A world of Trading assets

Blog

It’s the mother of all markets, making all other types of trading possible. Every three years the Bank of International Settlements releases its survey of foreign exchange and OTC derivatives markets.
A world of Trading assets

Silver & EURCAD Are a Few Pips Away From Completing The Setup

Authored by TD Markets
20.10.2023
Technical Analysis
0
4 min
Silver & EURCAD Are a Few Pips Away From Completing The Setup

In the ever-changing world of financial markets, it's essential to keep a keen eye on the movements of various assets. As of the latest reports, Gold has successfully met its target, while Silver and EURCAD are tantalizingly close to completing their respective setups.

The XAGUSD (Silver) Performance 

(UPDATE) - Silver is a few pips away from the target.

Silver completed the bull flag and continued trading higher since the last commentary. The retest on the support zone as well as the bull flag indicated that the momentum is still bullish and thus providing trading opportunities. At the moment the market is retracing and is set to continue the uptrend according to the recent price action. Traders anticipate the market to reach the resistance zone around 23.542.

Silver & EURCAD Are a Few Pips Away From Completing The Setup

The EURCAD Performance

(UPDATE) - EURCAD is up +90 pips.

EURCAD completed the bullish continuation structure and pushed prices to the upside.

This price action and structure provided trading opportunities either at the breakout or the support zone around 1.43473. At the moment the market has rallied +90 pips in profits and just 20 pips away from the resistance zone and target around 1.44944.

Silver & EURCAD Are a Few Pips Away From Completing The Setup

The XAUUSD (GOLD) Performance 

GOLD has reached the target.

GOLD is now trading at the resistance zone around 1950.0 as well as the target. This comes after the market formed a correction and a bullish continuation pattern which indicated that buyers are still in the market and also provided bullish trading opportunities. At the moment traders are waiting for the resistance zone to be broken before looking for bullish continuation trading opportunities.

Silver & EURCAD Are a Few Pips Away From Completing The Setup

Read More: What are Safe Haven Currencies?

Final Thoughts On This Analysis

In conclusion, the financial markets continue to evolve, offering opportunities and challenges for investors and traders alike. As of now, Gold has hit its target, Silver is on the verge of completing its setup, and EURCAD is approaching the finish line, creating an exciting atmosphere for market enthusiasts. It's crucial to stay updated on these developments, as they can have a significant impact on your investment decisions in these dynamic markets. Subscribe to our YouTube channel to learn more about our analysis.

Authored by TD Markets
20.10.2023
Technical Analysis
0
4 min
TD Markets

Africa’s Most Trusted Broker

TD Markets provides you with access to the next-generation trading platform that brings a wealth of new features and enhanced performance to your trading experience, MetaTrader 5. This platform, easily accessible from any device, elevates your trading experience by providing a range of advanced features, including Advanced Trading Tools, Faster Execution, Expanded Market Access, Automated Trading, Depth of Market, and Enhanced Security.
Why TD Markets