tapering.

Gold prices face long odds for a rebound as Fed taper talks solidify, pushing real rates higher. Bulls face a tough technical picture as well.

5/19/2021 7:20:41 AM GMT CAD/CHF, “Canadian Dollar vs Swiss Franc” CADCHF is trading at 0.7439; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7425 and then resume moving downwards to reach 0.7335. Another signal in favor of a further downtrend will be the formation of a Head & Shoulders reversal pattern. However, the bearish scenario may no longer be valid if the pri...

Gold Price Forecast: XAU/USD Rises as Market Considers Transitory Inflation Theme 2021-05-04 02:00:00 Thomas Westwater, Analyst Gold, XAU/USD, Economic Recovery, Treasury Market, Federal Reserve, Inflation – Talking Points Gold prices shift higher as the US Dollar index and Treasury yields weaken NY Federal Reserve President Williams another voice for transitory inflation XAU/USD approaches psychologically imposing 1,800 level, where next? Gold is driving higher against a weakening US Doll...

Gold Technical Forecast: XAU/USD Aims Higher as 3-Month Losing Streak Nears End 2021-04-30 20:00:00 Thomas Westwater, Analyst Gold Technical Forecast: Bullish Channel resistance in focus if XAU breaks above 100-day Simple Moving Average Gold is on track to break a 3-month losing streak as April comes to a close, with XAU/USD looking to set a monthly gain just shy of 4%. Despite the strong monthly performance, gold prices remain under February’s opening price and the psychologically imposing ...

Gold Price Forecast: Double Bottom Validation Signals Further Gains on Offer 2021-04-28 03:00:00 Daniel Moss, Analyst Gold, XAU/USD, Bull Flag, Double Bottom, IGCS – Talking Points: Gold’s recent slide lower looks to be a temporary set-back. A weekly Bull Flag continuation pattern, and daily Double Bottom reversal hint at further gains for the anti-fiat asset. Gold prices have stormed higher in April, climbing over 7% to push to the highest levels since late-February. Although the commodi...

Canadian Dollar Forecast: Oil Prices, Covid-19 Infections May Weigh on CAD 2021-04-28 07:00:00 Daniel Moss, Analyst Canadian Dollar, USD/CAD, Crude Oil, Coronavirus Restrictions, IGCS – Talking Points: Equity markets crept cautiously higher during APAC trade ahead of tomorrow’s FOMC meeting. Stagnating crude oil prices and a flurry of coronavirus restrictions may limit the Canadian Dollar’s upside potential. Potential Double Bottom pattern could trigger a bullish reversal for USD/CAD ra...

New Zealand Dollar Forecast: Technical Levels for NZD/USD, NZD/CAD, NZD/JPY 2021-04-21 03:00:00 Thomas Westwater, Analyst New Zealand Dollar Forecast – Talking Points NZD/USD ranges between psychological level and key moving averages NZD/CAD pings resistance at the 100-day Simple Moving Average NZD/JPY may follow its recent pattern and move to set a higher high NZD/USD Technical Breakdown The New Zealand Dollar has made commendable progress versus the US Dollar this month, up nearly 3%, follo...