On October 28 European Central Bank held a press conference. Inflation has hit Europe and now the time has come for more profound steps in the fight with the post-pandemic economy. What should we know to trade these events?
Downside target for USD/CAD
2020-05-27 • Updated
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips. The pair closed below the April-May support line and the 50% Fibo retracement of the 2019-2020 advance. As you may see on the chart, the price broke out of the consolidation range within which it had spent a couple of months.
The next Fibonacci level is at 1.3605. Before that, the pair can have support of the 100-day MA (1.3705). On the H1, USD/CAD formed a triangle – a bearish continuation pattern.
Trade idea for USD/CAD
SELL 1.3750; TP1 1.3705; SL 1.3770
The Turkish lira has been pressed by Turkey’s central bank (CBRT). Analysts believe USD/TRY will reach 10.00 by the year's end.
The riskier New Zealand dollar skyrocketed and pushed the NZD/USD pair up to the resistance level of 0.7150. How to trade it now?
USD/TRY belongs to the exotic group of Forex currency pairs, that’s why traders don’t trade it regularly. However, these days this pair is in the focus of all the trading community!
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