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 reversed from resistance zone
2019-11-11 • Updated
- GBP/CAD reversed from resistance zone
- Next sell target - 1.6520
GBP/CAD recently reversed down from the resistance zone lying at the intersection of the resistance level 1.7000 and the lower trendline of the daily up channel from January (acting as resistance now after it was broken recently). The downward reversal from this resistance zone accelerated the active minor C-wave of the active intermediate ABC correction (2) from the start of May. GBP/CAD is expected to fall to the next sell target at the next support level 1.6520 (low of the previous waves (a) and 2 and the target price for the completion of the active wave (2)).
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USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
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.
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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...