After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.
EUR/USD: a negative scenario
2019-11-11 • Updated
SELL 1.1175; TP 1.1120; SL 1.1195
EUR/USD met resistance at 1.1280 last week: the euro made 3 unsuccessful attempts to break higher. Then the currency pair traveled lower, below 1.12. The fact that it broke below the 1.1280/1.1200 range on H4 indicates that it will likely follow through and go another 80 pips down targeting the area of 1.1120/00. The decline below 1.1180 (June low) should trigger a further selloff. This idea is in line with the weaker euro ahead of the European Central Bank’s meeting later this week.
After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?
All eyes seem to be on the US Dollar as traders await the Federal Reserve Chair's speech this Thursday at the Cato Institute's Annual Monetary Conference.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy