A few things here Broken support line MACD has just crossed and entered the sell zone, shown by arrow RSI has a broken pattern as well, indicated by the arrow To set stop loss level, it is clear there is a strong resistance at around 1.075, as it bounced back down twice from this price, so 1.08 is a safe level As for the Reward, Fib and previous structures...
For the past month, price has been pushed down slowly staying near support for most of the time. Also, the 20ma has been acting as a dynamic resistance, and price has seen more resistance from a descending trend line. Price has just broken and close below support (Double Blue Line) Price has also closed below the 50ma, which has acted as dynamic...
usd cad support and trendline please like Yatirim tavsiyesi degildir.
USDCAD has a very peculiar configuration this week. The support at 1.31220 was violated on Thursday, but the Bulls came into the game to bring it up above it again. Nevertheless, another bearish bar closed just below it on Friday. Macro and Cyclicity are expecting a signal to go LONG. Interesting to watch and see whether this takes a clear position either LONG...
USDCHF might open interesting opportunities if the level around 1.00641 gets broken. There are three different supports to look at downwards: 0.99421, 0.98382, 0.97390. While breaking the psychological level of parity might be not probable, the Risk-Reward-Ratio in this case looks really appealing. A factor of risk is the volatility shown in the last month or so...
USDJPY has closed the week down a neat trendline. A bullish bar (inverted hammer) has appeared on the H4 timeframe and this is reflected also on the Daily timeframe (in the screenshot). The trend seems clear and is still trading under the EMA, even if the macro factors driving the USD might probably come into the game mid week. If we trade what we see, we can put...