Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
USD/CAD: loonie was stopped by an inside bar
2019-11-11 • Updated
BUY 1.2445 SL 1.239 TP1 1.2545 TP2 1.267
SELL 1.2375 SL 1.242 TP1 1.2275 TP2 1.21
On the daily chart, USD/CAD bears managed to lead the pair outside of consolidation range of 1.2670-1.2895. This increases the risks of the downtrend’s resumption. In the short-term traders can use the inside bar.
On H1, USD/CAD after playing out the “Widening wedge”. The pair formed a short-term consolidation range at 1.2375-1.2445. It would be wise to use breakout strategies.
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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!