2019-11-11 • Updated
Recommendation:
BUY 0.8825 SL 0.8770 TP1 0.8925 TP2 0.8940 TP3 0.9015
BUY 0.8790 SL 0.8755 TP1 0.8890 TP2 0.8940 TP3 0.9015
On the daily chart of EUR/GBP, bulls are ready to get the pair out of the 0.8700-0.8825 consolidation range (a “ledge”) within the ‘Spike and ledge” pattern on the basis of 1-2-3. If the attempt to get above resistance at 0.8825 succeeds, the risks of the realization of a “Shark” pattern with a target at 88.6% will increase.
On H1, a retest of the upper border of the descending channel or a break above resistance at 0.8825 will create grounds for the formation of a “Shark” pattern. Its 88.6% target is at 0.8940.
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...
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...
Discover why FBS reduced the GBPCAD spread and what to do next!
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
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...
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