Pair pierced above resistance and trapped buyers when price dropped below 1.09050. I am watching to re-short with stop above 1.09051 and previous swing high at 1.09255. Target is support at 1.08765 and then I think that we will see lows at 1.08133, but it can take some type. For more detail analysis chek my previous idea on USD/CAD
Keep an eye on EUR/USD after last week's decision by the European central Bank to wait at least another month before reacting to rising deflation risk. It spiked higher on Friday but later dropped down below break out area at 1.39500. Dropped below short term moving averages means that sellers took control and it is something to take notice for active buyers. ...
EURUSD is rising in Draghi speach, there were couple of points to make your adjustments. I was trading it as breakout failure , but when friday's job report came out with V shape reversal, pair regained some levels of support and consolidated in front of resistance. It broke up on weak US dollar and was flagging for one day, controlled pullback. Today, it reached...
Daily chart still in major uptrend but it is more range bound market, so it makes sence to trade tactically both sides. After it failed above resistance zone pair established downtrend. Broke below previous low of the day means that sellers are interested in lower prices. Significant support zone 1.38509-550 where i can take some off from my short position,...