EUR/CAD has reached the top of the range

EUR/CAD has reached the top of the range

Trade idea

SELL 1.4640; TP 1.4590; SL 1.4655

EUR/CAD strengthened last week but ran into the resistance of the 100-day MA around 1.4675. It’s where the upper part of the range, within which it has been trading since the start of September, is. On the D1, the pair touched the upper Bollinger Band. With the Stochastic Oscillator trying to exit the overbought area and cross the signal line to the downside, the odds that the price will move down, at least to the middle of the range, are high. The trigger to sell may be on the decline below 1.4640 (Oct. 31 low). The target for selling lies at 1.4590 (50-day MA). 

On the upside, a break above 1.4720 (Oct. 31 high) is needed to open the way up to 1.4860 (200-day MA).

EURCAD.png

Similar

USD/CHF may rise a bit

USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.

NZD/CHF: earning on volatility

NZD/CHF fell this week as the Swiss franc appreciated versus other currencies. However, the positive market sentiment related to the US-China trade deal helped the pair to find support in the 0.6355 area.

Latest news

USD/CHF may rise a bit

USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.

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