Gold contracts increased more than 10% since the beginning of this year. The reason is last US dollar weakness (USD Index -6.40% YTD) and geopolitical tensions between USA and North Korea.
We can see interesting potential scenario on the USD/JPY daily chart.
USD/CAD is still in down trend on higher time frames. On the daily chart yesterday we saw rejection from 1.2580 and candle close with long bearish wick.
EUR/USD pair has gained almost 12% since the beginning of this year. Last rally has been stopped by hawkish FED’s rhetoric what resulted in odds increase for December 25 bps. rate hike by 82% for now.