2019-11-11 • Updated
Recommendations:
BUY 0.8905 SL 0.8850 TP1 0.8975 TP2 0.9015
SELL 0.8855 SL 0.8910 TP1 0.8785 TP2 0.8695
On the daily chart, EUR/GBP keeps long-term consolidation in the 0.8695-0.9015 range. Until the pair gets out from the narrow range, traders should focus on strategies with small targets.
On H1, to continue the rally EUR/GBP bulls should conquer resistance at 0.8905 and return the pair inside the uptrend channel. On the other hand, a decline of the euro below support at 0.8855 will increase the risk of the pair going to 88.6% target of the “Shark” pattern.
During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
Canadian retail sales showed a slight rebound in February, rising by 0.1% after a 0.3% drop in January. However, this failed to fully offset the steeper decline earlier in the year, suggesting a weakening momentum in consumer spending. The increase in February was driven by gains in sectors such as sporting goods, hobby retailers, and building materials. Despite the...
Discover why FBS reduced the GBPCAD spread and what to do next!
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
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...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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