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/CHF: don’t trust the euro
2019-12-10 • Updated
Trade idea
SELL 1 0940; TP1 1.0921; TP2 1.0900; SL 1.0950
The upside of EUR/CHF has so far been limited by 1.0975 (the 50-day MA and the 50% Fibonacci retracement of the December decline). On Monday, the pair slipped below 1.0940 (the 100-day MA) resuming the decline that started last week. On the H4, moving averages got in position that is typical for a downtrend. The retest of the resistance in the 1.0940/46 area may thus represent an opportunity to enter a short position targeting the lows in the 1.0920 area and the support line just below 1.0900.
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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...
Following yesterday's dovish Fed announcement, market expectations for a full 25 basis point hike from the Fed's yearly outlook were scaled back, causing the dollar to weaken. Consequently, EUR/USD saw gains as the dollar depreciated, testing resistance levels around 1.0942 and 1.0960, which correspond to Fibonacci retracements of previous...
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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...