Trade ideas for March 28 - April 1
Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
GBP/CAD hovering inside a buy area
2019-11-11 • Updated
The pair is consolidating the price action around the 200 SMA at H1 chart across the board and it’s facing a strong demand zone that could help to push it higher towards new highs. If the Fibonacci level of 65% at 1.7766 stays intact, GBP/CAD could rally to test the Fibonacci area of -23.6% at 1.8149. To the downside, if it does a breakout of last Friday’s lows, we can expect a leg lower towards the 1.7614 level.
RSI indicator stays in the positive territory and it’s close to the overbought zone.
Similar
USD/CAD Short Trade
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
GBP/USD Near Supply Zone
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Latest news
USD: Powell Speaks on Cutting Interest Rates
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 ...
WTT: Currency Pairs To Trade In April
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.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
