In the markets we can still feel the holiday atmosphere and not much is happening. Rising interest rates in New Zealand was already priced in and caused only a slight strengthening on the New Zealand dollar. Tomorrow we are not publishing PA setups review. But firstly, let’s focus on today’s one:
EUR/CAD:
Unfortunately, the signal from the last Thursday ended with a stop loss. Price rose yesterday, but a strong resistance rejection can be seen. If there is another clear PA sale signal short positioning will be considered one more time.
GBP/AUD:
After yesterday’s weaker economic data from Australia, cross clearly increased, broke the resistance and withdrew really quickly, which shows a large supply. The trend is clearly downward so you should look for short positions – even at lower TFs. For now there is a huge lack of sale signals.
GBP/CAD
The couple is in the sideway trend for three consecutive months. Once again it is approaching the resistance and it may be an occasion to open shorts. However, we need here a signal from D1 – it will be the most suitable to positions south.
NZD/USD:
Abovementioned, expected increases in New Zealand’s interest tares resulted in a small increase in the Kiwi and approaching the resistance. Recent momentum for this pair is downward so it is worth to look for short positioning in this area.
XAU/USD:
Gold is near the support all the time. Tuesday’s attack was not successful, but there was a huge response which may indicate that the market is weak and the next test is a matter of time. It is worth to observe price action – with a clear purchase signal, it may be a good opportunity to open positions with a very favorable risk/reward ratio.
