During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
EUR/JPY: bulls make a trap
2019-11-11 • Updated
Recommendation:
BUY 130.1
SL 129.55
TP1 131.1 TP2 132.1 TP3 133.45
On the daily chart of EUR/JPY, the pair keeps going up to 127.2% and 88.6% targets of “Perfect butterfly” and “Shark” patterns. To encourage the rally, the pair needs to break the resistance at 132.6 (61.8% from the last medium-term downward wave).
On H1, there is the “Spike and reversal with acceleration” pattern. Bears try to counterattack and implement the “Shark” pattern. The rebound from the support near the 88.6% target will be a signal to buy.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...