USD/CAD managed to bounce off its support area mentioned in our previous report at 1.2060’s and continued to rise throughout yesterday’s trading reaching as high as 1.2141
DAX 30: close to test a strong resistance zone
2019-11-11 • Updated
DAX has been moving in a recovery phase since March and while gains are capped by the 200 SMA at H4 chart, the index scopes to consolidate above the Fibonacci level of 50% at 12659. Around that area, we can expect a pullback that help to strengthen the overall bearish bias that takes it to reach the Fibonacci zone of -23.6% at 11283, as the main target to the downside. However, a break above 12940 should open the doors for visit the highs from January at 13594.
RSI indicator stays in the positive territory, calling for another higher extension.
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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...