Gold Price Forecast – A Test of $1525 Likely Before a Correction
The June breakout above $1370 signaled a new bull market in gold. The initial surge took gold to $1442.90 before prices entered a running consolidation. Monday’s close above $1470 registered a short-term breakout, and this wave higher should test $1500 – $1525. From there, I suspect we will see a more profound multi-week correction.
USD/CAD Daily Forecast – Bulls Resiliently Hovering Near Multi-Month Top
On the event front, the Canadian July Ivey Purchasing Managers Index s.a. data release might attempt to tweak the pair’s daily movements. On the hourly chart, the USD/CAD pair was resiliently moving upward
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