Stocks, oil, and risk currencies gained on Tuesday as the formal go-ahead for US President-elect Joe Biden to begin his transition burnished a November already boosted by Covid-19 vaccines.
CHF/JPY: how to trade in a range
Information is not investment advice
CHF/JPY has been consolidating within a pennant formation since February. The pair is currently at the support levels. Stochastic Oscillator on H4 shows that it’s oversold. As a result, it’s possible to expect the CAD turn higher aiming at the top of the trading range around 111.80/90.
EUR/USD fell below 1.1850 after reaching 1.1920 on Monday. The pair consolidated after the initial bearish move.
USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
U.S. stocks are set to open higher Friday, although gains are likely to be limited with the market set to close early in the aftermath of the Thanksgiving Holiday.
Asian shares stalled near record highs on Friday
CIBC anticipates USD/ZAR will end 2020 at around 15.15, and 2021 at 14.95.