Uncertainty in the OIL market is bringing CAD to the downside giving more power to the USD , we are waiting for the opening bell to have a better understanding of where this currency pair will go. In terms of technical analysis we have seen a huge drop in the last month touching 50% fib level we believe that USD strength will be around for a while until everything...
We finally see a drop lower which could bring ti currency pair down to 66.500 level which is the next low. Still uncertainty in place so YEN together with USD can be the right candidate for potential buy with weak currencies such as EUR AUD NZD. Trade safe as volatility is still in place.
We have seen just yesterday the break of the 50% fibonacci level which did retrace just today, we finally triggered this trade with tight Stop Loss, our first target is around 1.37500 (61.8% fibonacci level) be aware of WTI OIL which ha correlation of CAD. If WTI OIL goes to the upside will probably be another reason to add in a short position USDCAD.
We have been looking at this pair for this week. Our sweet spot was the break of the resistance level and 50% fibonaccci as extra confirmation we use RSI which shows just above 50 level on the daily chat. So we will probably see a long to 69.500 (next resistance level)
After the opening with a small pop higher in indices drived JPY lower that means risk seems to be away for now, a lot of data will come mid week so we are planning to trigger GBPJPY on the break of 134.600 resistance level with first target around 137.000 area (61.8% fibonacci retracement level ) GBP is probably the most undervalued currency at the moment so will...
We are looking at this pair for today, USD strength seems to be going to an end, technically we have a small wedge pattern where could bring this pair around 1.27000 to 1.30000 levels, will mostly depend how the markets will react this afternoon with US opening. So be aware of a lot of volatility will take place.
We are seeing a strong sell off for this currency pair, just broke 50% fibonacci level we are waiting for the next target which is 61.8% fib level, for further downside move. Be aware a lot of volatility will take place this week. So we recommend to keep you positions size to minimum.
We are finally waiting 100.00 handle to be break (38.6% fibonacci) to have a better view of where USD is heading in the next few weeks. We are looking also.a USDCAD and USDJPY for a potential short position. FED Powell due to speak at 11am so be aware of high volatility.
We are seeing a very good opportunity for a short position, we will trigger the trade probably today, as extra confirmation we are waiting the pair reaching 109.340 level too see then how this pair will react. Be aware of Jobless claim today, so volatility will be very high. Our target will be around 108.000 level.
