USD/CAD is falling again after the big drop caused by the NFP last week.
I think next target is likely 1.2880 - 1.2870 and it will likely
continue falling below those levels.
Not only did USD/CAD reach 1.2870 but it continued falling, breaking
below 1.2800. It's testing 1.2770 at the moment and if it breaks below
that level it will reach 1.2700.
I am waiting to see whether the pair will break above 1.2770 so I can
open a new long position, but I think this might be just a retracement
before the move to the downside continues.
GBPUSD pair short
Eurusd/gbpusd
Eur/usd
USD/CAD is clearly forming a flag after the big drop, so my suspicions from yesterday are confirmed, I think. Once the flag is over, the move to the downside will continue.
Bullish on this pair.
The flag continues forming today. GBP/USD formed an inverted hammer on
the four-hour time frame above the support at 1.2760 and started rising
again. I think next target is 1.2810 - 1.2815.
Eurusd/gbpusd
GBPUSD pair short
GBP/USD forecast
USD/CAD finally reached the resistance at 1.2870, which is (EMA)89 on
the four hour time frame. The pair could bounce off of it, but if it
breaks above it next target is at 1.2930, which is the middle line of
the Bollinger Bands indicator on the daily time frame.
Eurusd/gbpusd
GBP/USD forecast
USD/CAD, good buy today?
The USDCAD may find some resistance at the 1.2900 level, but the pair has not taken a clear direction in the middle term. The USDCAD may go into a range.
The pair formed a shooting star candlestick and a spinning top
candlestick underneath the resistance at 1.2870 on the four-hour time
frame and started falling. I think next target is 1.2800.
Despite the short retracement USD/CAD is still very bullish. The pair broke above 1.2900 and I think next target is 1.3000.
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