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.

USDCADDaily.png

Similar

Levels to trade EUR/USD

EUR/USD met resistance in the 1.1415 area. The pair’s advance in the recent days was quite rapid, so it might be hard for the euro to retain the bullish momentum.

NZD/CHF is in a downtrend

NZD/CHF is trading within a downtrend on D1. The currency pair went below 78.6% at 0.6450 and is likely to test levels around 0.6390/70.

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