Bearish momentum sent USD/CAD last week to its lowest levels in nearly four months. Here are the key chart points to consider for a downtrend continuation or a possible correction.
Gold prices soars to 6yr highs, however, buyers beware as gold is now the most overbought in 30yrs.
Stocks are retreating from near yearly highs, so far the pullbacks are orderly and look constructive for higher prices; can’t rule out double-top but looks the less-likely scenario.
Date (GMT)EventCons.ActualPreviousMay 18 22:45Producer Price Index - Input (QoQ)-1.100 %-0.400 %
Date (GMT)EventCons.ActualPreviousMay 18 22:45Producer Price Index - Output (QoQ)-0.900 %-0.100 %
Date (GMT)EventCons.ActualPreviousMay 18 21:00Producer Price Index Growth (YoY)-3.600 %-3.700 %
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Forex Knowledge Resource
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