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...
USD Downside Retracement Resumes
2021-09-10 • Updated
4H Chart
Daily Chart
The US Dollar Index failed to sustain its recent gains above its 50 DAY MA, the index declined back yesterday with higher trading volume, while all eyes are on the PPI data today after mixed economic releases over the past few days and last week's jobs report. In the meantime, the technical indicators are still suggesting further declines ahead, with a possibility to retest last week's lows round 91.80, while any short position should be attached with a stop loss not to exceed this week's high.
S3 |
S2 |
S1 |
Pivot |
R1 |
R2 |
R3 |
91.78 |
92.16 |
92.32 |
92.54 |
92.70 |
92.92 |
93.30 |
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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...