Last week was a very slow one for us in the Forex Market. We put on two trades this week, one was closed on Friday, USD/CAD, with a nice profit. The other trade is still open and we are looking at the probability of closing it for a good profit before we take off for the Thanksgiving Day holiday.
As noted many times, Gold is a very good asset to review when trying to price commodities and inflation. Below we look at a weekly chart of XAU/USD to see what it means for the Forex market and general risk sentiment.
It's no secret that commodities, especially oil have an effect on Forex markets and vice versa. Multiple pairs, such as USD/CAD, NZD/USD and AUD/USD can be affected by the movement in the price of oil. Today let's take a look at where oil is and where we think it will be headed to see the possible effect in the Forex market.
