During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
EUR/JPY: bears are losing power
2019-11-11 • Updated
Recommendation:
BUY 133.05
SL 132.5
TP1 134.45 TP2 135.5
On the daily chart, after EUR/JPY reached 161.8% target of AB=CD and corrected, it rebounded from the key support level at 132.05. Bulls are trying to use pin bar and resume the uptrend.
On H1, EUR/JPY formed a “Widening wedge” and broke below the diagonal support in the lower part of the trade channel. To resume the uptrend, bulls will need to return the pair inside the trend channel. To do this, they should get above resistance at 133.05.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...