AUDCAD Wave Analysis 16 October, 2020

October 16, 2020 at 03:23PM

ADVERTISEMENT

Sponsored by Harvey Nichols Founded in 1831, a British luxury department store.

ADVERTISEMENT

ADVERTISEMENT

Sponsored by Harvey Nichols Founded in 1831, a British luxury department store.

ADVERTISEMENT

• AUDCAD broke support area

• Likely to fall to 0.9270

AUDCAD recently broke the support area lying between the support level 0.9380 (which stopped the previous downward impulse wave (i)) and the support trendline from May.

The breakout of the support level 0.9380 coincided with the breakout of the 50% Fibonacci correction of the upward impulse from May.

AUDCAD is likely to extend the losses toward the next pivotal support level 0.9270 (low of waves (a) and (c) from June).

From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/audcad-wave-analysis-16-october-2020-20201016/
Selected by fonecable.com

Search Web: AUDCAD Wave Analysis 16 October, 2020

About Post Author

fonecableco

fonecable@hotmail.com

Happy

0 %

Sad

0 %

Excited

0 %

Sleepy

0 %

Angry

0 %

Surprise

0 %

24S Worldwide (APAC/EU/US)24S | GET UP TO 300£/$/€ OFF ON YOUR BACK-TO-OFFICE LOOK | **CODE: SHOP100 / SHOP200 / SHOP300**

easypM6CaP — Free Currency Card in the UK; Free Currency Accounts; UK Residence Only

ADVERTISEMENT

HN4WOMAN — Sponsored by **Harvey Nichols** Founded in 1831, a British luxury department store.

ADVERTISEMENT

EUR/USD stable near 1.1740 with Fed officials suggesting a pause in easing 12 December 2025

EUR/USD holds firm at around 1.1741 on Friday virtually unchanged, amid a parade of Federal Reserve officials crossing the wires, following last Wednesday's 25 basis points rate cut.

GBP faces headwinds despite budget relief – Rabobank 12 December 2025

The Pound Sterling (GBP) remains under pressure heading into 2026 amid flat UK growth and the Bank of England’s ongoing easing cycle.

Copper hits record near $12,000 – Commerzbank 12 December 2025

Copper prices surged to nearly $12,000 per ton following the Fed’s rate cut, up 36% year-to-date amid concerns that supply may lag rising demand.

Silver hits record high at $64.3 – Commerzbank 12 December 2025

The price of Silver is currently skyrocketing. Yesterday, the price reached a new record high of $64.3 per ounce, Commerzbank's commodity analyst Carsten Fritsch notes.

JPY softens ahead of BoJ policy decision – Scotiabank 12 December 2025

The Japanese Yen (JPY) is slightly weaker versus the US Dollar (USD), underperforming most G10 currencies, as markets await next week’s BoJ meeting where a 25bps rate hike is widely expected.

WTI Price Forecast: Bearish technical setup keeps WTI capped below $60.00 12 December 2025

West Texas Intermediate (WTI) Crude Oil remains under pressure on Friday, with prices struggling to find traction as persistent oversupply concerns continue to dominate market sentiment.

Gold reclaims $4,300 on Fed rate cut tailwinds – Commerzbank 12 December 2025

Gold rose above $4,300 per ounce as the Fed delivered a widely expected 25bps rate cut, with Chairman Powell signaling that labor market weakness and tariffs may prompt further easing.

GBP holds weekly gains despite modest pullback – Scotiabank 12 December 2025

The Pound Sterling (GBP) trades slightly lower but retains most of its weekly gains as UK data show mixed industrial performance and a wider trade deficit.

Cheaper European Gas diverts Qatari LNG toward India – Commerzbank 12 December 2025

Lower European Gas prices (TTF) are having an impact: according to an analysis of ship tracking data by Bloomberg, LNG shipments from Qatar have recently been diverted away from Europe to India, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.

EUR holds gains ahead of ECB meeting – Scotiabank 12 December 2025

The Euro (EUR) trades defensively after modest weekly gains versus the US Dollar (USD), with short-term rates and ECB messaging offering fundamental support.

Nasdaq (NQ_F) Elliott Wave: Buying the dips in a blue box 12 December 2025

In this technical article, we are going to talk about another Elliott Wave trading setup we got in E-mini Nasdaq-100 Futures. Recently NQ_F made a clear three-wave correction. The pull back completed as Elliott Wave Double Three pattern and made a decent rally.

Russian seaborne Oil exports hit highest level since early 2022 – Commerzbank 12 December 2025

Russian seaborne Crude exports have surged to multi-year highs, but a growing share appears unsold and stored afloat.

CAD hits strongest level since September – Scotiabank 12 December 2025

The Canadian Dollar (CAD) is extending its steady outperformance, backed by supportive rate differentials and a weakening US Dollar (USD) trend.

You have to be long this 12 December 2025

S&P 500 attempted one more flush right after the opening bell (led of course by Nasdaq), and I insisted to clients such a panicky selling was a gift to be bought, in ES of course as tech was and still is about to lag – it‘s not so much about ORCL poor earnings (reception), or […]

IEA forecasts considerable but slightly smaller oversupply – Commerzbank 12 December 2025

The IEA now expects a smaller—but still hefty—Oil surplus in 2025, as softer OPEC+ output and firmer demand narrow the gap.

USD consolidates as markets await NFP – Scotiabank 12 December 2025

The US Dollar (USD) is broadly consolidating despite soft sentiment, with the Dollar Index (DXY) heading for a third straight weekly decline and mirroring its 2016–17 trajectory.

Fed’s Hammack: Committed to achieving Fed's 2% inflation target 12 December 2025

Federal Reserve (Fed) President of the Bank of Cleveland, Elizabeth Hammack, said on Friday that the lack of data during the shutdown made it harder to read inflation. She also said that she is very grateful that the government data returned.

GBP/JPY stays firm near multi-year highs as focus shifts to BoE and BoJ decisions 12 December 2025

The British Pound (GBP) trades on the front foot against the Japanese Yen (JPY) on Friday, as the Yen struggles to gain traction despite growing expectations of a Bank of Japan rate hike next week.

Oil: US Crude production hits record high – Commerzbank 12 December 2025

The EIA projects US Crude production to peak at 13.87 million b/d in October before easing in 2026, while a global supply surplus of 2 million b/d is expected to push Brent prices down to $55.

Gold nears record highs as dovish Fed outlook underpins demand 12 December 2025

Gold (XAU/USD) extends its advance on Friday as expectations build for further monetary policy easing by the Federal Reserve (Fed) after this week’s interest rate cut. At the time of writing, XAU/USD is trading around $4,340, just shy of its all-time high near $4,381, marked on October 20.

Breaking News

October 16, 2020 at 03:23PM

ADVERTISEMENT

ADVERTISEMENT

Recent Posts

ADVERTISEMENT

ADVERTISEMENT

Related Listening

December Reports

November Reports

October Reports

September Reports

August Reports

July Reports

ADVERTISEMENT

Average Rating

Leave a Reply

Related Post

Featured widget