Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
Stock market: PepsiCo is suffering
Trade idea
SELL 132.00; TP1 130.20; TP2 128.20; SL 132.50
Despite the overall positive sentiment for stocks, the stock of PepsiCo has experienced a substantial decline this week. The price broke below the support of the ascending wedge and closed below the 100-day MA at $134. In addition, the price action resembles a “diamond” pattern. All of this means that the downside will likely continue if the price slips below $132.15 (50% Fibo of the August-October advance). Targets lie at $130.15 (61.8% Fibo) and $128.10 (200-day MA). Resistance lies at $135.00 and $136.40.
Elizabeth Belugina
Similar
NZD/USD: is the correction over?
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.
Latest news
Goldman Sachs bets against USD
Has the US dollar lost a top position forever?
JPMORGAN: hammer formations
We know that hammer formation may be effective in identifying trend reversals. Let's study it a bit closer to see real-life cases.
Why USD/CAD dropped and for how long?
CAD will get fresh volatility after BOC statement on June 3 at 17:00 MT time.
Deposit with your local payment systems
