Forecasts & Analysis

It’s a bullish start to the day for the majors. Avoiding a fall through the pivot levels would bring resistance levels into play.

It’s a bullish start to the day. Avoiding the day’s pivot levels would support a run at the major resistance levels.

With economic data on the lighter side from the Eurozone, U.S weekly jobless claims, the latest COVID-19 numbers, and the Capitol Hill will be in focus.

CPI rises more than expected

Stockpiles are expected to rise by 40 Bcf

CPI rises more than expected

The Fed can print lots of money and spread it around, but consumers and assets need to be engaged in real organic economic function for the economy to grow. 

Bearish traders will show up on a test of $1981.70 to $2007.10. They are going to try to form a potentially bearish secondary lower top.

The key level to watch is the long-term 50% price at $41.72. Holding above this level will signal the presence of strong buyers.

USD/CAD made an attempt to settle below the nearest support level at 1.3235 but this attempt was not successful.