After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.
USD/JPY: how to trade the pair?
2019-11-11 • Updated
TP1 110.8 TP2 110.3 TP3 107.85
On the daily chart of USD/JPY, bears have been testing the bottom line of the upward channel. If the pair breaks the support at 111.6, risks of the implementation of the “Shark” pattern with the 88.6% target will increase.
On H1, there is a correction of the “Head and shoulders” pattern. A break of the neckline will increase chances that the AB=CD pattern will be implemented and the pair will reach its 200% target at 110.3.
After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?
All eyes seem to be on the US Dollar as traders await the Federal Reserve Chair's speech this Thursday at the Cato Institute's Annual Monetary Conference.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy