Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
Bet on CAD/JPY
Trade idea
BUY 82.20; TP 83.30; SL 81.80
There are various ways to trade the CAD this week. There is the Bank of Canada’s meeting on Wednesday and a rate hike is expected. One of the ways is to bet on the advance of CAD/JPY.
The pair formed a “hammer” on W1 and is now likely to retrace to higher levels.
Awesome Oscillator started rising on D1. The resistance provided by the moving averages is still far away, so there’s scope for the correction up. The H4 chart shows that the last obstacle lies at 100-period MA (82.15). The target is at 83.30 (Fibo level, resistance line).
Elizabeth Belugina
Similar
NZD/USD: is the correction over?
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
Trade setups for AUD/JPY
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
Latest news
Oil rally takes breath
Oil prices have been climbing up for a long time. What have stopped them?
EUR/USD: who gets what
There has been some movement in the EUR/USD chart. What's happening?
STOCKS: reversal chart patterns
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
Deposit with your local payment systems
