Market Research

Forex analysis — the latest reviews of market instruments and news. All reviews are provided by analysts and shall not be considered as investment advice.

USD/CAD: general review


CAD declined yesterday against USD amid a decline in wholesale sales in Canada by 1.0% in November, which indicates a weakening of the retail sector, consumption and the economy as a whole, and also due to a decrease in the volume of manufacturing sales in November by 1.4%, which indicates a reduction in market demand.

Bitcoin: technical analysis


Bitcoin quotes attempted to grow but failed to consolidate above 3593.75 (Murrey [4/8]), and the course moved to the downward correction phase. Currently, the instrument is testing the level of 3554.69 (Murrey [3/8]), which coincides with the middle line of Bollinger bands. A breakdown and price fixing below this level will let Bitcoin decrease to the area of ​​3515.63–3476.56. If buyers manage to fix the rate above the level of 3593.75 (Murrey [4/8]), then it may continue the growth to the levels of 3632.81–3671.88.

SPX: general analysis


The US broad spectrum index S&P 500 continues to decline. The closest support level is 6/8 Murrey or 2617.2.

GBP/USD: pound is recovering


Yesterday, GBP rose steadily against USD, and GBP reached its previous two-month highs of January 17.

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