Stocks try to recover today from the heavy blow that they received yesterday. American Dollar is significantly weaker and the focus of the market
Stocks try to recover today from the heavy blow that they received yesterday. American Dollar is significantly weaker and the focus of the market participants slowly shifts towards the ECB decision on Thursday. In few hours we will get a small aperitif from the BoC with their rate statement.
Gold is doing what is generally expected – climbing higher. In addition to that, the upswing is very technical, especially with yesterdays bounce from the support created by the highs from 29th of August and 1st of September. 1380 USD/oz is on the horizon.
Potentially lucrative trading opportunity is emerging on the USD/MXN chart where the price is forming a long-term symmetric triangle pattern. A breakout here should show a direction and trigger a mid-term trading signal.
Bullish sentiment on the Oil was described on our twitter account on Monday. Since that, the price rose almost 2 USD/bbl and broke the 50% Fibonacci resistance. The next target is the 61,8% Fibo above the 50 USD/bbl.
This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis
During his career, Tomasz has held over 400 webinars, live seminars and lectures across Poland. He is also an academic lecturer at Kozminski University. In his previous work, Tomasz initiated live trading programs, where he traded on real accounts, showing his transactions, providing signals and special webinars for his clients.