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USDCAD Day I Bullish reversal?

Forex

TitleUSDCAD Day I Bullish reversal?TypeBearish ReversalPreference:The price is rising toward our pivot point of 1.3629, which serves as an overlap resistance level aligning with the 38.2% Fibonacci.A reversal from this point could lead the price to drop to the 1st support at 1,3441, a multi-swing low support levelAlternative scenario:However, if th

Crude Sinks on China & Oversupply Fears

Forex

Crude Breaks SupportCrude oil prices sank to fresh 5-month lows yesterday as a combination of concerns over the Chinese economy and excess supply in the oil market weighed on sentiment. News that Moody’s has downgraded its credit outlook on China to negative, along with a slew of Chinese corporates, has caused some pause in risk […]

Gold Analysis: Potential Price Drop Ahead

Forex

Last week, the currency pair EUR/USD rebounded from the level of 1.1000. Currently, the asset is approaching the supporting zone formed between levels 1.0670 and 1.0640. The price of this asset is likely to rebound from this zone and rise. The recent trend can be considered a mere correction from the achieved maximum points.The OPEC+ […]

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