USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
Important day for GBP/USD
SELL 1.3130; TP1 1.3080; TP2 1.3020; SL 1.3145
BUY 1.3235; TP1 1.33; TP2 1.34; SL 1.3215
There can be no doubt that a spike in volatility awaits the British pound today: the UK parliament will vote on Brexit.
GBP/USD has made big progress last week. The weekly pivot point lies at 1.3080: buyers will dominate as long as the pair’s trading above that point. However, on W1 the pound has reached resistance of the declining 50-week MA at 1.3220. On H4 and D1 we see that the price went rather far away from the moving averages. All of these points at the significant risk of a correction. The decline below 1.3135 will open the way down to 1.3080 and probably even 1.3015. Only above 1.3230 we will target 1.33 and 1.3425.
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.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
Oil prices have been climbing up for a long time. What have stopped them?
There has been some movement in the EUR/USD chart. What's happening?
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?