We have outlooked several promising Forex pairs and the result can surprise you!
USD/CAD may get to another support
Information is not investment advice
Last week USD/CAD was rejected on the upside: the pair failed to settle above 1.3350. Instead, it turned down breaking below the 50-week MA and all the 200-, 100- and 50-day Moving Averages on the D1. As a result, the pair ended the week below the range within which it was consolidating in August. The CAD is supported by the stabilization in oil prices and can appreciate more pulling the pair further down. The decline below the 61.8% Fibo level of the July-September advance at 1.3155 will lead USD/CAD down to 1.3120/00. Notice, however, that the level of 1.3120 represents important support: here’s the 200-week MA and the 50-month MA. On the upside, the return above 1.3190 is needed to open the way to 1.3240.
Similar
4H Chart Daily Chart We sent out a signal yesterday to long EUR/USD between 1…
4H Chart Daily Chart EURUSD declined back yesterday after trying to test its 1…
Popular
eurusd-is-falling-what-to-expect-from-the-future-price-movement
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus