Trading Analysis of USD/CAD – The USD/CAD traded above 1.2300 during the first half of the European session, though there were not any serious purchases.
Our Analysis:
Provided that the currency pair is traded above 1.2180, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 1.2299
Take Profit 1: 1.2480
Take Profit 2: 1.2630
Alternative scenario:
In case of breakdown of the level 1.2180, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 1.2180
Take Profit 1: 1.2020
Take Profit 2: 1.1900
Trading Analysis of NZD/USD
RBNZ: The policy is normalizing in the medium term.
Our Analysis:
While the price is below 0.7160, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 0.7063
Take Profit 1: 0.6920
Take Profit 2: 0.6800
Alternative scenario:
If the level 0.7160 is broken-out, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 0.7161
Take Profit 1: 0.7240
Take Profit 2: 0.7315
EUR/USD Intraday: key resistance at 1.1930.
Pivot:
1.1930
Our preference:
Short positions below 1.1930 with targets at 1.1900 & 1.1885 in extension.
Alternative scenario:
Above 1.1930 look for further upside with 1.1945 & 1.1960 as targets.
Comment:
As long as 1.1930 is resistance, look for choppy price action with a bearish bias.
GBP/USD Intraday: under pressure.
Pivot:
1.3895
Our preference:
Short positions below 1.3895 with targets at 1.3845 & 1.3825 in extension.
Alternative scenario:
Above 1.3895 look for further upside with 1.3915 & 1.3940 as targets.
Comment:
As long as 1.3895 is resistance, look for choppy price action with a bearish bias.
Gold Intraday: key resistance at 1786.00.
Pivot:
1786.00
Our preference:
Short positions below 1786.00 with targets at 1771.00 & 1760.00 in extension.
Alternative scenario:
Above 1786.00 look for further upside with 1790.00 & 1795.00 as targets.
Comment:
As long as the resistance at 1786.00 is not surpassed, the risk of the break below 1771.00 remains high.
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