Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/JPY: a reversal is close
Recommendation:
SELL 110.85 SL 111.4 TP1 109.85 TP2 109 TP3 108.55
On the daily chart, USD/JPY is trading within an uptrend channel. Bulls remain in control of the situation. At the same time, the closeness of convergence area of 110.85-111.15 (61.8% of the last medium-term descending wave + 113% target of the “Shark”) increases the risk of bears’ counterattack.
On H1, the fact that USD/JPY is renewing May high will allow it to 161.8% and 200% targets of AB=CD and increase the odds of the reversal “Three Indians” pattern.
Ivan Karamazov
Similar
NZD/USD: is the correction over?
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
Trade setups for AUD/JPY
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
Latest news
Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD: technical outlook
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
Moderna: is it still the leader in COVID-19 fight?
While biotech companies are struggling to find the vaccine, investors make bets who’ll win this race.
Deposit with your local payment systems
