USD/CAD: sell in the downtrend
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.
EUR/JPY: do you see the pattern?
Information is not investment advice
EUR/JPY seems so be forming a bearish harmonic pattern – something between Crab and Butterfly. There’s still scope for upside towards the 118.70/119.85 area, where a reversal to the downside should take place. Notice, however, that it often happens that the harmonic patterns don’t reach the exact targets. On the H4, the pair’s consolidating within a kind of triangle. The break will lead it either to 117.00 or to the levels mentioned above.
Trade ideas for EUR/JPY
BUY 118.25; TP1 118.70; TP2 119.25; SL 118.10
SELL 117.40; TP 117.00; SL 117.55
Elizabeth Belugina
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EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
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