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: bulls are going to attack
2019-11-11 • Updated
On the EUR/JPY daily chart, there is a transformation of the inverted "Shark" pattern into 5-0. The return of quotes to the level of 121.8 (23.6% of the CD wave) will increase the risks of recovery of the uptrend. In contrast, a successful test of the support at 120.65 can lead to the development of correction towards 120.5 and 119.95 levels.
On the EUR/JPY hourly chart, 121.4 is the immediate resistance level. Its breakout will activate the inverted "Shark" pattern with the target of 122.45. A more secure entry point to BUY is the area of the upper boundary of the downward trading channel.
Recommendation: BUY 122,8 SL 122,25 TP 123,8.
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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...