In this video, we discuss our technical argument for a medium-term AUDCAD buy on the daily timeframe. Last Thursday, we had a a close as a bullish pin bar reversal (false breakout), which rejected a strong level of support/buy zone. This gave us a buy confirmation for a potential reversion to the mid-point

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The Aussie Dollar finished Wednesday’s session with decent gains of 0.15% against the US Dollar, yet it retreated from weekly highs of 0.6529, which it hit after a hotter-than-expected inflation report. As the Asian session begins, the AUD/USD trades around 0.6495.

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USD/JPY finds its highest bids since 1990, approaches 156.00

USD/JPY finds its highest bids since 1990, approaches 156.00

USD/JPY broke into its highest chart territory since June of 1990 on Wednesday, peaking near 155.40 for the first time in 34 years as the Japanese Yen continues to tumble across the broad FX market. 

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Gold recovers from recent losses, buoyed by market interest despite a stronger US Dollar and higher US Treasury yields. De-escalation of Middle East tensions contributed to increased market stability, denting the appetite for Gold buying.

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Dow Jones Industrial Average hesitates on Wednesday as markets wait for key US data

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The DJIA stumbled on Wednesday, falling from recent highs near 38,550.00 as investors ease off of Tuesday’s risk appetite. The index recovered as US data continues to vex financial markets that remain overwhelmingly focused on rate cuts from the US Fed.

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