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...
USD/JPY: bulls don’t want to lose their control over the pair
2019-11-11 • Updated
Recommendations: BUY 113,95 SL 113,4 TP1 115,5 TP2 116,4 TP3 117,55.
On the USD/JPY daily chart, Bulls managed to return the quotes to the important level of 113.3 (50% from the near-term downward wave). If buyers manage to push the quotes higher, there will be a restoration of the uptrend and realization of the Butterfly pattern.
On the USD/JPY hourly chart, Bulls managed to keep the quotes at 112.9 and now they are trying to restore the uptrend. To do this, they need to test the resistance at 113.95 and activate AB=CD pattern. Its target 161.8% is located near 115.5.
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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...