Fundamental view: The AUD/USD pair has extended its 2020 rally to 0.7449 this week, ending it a handful of pips below it. The Australian dollar has been steadily but painfully advancing against its American rival, and the main reason behind it seems to be the tepid tone of equities. Good news flooded Australia this week, as [...]
Fundamental view: The British pound has made a rally against greenback in the past week. The vaccine approval and hopes for US fiscal stimulus were decidedly positive, and all three themes will likely dominate the scene again, with UK growth and US consumer statistics having their time in the sun as well. Also Traders are essentially [...]
The Inverse Head and Shoulders Chart Pattern Trading Strategy is a price action trading strategy. It is exactly the opposite of the head and shoulder chart pattern trading strategy. This chart pattern is considered a bullish reversal chart pattern. That means if we see this chart pattern in a downtrend, then it may act as [...]
The USD/CAD pair is getting weaker. The oil rally seems to be supporting the Canadian dollar. West Texas Intermediate (WTI) crude, the North American oil benchmark, is trading 1.8% higher on the day near $46.40 per barrel. On Thursday, the OPEC+, a group of major producers led by Saudi Arabia and Russia, reached an agreement [...]
