Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/USD ran into an obstacle
Trade idea
SELL 1.1327; TP1 1.1305; TP2 1.1275; SL 1.1340
EUR/USD ran into a bunch of resistance levels between 1.1375 and 1.1420. On D1, there are two pinbar candlesticks with long upper wicks. This is a sign that traders are actively selling the euro on its attempts to recover. There’s nothing overly surprising in that: the single currency awaits the ECB meeting on Thursday and dovish comments are expected from the regulator’s head Mario Draghi.
The pair closed this week's bullish gap very fast. The dip below 1.1330 will make it vulnerable for the decline to 1.1305 and 1.1275. The short-term resistance is located at 1.1350.
Elizabeth Belugina
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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.
Trade setups for AUD/JPY
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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