Gold has been ranging since the middle of April and looks to continue to trade to support after failing to break the previous high.
Trading Idea: Buying off support ad selling off resistance levels until there is a clear breakout
USDCAD has been bearish this week retracing from last weeks highs and is trading towards the daily trendline. One could short the pair until then before reversing and buying from the support levels.
USDCHF currently ranging
Either look to sell on a bearish signal at resistance
Buy on a bullish signal at support
Take profit levels are the initial S&R levels and
2nd take profit levels are the next S&R levels
The Bank of England
The Bank of England is the central bank of the United Kingdom. It was established in 1694 and was privately owned in the beginning, the Bank was nationalized in 1946 so now is completely owned by the UK government. BOE’s main reason to be is to maintain monetary and financial stability in the country. Some of its other tasks are producing secure bank notes, operating asset purchase facility and keeping the inflation low and stable.BOE Official Website, on Twitter and Facebook
The European Central Bank (ECB)
The European Central Bank (ECB) is the central bank empowered to manage monetary policy for the Eurozone and maintain price stability so that the euro’s purchasing power is not eroded by inflation. The ECB aims to ensure that the year-on-year increase in consumer prices is less than, but close to 2% over the medium term. Another of its tasks is the one of controlling the money supply. The European Central Bank’s work is organized via the following decision-making bodies: the Executive Board, the Governing Council, and the General Council. Mario Draghi, a member of the Executive Board, is also the President of this organism.
The Federal Reserve Bank (Fed)
The Federal Reserve System (Fed) which is the central banking system of the United States. Fed has two main targets: to keep unemployment rate to their lowest possible levels and inflation around 2%. The Federal Reserve System’s structure is composed of the presidentially appointed Board of Governors, partially presidentially appointed Federal Open Market Committee (FOMC). The FOMC organizes 8 meetings in a year and reviews economic and financial conditions. Also determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth.