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...
NZD/USD: kiwi lost power
2019-11-11 • Updated
Recommendation:
SELL 0.7185 SL 0.724 TP1 0.7085 TP2 0.703 TP3 0.696
SELL 0.73 SL 0.7355 TP1 0.72 TP2 0.7085 TP3 0.703
On the daily chart of NZD/USD, the inability of bulls to keep the pair above the upper border of the 0.7185-0.735 consolidation range signaled their weakness and triggered the “Shakeout-Fakeout” pattern. A break of support at 0.7185 will open the way down to bears.
On H1, bears attacked as NZD/USD formed the “Spike and ledge” pattern. After it reached 88.6% target of the “Shark” patterns, the odds of a pullback to 38.2% and 50% of the wave CD increased.
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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...