USD/CAD may be capable of more
USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.
Trading on the risk sentiment
Information is not investment advice
As a rule, when the price consolidates in a horizontal corridor, it’s possible to trade on the potential break of this range.
CAD/JPY is sensitive to the market sentiment: if risk appetite improves, the pair will rise, while if traders become risk-averse, the pair will fall. The pair has been consolidating between 83.85 and 83.20 for the second week in a row as the market keeps waiting for the news about the US-China trade deal and the Brexit delay. A break of this range will make the pair move by 60 pips or more. Notice that there are more support levels of the downside than resistance levels on the upside, so a break to the upside looks easier for the price.
Elizabeth Belugina
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USD/CAD may be capable of more
USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.
NZD/USD ahead of the RBNZ meeting
A bearish “engulfing” pattern was formed on the W1 chart of NZD/USD around the 38.2% Fibonacci retracement level of the July-October decline.
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