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: buyers have a good chance
2019-11-11 • Updated
Recommendation:
BUY 130.8
SL 130.25
TP1 131.8 TP2 132.8 TP3 133.8
On the daily chart, EUR/JPY is forming a “Dragon”. A break of resistance levels at 130.5 and 131.2 (Fibonacci levels of 78.6% and 88.6% of the wave AD of the “Bat” pattern) and renewal of the “Dragon’s” head will allow bulls to continue the way up.
On H1, a “Shark” is transforming into 5-0. After a pullback from support at 38.2% of the wave CD, bulls seized the initiative. The necessary condition for the continuation of the rally will be the increase above resistance at 130.8.
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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...