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...
USD/CHF is testing lows
2019-11-11 • Updated
Trade idea
SELL 0.9675; TP1 0.9650; TP2 0.9600; SL 0.9690
USD/CHF fell to the lowest levels in almost a year. The pair slid below the June low at 0.9695. The weekly pivot is at 0.9752 and it implies that bears are in control of the market. The 100-day MA is about to cross the 200-day MA to the downside. Yesterday USD/CHF closed below the 50% retracement of the 2018-2019 advance at 0.9710. There’s scope for further declines within the downtrend channel. The downside targets include 0.9650 and 0.9590.
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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...