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...
EUR/JPY: bears are ready for a new attack
2019-11-11 • Updated
Recommendation:
SELL 128 SL 128.55 TP1 126.90 TP2 125.80
On the daily chart, bears attempted for the second time to test important support at 128. It failed, but sellers don’t give up and hope to develop correction and reach 88.6% target of “Shark” pattern.
On H1, EUR/JPY formed “Head and Shoulders” pattern. A break of the neckline near 128.00 support with simultaneous activation of the AB=CD pattern will create an opportunity for a pullback to the uptrend towards 125.60-125.80.
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