CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
About Our Global Companies
Valutrades_LogoSpot
Valutrades_SYLogoSpot

Company

Valutrades Limited - a company incorporated in England with company number 07939901. View more information here.
Valutrades (Seychelles) Limited - a company incorporated in the Seychelles with company number 8423648-1.

Regulation

Regulated by the FCA (Fincancial Conduct Authority). Financial Services Register Number 586541.
Regulated by the FSA (Financial Services Authority). Regulatory Number SD028.

Max Leverage

30:1 (or up to 500:1 for Professional clients, click here to find out more about professional client status)
Up to 500:1

Country

United Kingdom
Seychelles

Negative Balance Protection

Yes
Yes

Back to Blog

Gold on the Rise (Again). USDCAD vs WTI.

   

Welcome to this week’s Market Blast Technicals where we will look at and at the STOXX50, Gold (XAUUSD), USDCAD, EURUSD and USDCNH.

 

We are continuing to watch Renminbi and we see lower highs and a possible break of this lower trend line.

Screenshot 2020-04-07 at 09.11.15

 

As well we see price attempting to break this lower Bollinger Band and stochastics still declining.

Screenshot 2020-04-07 at 09.11.37

 

On EURUSD price action sees the 23.6% Fibonacci level as resistance so we need to see a break above or a bounce to the downside.

Also we see a double bottom here with price currently at the neck line.

We also see lower highs on USDCAD with support at the 38.2% Fibonacci level.

All going well, we could see a break below this week if talks go well between the OPEC + nations which we discussed yesterday.

Gold continues its bull run from mid-March and we see the next level of resistance at the psychological level of $1700.

Looking at the weekly chart we can see that Gold was at these levels in 2011 and 2012.

As we saw yesterday, all the global stock indices are rising and we see the STOXX50 approaching a previous key level, with the 200 day moving average well above, and 3 price gaps which have yet to be filled.

Of course, fundamentals will play a huge part in any equity pricing and index levels.

That’s all for now. Happy trading with Valutrades, stay safe, and we will see you next week.

CFDs and FX are leveraged products and your capital may be at risk.

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

Comments