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 looks vulnerable
Information is not investment advice
EUR/JPY failed to settle above the 100-day MA. This line has a bearish bias and acts as resistance around 126.70. The weekly pivot point is also located near this area. As long as the pair is capped by this level, sellers will dominate at this market.
The ECB meeting scheduled later today will lead to an increase in volatility. There are reasons to think that the upcoming move will be to the downside. The bearish targets include a former resistance zone of 125.90 and 125.45 (Fibo level).
Elizabeth Belugina
Similar
Trade opportunities in EUR/AUD
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.
USD/JPY: follow the push higher
USD/JPY has recently formed a higher low at the end of last week. Today the pair is testing levels above the 50-day MA.
Popular
EUR/USD enters a consolidation period
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
Bad days for the greenback
The USD is trading at its 7-week low, and it looks like it will continue falling further. Why?
USD: Trump, Biden, and the future
Is Donald Trump better than Joe Biden for the stock market or not? And for Forex? Read the article, and you will know.
Choose your payment system
