The slingshot strategy is a good way to trade EUR/USD on the ECB meetings. Learn more!
USD/CAD awaits NFP
Information is not investment advice
USD/CAD is consolidating ahead of the news. The release of the US and Canadian data at 15:30 MT time will bring substantial volatility to the pair. Although the longer-term bias of the pair is bullish, it’s not really strong, so it can't be a major argument. Yet, the daily chart suggests that there are more support levels at the bottom of the current consolidation pattern than resistance levels at its top. As a result, we prefer buy trades.
There are clear support and resistance levels on the H4 chart formed by the previous highs and lows, and trading will be done on the basis of these levels.
As soon as the pair rises above 1.3310, we can anticipate a further upward movement towards 1.3350. The next important level to break is 1.3375.
Things in the economic world seem to be getting better. Is it better for the USD as well?
The volatility of the oil price these days questions the previously taken uptrend. Or does it not?
AUD/USD broke through the most important daily moving averages, slipped below the support at 0.6830.
This time, the coronavirus has affected not only China but the whole market sentiment. Let’s figure out why this has happened.
On the H1, USD/JPY is recovering after the selloff that took place during the previous three days.