USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
Bitcoin: a trade idea
BUY 3970; TP1 4055; TP2 4030; SL 3940
Bitcoin is a high volatility thing. The outlook changes fast and there’s a general downtrend. Yet, it seems that there may be a harmonic pattern forming that can give the cryptocurrency a short-term bullish impulse.
Have a look. The point D of a Gartley pattern should occur around 78.6% Fibo. It this case, the move up may stretch up to 4138. A buy trade will be recommended only if the price gets above 61.8% Fibo.
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.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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