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BUY 1.3230; TP 1.3275; SL 1.3215
BUY 1.3205; TP 1.3275; SL 1.3180
USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick. On the daily chart it managed to form a higher low and overcome important resistance levels of the 100- and 50-day MAs (1.3195 and 1.3205). These lines will from now on act as support for the price. Yesterday the pair closed above 61.8% Fibo retracement of the October decline at 1.3228. As a result, there’s scope for the exchange rate to go up to the 1.3275/80 area (200-day MA, 78.6% Fibo). On H4, indicators show divergence, so the pair may go lower before heading to the upside targets. Look for buy signals between 1.3230 and 1.3205. The decline below 1.3190 will open the way down to 1.3160.
USD/BRL has started the week with a substantial move to the downside. The pair formed a lower high last week, thus the price action strongly resembles the “Head and Shoulders” pattern.
Last week AUD/USD managed to take off from the 0.7660 area. Then it consolidated between 0.6855 and 0.6810.
XAU/USD ran into the resistance of the 50-day MA in the 1,481.65 area. Learn more!
USD/BRL has started the week with a substantial move to the downside. The pair formed a lower high last week, thus the price action strongly resembles the “Head and Shoulders” pattern.
Last week AUD/USD managed to take off from the 0.7660 area. Then it consolidated between 0.6855 and 0.6810.
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