During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
USD/JPY: yen is in demand
2019-11-11 • Updated
Recommendations:
SELL 106.8 SL 107.35 TP1 105.8 TP2 105.35 TP3 103.00
SELL 105.35 SL 105.90 TP1 104.35 TP2 103.35 TP3 103.00
On the daily chart of USD/JPY, there’s a sustainable downtrend. As long as the pair is below 107.9-108.2, bears are in control. A break of support at 105.35 will increase the risks of decline to 161.8% target of AB=CD and convergence area of 102.8-103.2.
On H1, the inability of bulls to keep the pair above the upper border of the triangle and reach 78.6% of the Gartley pattern is a signal for selling.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...