EUR/USD and Silver Bears are Still in the Game
Last week the currency pair EUR/USD remained in the range and formed a pattern resembling a flag and signifying the potential continuation of the trend. Should the asset break the lower boundary of the flag, it might drop. It might also break the supporting level of 1.0530. So, let’s observe whether this scenario could work out.
The price of silver formed a shooting star at the end of the trading week. The asset has touched the broken neckline of the double top, that is, the resistance level of 24.53. The asset’s price is likely to drop and potentially target the level of 22.40.
The currency pair USD/CAD has tested the lower side of the symmetrical triangle and supporting level of 1.3315. This might potentially attract the bulls and help the currency pair jump to the resistance level of 1.3650. Time will tell what might happen.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.