Welcome to
On Feet Nation
Thomas Shaw Online
Susan Online
Steven Online
Adrian Online
bobbie48uio Online
Jack Online
Posted by Akash Ra on April 19, 2024 at 1:00am 0 Comments 0 Likes
Global Fish Oil Market Overview
Maximize Market Research a business Analytics firm has published a report on the Global Fish Oil Market As per the “Global Fish Oil report,” the total market size value from 2023 and…
Posted by Abbotsford Panel Beaters on April 19, 2024 at 1:00am 0 Comments 0 Likes
If you're like most car owners, your vehicle is more than just a means of transportation; it's a reflection of your personality and style. Keeping your car in top-notch condition not only enhances its appearance but also ensures its longevity and resale value. That's where car detailing comes into play.
In this post, we'll delve into the six remarkable benefits of regular…
ContinueTwo Trades To Watch: Gold, USD/CAD
Gold is edging higher on Thursday, clawing back yesterdays losses, when gold bulls failed to capitalise on US Dollar weakness.To get more news about WikiFX, you can visit wikifx.com official website.
The precious metal trades within a familiar range and awaits US retail sales for a potential breakout.
Expectations are for a blowout 6.3% jump in sales in March rebounding from -3.5% decline in February.
Where next for the Gold price?
Gold trades at the high of the day, having pushed over the 50 EMA on the 4 hour chart and is testing the 200 EMA .
Gold continues to trade within its monthly symmetrical triangle. The fact that it remains above the midway point in the triangle to supportive to a bullish setup.
For the recovery to continue, gold bulls need to break above the 200 EMA and horizontal support at 1742 before attacking 1747 the upper side of the triangle. Beyond here gold buyers could look towards the monthly high of 1760.
On the flip side, sellers could encounter support at the 50 EMA which coincides with the mid-point of the triangle at 1737. A downside break below the lower triangle support line at 1730 could spark a deeper selloff to 1725 the weekly low and 1706 the monthly low.
The pair trades below its descending trendline, its 20 EMA and 50 EMA on the daily chart, indicating an established bearish trend.
Whilst the move lower appears to be running out of momentum, the RSI does still indicate further losses could be had.
Bears need to break meaningfully below 1.25 round figure for a deeper selloff towards 1.2450 and 1.2365 the post pandemic low.
Any recovery would need to take the 20 EMA at 1.2550 and the 50 EMA at 1.26. A move above here could negate the bearish trend.
© 2024 Created by PH the vintage. Powered by
You need to be a member of On Feet Nation to add comments!
Join On Feet Nation