USD/CHF targets lower levels
USD/CHF continues its December descent. The pair’s attempt to return above the 0.9845 area has failed.
GBP/CAD is insatiable
Information is not investment advice
GBP/CAD has been rising since the start of September. In November, it has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area. This week the price is above the 100- and 200-week MAs at 1.71 and 1.7155 respectively. The weekly candlestick hasn’t closed yet, so there are reasons to worry that the breakout to the upside is a false one.
At the same time, there’s still some space on the upside until GBP/CAD hits the next major resistance: there’s a 100-month MA at 1.7285 and the 78.6% Fibo retracement of the May-August decline at 1.7335. These levels may attract the market. As a result, short-term buying with there targets looks possible. It will be necessary to be careful, though, when the price reaches the resistance and consider selling if signals from price action like pin bars arrive at this point.
Elizabeth Belugina
Similar
NZD/USD will move on the Fed’s meeting
NZD/USD met resistance around 0.6565 (61.8% Fibonacci of the July-October decline, top of the October-December bullish channel).
EUR/CHF: don’t trust the euro
The upside of EUR/CHF has so far been limited by 1.0975. On Monday, the pair slipped below 1.0940 resuming the decline that started last week.
Popular
Where S&P 500 ends this year and starts the next one
S&P 500 was a gainer in 2019 with a rally of more than 25% so far. It seems like the index may show the best performance since 2013 and the third-strongest annual gain in 19 years.
Your guide to trading the US-China trade war
An examination of how the US-China trade tensions have been influencing the USD/CNH and how to trade on it.
OPEC meeting: a look at the outcomes
What are the importance of OPEC meetings and their influence on oil prices? This article examines the main factors answering this question.
Choose your payment system
