For now, the Markets will be plagued by Political uncertainties so we will approach it with much caution.
Last week The AUSSIE approached the 0.7700 key zone which is also the AUGUST 2007 lows, after failing to break below the March 2015 intermediate lows. The 0.7700 zone is a defining point a break above this point will see a continuous move to the upside whereas on the flip side we could see further selling pressure as price goes back to look for the 0.74200 Key area.
Since September 2016, Price has been trading above the 2008/2009 highs at 1.30600/1.3000, When President Trump re-awakened the North Dakota/Keystone XL Pipelines deal, the LOONIE strengthened and threatened to break below these highs, nevertheless the Market is still trading above this zone so we expect the Bullish trend to resume on the Kiwi.
A clear break below this defining point will see the greenback give further grounds to the LOONIE.
The Market Closed like a Bullish Hammer on the daily chart, nevertheless we will be on the side-line on this pair until clarity comes into the prevailing trend, A clear break above the 1.06500 handle implies a continuation in the bullish correction, on the flipside a break below 1.05800 area means a resumption in the bearish trend, we can then look for a sell opportunity around that zone.
Based on the Divergence in Monetary Policies between this two Economies, we expect to see continuation in the bullish trend. Price is right now at the 1994 High of 113.600 zone, we expect to see a clear break of this zone to join the bullish trend otherwise we sell the failure at that high.
(GOLD)From the price action of last week it seems the GOLD is on an uptrend. After taking out the 2009 of 1226.00 on Feb 6th, the market rejected price from that zone on Friday, going into the week we want to see prices trade above this zone, we are already seeing bullish activity from that zone.
In the Middle of the Week prices fell to the 51.50 key Zone, this Zone held prices for almost 2 years, from July 2015 till November 2016 when OPEC agreed to Output cuts, We saw a quick rejection from that zone as the WTI bulls defended that region supported by the IEAs’ (International Energy Agency) report on Thursday. We expect to see further upside on the break above current levels into 55.00 area.