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Gold (XAUUSD) breaking Resistance? USD Continuing Weaker.  Davos Summary.

   

This week’s webinar: https://www.valutrades.com/cointegration-correlation-currency-pair-trading-strategy

Hey Valutraders! Did you see gold trying to break resistance?

Subscribe to Free Valutrades Signals at https://www.valutrades.com/en/trading-signals

I’m Brad Alexander and in this week’s Market Blast Fundamentals let’s take a look at USDJPY, USDCAD, and Gold (XAUUSD).


Yes.  The key level of resistance on Gold might be susceptible to price action as price reached $1937 late last week.Screenshot 2023-01-23 at 18.03.33

We are still seeing USD weakness overall with consolidation on USDCAD and a bit of strength against the JPY.Screenshot 2023-01-23 at 18.03.42

Last week we highlighted the Davos World Economic Forum where a wide variety of topics came up…mostly about climate change.

We, of course, were looking for the global consensus on Inflation and Recession.

The good news is…the attitude of the delegates, global leaders and captains of industry and finance, was that things may not be as bad as we thought.

USD weakness is part of the equation as a strong USD is generally bad for trade and debt.Screenshot 2023-01-23 at 18.03.56

CAD is showing the same weakness as USD with USDCAD at a key level of support.

But watch out this week for a Bank of Canada Interest Rate decision and we will look for opportunities in tomorrow’s video.Screenshot 2023-01-23 at 18.04.02

Christine Lagarde says that the ECB wants to get inflation under control and investors can listen to her three times this week.

Also, we have a variety of economic announcements from the US this week.Screenshot 2023-01-23 at 18.04.13

And, don’t forget to register for this week’s webinar on Trading Currency Pairs.

Thanks for watching and don’t forget to subscribe to Valutrades Signals and the link will be in this video’s description below.
 
Also, subscribe to our YouTube channel and register on the Valutrades website to get notifications on new content as it happens.

That’s all for now.  Happy trading with Valutrades and we will see you next time.

CFDs and FX are leveraged products and your capital may be at risk.23 January 2023 Fundamentals EN TN

 

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.

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