Trade ideas for March 28 - April 1
Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
GBP/CAD: Will a bearish wave hit soon?
2019-11-11 • Updated
GBP/CAD still hovers below the 200 SMA at H1 chart and looks like it can resume the bearish bias soon, as the pair is currently finding resistance in the supply zone established by the Fibonacci retracement levels of 50% and 65% at 1.6016 and 1.6071 respectively. If that happens, we can expect another leg lower to reach the next target around the 1.5745 level, at which is located the -23.6% Fibo zone.
To invalidate such scenario, we need to see a break above September 11th highs in order to test September 6th highs at 1.6200.
Similar
USD/CAD Short Trade
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
GBP/USD Near Supply Zone
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Latest news
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Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
WTT: Currency Pairs To Trade In April
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.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
