Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
USD/CAD is under short-term pressure
2019-11-11 • Updated
SELL 1.3340; TP 1.3310; SL 1.3350
BUY 1.3375; TP 1.3430; SL 1.3360
USD/CAD broke below 1.3370 on Friday. This level will provide the short-term resistance for the pair acting as a neckline for the “Double top”. As long as the price stays below this level, the near-term focus will be on the 100-day MA at 1.3310.
The advance above 1.3370 will open the way up to 1.3430 where USD/CAD will meet resistance provided by the line connecting March highs.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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