USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.
USD/CAD looks vulnerable
Information is not investment advice
USD/CAD reversed down from 1.2865 last week and formed a candlestick with a long upper wick on the W1. On the D1, it was limited by the declining 50-day MA and formed a big candlestick yesterday that signals that sellers have the power to pull the prices lower. The decline below the support at 1.2680 will open the way down to 1.2650. If the US dollar recovers above 1.2705, it will be able to rise to 1.2735 where sellers will likely reappear.
Trade ideas for USD/CAD
SELL 1.2680; TP 1.2650; SL 1.2690
SELL 1.2740; TP 1.2680; SL 1.2760
The 200-period MA just above 1.3650 supported GBP/USD. The pair formed a higher low on the H1.
Stocks, oil, and risk currencies gained on Tuesday as the formal go-ahead for US President-elect Joe Biden to begin his transition burnished a November already boosted by Covid-19 vaccines.
Ichimoku Kinko Hyo CHF/JPY: The pair is trading above the cloud…
Ichimoku Kinko Hyo AUD/JPY: The pair is trading above the cloud…
While the oil cartel member country leaders meet to decide on the supply increase quantity, WTI oil price moved up a bit. What are we in for?