Micro-investing is a new form of investing that has only recently sprung out of the fintech sector. The way micro-investing works is you link your bank cards up with your micro-investing app so that every time you spend money, the app automatically rounds up your purchase to the nearest dollar and then takes that small amount and puts it into a pre-agreed diversified investment portfolio for you on your behalf.
This process is fully automated and thus allows individuals with little financial markets knowledge, as well as those who can only afford to put small amounts of money aside for investing, to become investors. Moreover, due to the power of compounding interest, the [...]
Key PointsThe British Pound recently traded higher after forming a support at 1.2770-80 against the US Dollar. The GBPUSD pair broke a major bearish trend line at 1.2855 on the hourly chart to move higher. Today in the UK, the Nationwide Housing Prices were released for May 2017. The outcome was below the forecast, as there was a decline of 0.2% (MoM), more than the forecast of -0.1%. GBPUSD Technical Analysis
The British Pound after trading towards 1.2750-70 against the US Dollar, started trading in a range and consolidated. Later, the GBPUSD pair gained momentum, and moved above the 1.2800 resistance for a move towards 1.2900.
During the upside, the pair [...]
Key PointsThe US Dollar after trading lower found support at 1.3570 against the Canadian Dollar. The USDCAD pair is attempting a recovery, but facing two important bearish trend lines with resistance near 1.3630 on the hourly chart. Recently in Canada, the Manufacturing Shipments figure for March 2017 was released by the Statistics Canada. The result was in line with the forecast, as there was an increase of 1% in the Manufacturing Shipments. USDCAD Technical Analysis
The US Dollar was under pressure this week and traded below 1.3650 against the Canadian Dollar, and later managed to find support near 1.3570. The USDCAD pair started a recovery, and just moved above the 23.6% [...]
Key PointsThe US Dollar moved towards 1.3650 against the Canadian Dollar before finding resistance. The USDCAD pair moved down, and broke a bullish trend line at 1.3557 on the hourly chart. Recently in Canada, the Retail Sales for Feb 2017 (MoM) was released by the Statistics Canada. The outcome was below the forecast, as there was a decline of 0.6% in sales in Feb 2017. USDCAD Technical Analysis
The US Dollar moved nicely and traded towards 1.3650 against the Canadian Dollar. The USDCAD pair traded as high as 1.3647 where it faced offers, and started a downside move.
The pair traded lower, and broke the 23.6% Fib retracement level of the last wave from the 1.3411 [...]