USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
NZD/CAD could find a top around 0.8930
2019-11-11 • Updated
NZD/CAD managed to make a rebound above the May 17th lows and it’s currently making a retracement from the decline held since May 8th. So, far, the pair is approaching the Fibonacci level of 50% at 0.8933, where a pullback is likely to happen in order to resume the bearish bias and put the focus towards the -23.6% Fibo zone at 0.8715. However, if the 0.8978 level gives up, then it can do a rally to test the highs from May 8th at 0.9081.
RSI indicator stays in the overbought territory, favoring to a pullback
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All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
USD/CAD managed to advance further yesterday breaking above 1.21, reaching as high as 1.2128 earlier today, while our long signal that was issued at 1.2060 is now in profit with over +60 pips.
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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...