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.
USD/CAD: sell in the downtrend
Information is not investment advice
USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125. The decline below this level will confirm a top and open the way down to 1.3100/1.3085. The outlook for buyers will improve only if USD/CAD manages to rise above 1.3160.
Trade idea for USD/CAD
SELL 1.3120; TP 1.3100; SL 1.3130
EUR/USD fell below 1.1850 after reaching 1.1920 on Monday. The pair consolidated after the initial bearish move.
EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
Here's the technical analysis of USD/JPY, AUD/JPY, NZD/JPY, and silver!
Oil has surged to March highs amid optimistic vaccine news and the peaceful presidential transition. Read to know forecasts!
Biden’s transition encouraged stock bulls. Dow Jones jumped to 30 000. Will it keep rallying?