USD/CAD may be capable of more
USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.
USD/ZAR: correction has started
Information is not investment advice
It looks like USD/ZAR has overdone its increase in the short-term. The currency pair formed a bearish candlestick with a long upper wick on D1. It tested levels beyond the third weekly pivot resistance level but failed to stay there. As a result, we see a pullback to the downside. The first target for the decline is at 14.5215. The buying interest may re-emerge in this area.
Notice that South African President Cyril Ramaphosa announced the composition of his cabinet. This helped to calm down the nerves of investors worried because of the political delay. Notice that concerns about the US-China trade war will still hurt the market’s sentiment, so be reasonable with your sell targets.
Elizabeth Belugina
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USD/CAD may be capable of more
USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.
NZD/USD ahead of the RBNZ meeting
A bearish “engulfing” pattern was formed on the W1 chart of NZD/USD around the 38.2% Fibonacci retracement level of the July-October decline.
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