USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/GBP may finally leave its range
BUY 0.8660; TP1 0.8710; TP2 0.8760; SL 0.8845
SELL 0.8580; TP 0.8540; SL 0.8595
EUR/GBP had an extremely volatile month. If we look at the daily chart, we’ll see a diamond-shaped broad consolidation range. The fact that we finally got some big news about Brexit (a delay until October 31) can allow the pair to finally break out of this pattern.
Technical indicators suggest that a break to the upside seems more likely. Notice, however, that breakout trading is risky and requires thoughtful risk management. The negative pressure will return if the pair gets back below 0.8590.
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.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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