Source: PaxForex Premium Analytics Portal, Technical Insight The price of gold fell on Wednesday due to the strengthening of the dollar. At the same time, uncertainty before the presidential elections in the U.S. and concerns about the growth of coronavirus infection in the world are holding back the downtrend. GOLD/USD, 30 min Pivot: 1880.43 Analysis: Provided that the price is below 1885.00, follow these recommendations: Time frame: 30 min Recommendation: short position Entry point: 1880.43 Take Profit 1: 1869.00...
Source: PaxForex Premium Analytics Portal, Technical Insight During the last day in Canada, the number of people affected by coronavirus has increased by 2 thousand 788 and reached 209 148. It was reported in the Ministry of Health of the country. The previous anti record for morbidity was set on October 9. Then specialists recorded 2 thousand 558 cases of virus SARS-CoV-2 infection USD/CAD, 30 min Pivot: 1.3292 Analysis: Provided that the currency pair is traded below 1.3325, follow the recommendations below: Time...
Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock indices did not show a single trend at the end of trading on Tuesday after a sell-off in the U.S. stock market the day before. The fall of the Dow Jones on Monday was the highest since the beginning of September - 2.29%. Data on new cases of coronavirus infection in the USA continue to exert pressure on the market. As of Monday, the average number of new infections in the U.S. over the past seven days was a record of 69.97 thousand per day, reports CNBC,...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of Japan will revise its economic and inflation forecasts, which will be presented in the quarterly report of the Central Bank. As one source commented, forecasts for the next fiscal year will be weaker than three months ago. The main driver of such revision is the economy subsidence in April-June, which exceeded the forecasts, and low consumption in the summer period USD/JPY, 30 min Pivot: 104.28 Analysis: Provided that the currency pair is traded below...
Source: PaxForex Premium Analytics Portal, Technical Insight The gold price rose above $1,900 per ounce on the backdrop of a decline in the dollar and uncertainty due to the US pandemic and elections. U.S. House Speaker Nancy Pelosi reported Thursday on progress in talks with the White House on new measures to help the economy combat the effects of COVID-19, but Senate Republicans remain skeptical of a possible trillion-dollar deal. GOLD/USD, 30 min Pivot: 1907.00 Analysis: Provided that the price is above 1900.00, follow...
