Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
GBP/USD is under pressure
Trade idea
SELL 1.2940; TP1 1.2890; TP2 1.2865; SL 1.2955
GBP/USD formed a lower high just above 1.30 (psychological level, 50-week MA). It’s now hovering at the 200-day MA in the 1.2955 area. Daily Awesome Oscillator is at the negative territory. On H4, the 50-period MA is about to decline below the 200-period MA confirming that the market has topped in the near term. As long as the pound is trading below 1.2985, bears will dominate the market.
Elizabeth Belugina
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It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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