On Friday the markets were under the influence of Ben Bernarke’s speech about a possible new round of quantitative easing, which determined the dynamics of quotations in the second part of the day on all of the instruments.
Thus EURUSD pair made an attempt to break down the current trading diapason, but at the end of the day the quotations were not able to linger higher than the border of the diapason and the following week the pair will begin in the diapason which means that there is no signal for buying yet. It is worth being careful with purchases, since a fake Friday breakdown might be an indicator of deployment of ascending tendency.
One of the instruments that demonstrated a strong reaction to Benarke’s speech was gold. That literally broke down the resistance level of 1677, and the quotations of which closed far from it. People who did not make any attempts on Friday may wait for the correction on Monday-Tuesday, which may occur.
Despite the growth of American dollar, Canadian dollar has added significantly and broke down the support level of 0.9864, unlike its Southern brother, but it is early to assume that breakdown is over until the next trading day ends. That is why the next week may bring the news on the breakdown and accordingly of appearance of signals for sale or the return of quotations in the previous trading diapason.
Monday isn’t a good day to begin trading, since it is a holiday in the USA and the local exchange markets will not work which will influence the liquidity of markets, which may lead to ambiguous movements of financial instruments especially those connected with the USA or dollar.Social button for Joomla