Trade ideas for March 28 - April 1
Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
GBP/CAD targeting lower levels
2019-11-11 • Updated
It seems the GBP/CAD looks forward to resume the bearish bias in the short-term, as it has been correcting the cycle started from May 18th and now, we can expect another leg higher to re-test the Fibonacci level of 50% at 1.7255. Around that area, a pullback could happen in order to go towards the -23.6% Fibo zone at 1.7054. To the upside, a breakout above the 200 SMA should expose the highs from May 18th.
RSI indicator remains in the negative territory, favoring to the bears.
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USD/CAD Short Trade
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
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GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
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