Good day traders! Let’s take a better look at USDCAD and Gold.
USD is looking for some support today, now also moving up against commodity currencies, as metals and oil prices come lower. We are looking at USDCAD which can be moving up now within wave 4 bounce that can face limited upside this week around 1.2238.
USDCAD, 1H
Decline on gold is quite sharp from end of last week; it looks impulsive so we are wondering if deeper correction is in play. Ideally that’s wave A as part of a wave 4. If we are on the right track then there is room for a drop down to 1310/1315 this week, but after a short-term rally up in wave B.
GOLD, 1H
