Brad Alexander
FX Large Limited
If you caught our last 2 videos we were looking at long on USDCAD and a short on AUDCAD.
Well ,look what happened, again!
Price action on USDCAD might be finishing its bull run as it has formed an ascending triangle.
We will need to see a break above or a break below before determining the next run.
AUDCAD fell just after we posted the video.
We see this level of support from August but room to move to the downside with key support from the spring of last year.
Silver seems to be continuing its bear run which started in October and we will watch for signs of a reversal.
The stochastic oscillator has turned over from overbought but we also see price action in a falling wedge which may affect our longer-term view.
Last Friday the US Non-Farm payrolls report deviated dramatically from the analysts’ predictions so many of our setups were turned upside down.
For example, the US indices broke out of their range to the downside but we will be watching for a technical reversal.
Also on Friday, the US imposed more sanctions on Russian oil, driving WTI higher.
We are now seeing a key level at $78 with no real sign of a reversal yet.
For the rest of the week, we have some market-moving economic news from the US, the UK and Australia so watch for volatility and opportunities.
For example, we are in a clear uptrend on EURAUD but we will wait for bounces off the lower trend line and technical signals like an oversold stochastic oscillator.
While we may offer market commentary based on fundamental or technical analysis, we do not offer trading advice and cannot be held liable for any decisions taken by viewers and readers of our material.
Recommended Content
Editors’ Picks
EUR/USD bounces off lows, retests 1.1370
Following an early drop to the vicinity of 1.1310, EUR/USD now manages to regain pace and retargets the 1.1370-1.1380 band on the back of a tepid knee-jerk in the US Dollar, always amid growing optimism over a potential de-escalation in the US-China trade war.
GBP/USD trades slightly on the defensive in the low-1.3300s
GBP/USD remains under a mild selling pressure just above 1.3300 on Friday, despite firmer-than-expected UK Retail Sales. The pair is weighed down by a renewed buying interest in the Greenback, bolstered by fresh headlines suggesting a softening in the rhetoric surrounding the US-China trade conflict.
Gold remains offered below $3,300
Gold reversed Thursday’s rebound and slipped toward the $3,260 area per troy ounce at the end of the week in response to further improvement in the market sentiment, which was in turn underpinned by hopes of positive developments around the US-China trade crisis.
Ethereum: Accumulation addresses grab 1.11 million ETH as bullish momentum rises
Ethereum saw a 1% decline on Friday as sellers dominated exchange activity in the past 24 hours. Despite the recent selling, increased inflows into accumulation addresses and declining net taker volume show a gradual return of bullish momentum.
Week ahead: US GDP, inflation and jobs in focus amid tariff mess – BoJ meets
Barrage of US data to shed light on US economy as tariff war heats up. GDP, PCE inflation and nonfarm payrolls reports to headline the week. Bank of Japan to hold rates but may downgrade growth outlook. Eurozone and Australian CPI also on the agenda, Canadians go to the polls.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.