USD/CAD keeps falling

USD/CAD keeps falling

Trade idea

SELL 1.3220; TP 1.3165; TP2 1.3070; SL 1.3145

USD/CAD has turned sharply down at the start of January and has been declining since then. It looks like the fall may stretch. The pair fell below the support line and 50-day MA. The Awesome Oscillator has entered negative territory. It’s now at the top of the daily Ichimoku Cloud and September 6 high (1.3225). A decline below this level will open the way down to 1.3165 and 1.3067.




USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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