Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
CHF/JPY: how to trade in a range
Trade idea
BUY 110.90; TP 111.80; SL 110.65
CHF/JPY has been consolidating within a pennant formation since February. The pair is currently at the support levels. Stochastic Oscillator on H4 shows that it’s oversold. As a result, it’s possible to expect the CAD turn higher aiming at the top of the trading range around 111.80/90.
Elizabeth Belugina
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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.
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It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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