USD/CAD: a breakaway gap

USD/CAD: a breakaway gap

Trade idea

SELL 1.3160; TP1.3105; TP2 1.3070; SL 1.3180

USD/CAD formed a lower high on W1. Moving averages are almost horizontal and the bullish momentum has declined. The pair can visit lower levels.

USDCADDaily.png

On D1, there’s a breakaway gap. The pair closed below the trendline support line on Monday. MACD is declining. Next Fibonacci at 1.3140 is in focus ahead of the 50-day MA at 1.3105. The rising 200-period MA at 1.3165 is still supporting the price on H4. A break below it will trigger the further decline.

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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