Online Forex broker
2019-11-11 • Updated
Recommendation:
SELL 1.311
SL 1.3165
TP1 1.301 TP2 1.2915 TP3 1.2795
On the daily chart of USD/CAD, bears try to counterattack and implement the “Bat” pattern. Its 88.6% target corresponds to 1.2795. First of all, bears need to break supports at 1.311 and 1.3055 and pull the pair out of the upward short-term channel.
On H1, there is the strong bullish trend. To counterattack, bears have to break the support at 1.311 and implement the AB=CD pattern.
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
What happened? US stocks ended sharply higher on Thursday, May 27, after a 7-week losing streak…
Next week, we expect the BOC rate statement, the OPEC+ meeting, and the Nonfarm payrolls release. Let's look at the opportunities in detail!
Amazon announced the company is going to make a 1 – 20 stock split on June 3 after the trading session close (23:30 GMT+3).
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