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...
GBP/CAD: technical levels
2019-11-11 • Updated
Trade idea
SELL 0.6810; TP 1.6700; SL 0.6835
Last week, the advance of GBP/CAD was contained by the 100-week MA at 1.71. On the D1, the pair closed yesterday below the 200-day MA at 1.6883. The pair has now room for a correction down to 1.6690 (September high) and 1.6640 (38.2% Fibo retracement of the August-October advance). The decline will be triggered if the price breaks below the 50-period MA on the H4 in the 1.6840 area. The pound’s attempts to recover from the current levels will meet resistance at 1.6935 (MAs on the H1) and 1.7000.
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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...