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/TRY: levels to trade
2019-11-11 • Updated
Trade ideas
SELL 5.7320; TP 5.7180; SL 5.7400
BUY 5.7750; TP 5.7960; SL 5.7660
USD/TRY has broken above the descending wedge. It is currently testing levels above the 50-day MA at 5.7372. The price action on the H4 is in line with the parameters of the bearish “Shark” pattern. That would imply the reversal down from the area below the resistance at 5.7660 (38.2% Fibo of the October-November decline, 100-period MA on the H4). The target for selling, in this case, will be at 5.7180 (50-period MA). A break above 5.7700 would shift the focus to the upside, to the levels like 5.7960 (50% Fibo) and 5.8265 (61.8% Fibo).
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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...