USD/JPY: upside is limited
On the H1, USD/JPY is recovering after the selloff that took place during the previous three days.
USD/CAD may be capable of more
Information is not investment advice
USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick. On the daily chart it managed to form a higher low and overcome important resistance levels of the 100- and 50-day MAs (1.3195 and 1.3205). These lines will from now on act as support for the price. Yesterday the pair closed above 61.8% Fibo retracement of the October decline at 1.3228. As a result, there’s scope for the exchange rate to go up to the 1.3275/80 area (200-day MA, 78.6% Fibo). On H4, indicators show divergence, so the pair may go lower before heading to the upside targets. Look for buy signals between 1.3230 and 1.3205. The decline below 1.3190 will open the way down to 1.3160.
Elizabeth Belugina
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USD/JPY: upside is limited
On the H1, USD/JPY is recovering after the selloff that took place during the previous three days.
EUR/USD reminded about a slingshot strategy
The slingshot strategy is a good way to trade EUR/USD on the ECB meetings. Learn more!
USD/CAD is capable of more
USD/CAD made big moves during the Bank of Canada’s meeting yesterday. Still, the rally may not be over yet.
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