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/USD: euro liked pin bars
2019-11-11 • Updated
Recommendations:
BUY 1.1925 SL 1.187 TP1 1.1995 TP2 1.2085
BUY 1.1985 SL 1.193 TP1 1.2085 TP2 1.2185
On the daily chart, bears’ failure to rise above 1.1845 points at their weakness. This is confirmed by a pin bar with a long lower wick. Traders should favor buying on the break of resistance aiming for 161.8%, 200% and 224 targets of AB=CD pattern.
On H1, EUR/USD may form 1-2-3 pattern on correction. The break of resistances at 1.1925 and 1.1985 will be a signal for long positions.
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Following yesterday's dovish Fed announcement, market expectations for a full 25 basis point hike from the Fed's yearly outlook were scaled back, causing the dollar to weaken. Consequently, EUR/USD saw gains as the dollar depreciated, testing resistance levels around 1.0942 and 1.0960, which correspond to Fibonacci retracements of previous...
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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...