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/ZAR: a potential top
2019-11-11 • Updated
Trade idea
SELL 15.10; TP1 15.05; TP2 15.00; SL 15.12
Yesterday USD/ZAR formed yesterday a bearish engulfing pattern on the D1. The pair also formed a lower high on H1 and H4 and fell below the short-term support line at 15.15 - this level is now acting as resistance. As long as the price stays below it, it’s vulnerable for a decline to 15.05 and 15.00. As a result, small bearish bets seem like an interesting option.
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Canadian retail sales showed a slight rebound in February, rising by 0.1% after a 0.3% drop in January. However, this failed to fully offset the steeper decline earlier in the year, suggesting a weakening momentum in consumer spending. The increase in February was driven by gains in sectors such as sporting goods, hobby retailers, and building materials. Despite the...
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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...