EUR/JPY: on the way up
EUR/JPY is likely to move further within an uptrend. Look for the break out above 121.55!
Levels for trading USD/CAD
Information is not investment advice
Last week, USD/CAD showed some resilience. Despite the previous candlestick with the long upper shadow on W1, it managed to gain, get close to the highs of the previous week and close above the 50-week MA (1.3250). All of this adds credibility to the uptrend which has been in place since the middle of July. However, the fact that the greenback failed to renew highs is worrisome. The decline below 1.3285 (Thursday’s low) will make the pair return to 1.3250 and 1.3225 (uptrend support line). If that support fails, we’ll be looking at 1.3180 and 1.3145.
To gain the ability to head higher, towards 1.3445, USD/CAD needs to overcome 1.3355 (61.8% Fibo of the May-July decline).
Elizabeth Belugina
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EUR/JPY: on the way up
EUR/JPY is likely to move further within an uptrend. Look for the break out above 121.55!
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