Commodity Currencies Further Sell Off?

It has been a volatile period for commodity currencies. This week I'll be looking at AUD/USD NZD/USD, USD/CAD and gold.

AUD/USD completed a head & shoulders pattern with price breaking out of its neckline. It's currently forming a potential bearish flag pattern that could Yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a Read this Term further downside.

NZD/USD is in a similar situation with a clear down trend on the weekly charts. Looking at the 4 hour chart, you can see price respecting the area between 20 & 50 EMA which could provide a shorting opportunity.

USD/CAD has been trading higher over the last 4 weeks and momentum is clearly to the upside. My bias for this is to go long.

Gold is the shocker this week as it had a massive sell down early Monday morning. This is a prime example of why one must always have a stop loss when trading the markets. Because anything can happen.

I wish you good luck and good trading, talk to you soon!