Daily News Trading Analysis of USD/CAD The USD/CAD is fluctuating below the 200-hour moving average.Provided that the currency pair is traded above 1.2420, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2532
- Take Profit 1: 1.2670
- Take Profit 2: 1.2810
Alternative scenario: In case of breakdown of the level 1.2420, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2420
- Take Profit 1: 1.2300
- Take Profit 2: 1.2180
Daily News Trading Analysis of NZD/USD Fitch Ratings noted that they expect the RBNZ to raise the official money rate (OCR) at next week’s monetary policy meeting.While the price is above 0.6829, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6980
- Take Profit 1: 0.7203
- Take Profit 2: 0.7307
Alternative scenario:If the level 0.6829 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6829
- Take Profit 1: 0.6655
- Take Profit 2: 0.6552
Source:PAXFOREX Broker
EUR/USD Intraday: the upside prevails.
Pivot:1.1725
Our preference:Long positions above 1.1725 with targets at 1.1750 & 1.1760 in extension.
Alternative scenario:Below 1.1725 look for further downside with 1.1715 & 1.1705 as targets.
Comment:The RSI shows upside momentum.
GBP/USD Intraday: key resistance at 1.3830.
Pivot:1.3830
Our preference:Short positions below 1.3830 with targets at 1.3795 & 1.3780 in extension.
Alternative scenario:Above 1.3830 look for further upside with 1.3845 & 1.3865 as targets.
Comment:As long as the resistance at 1.3830 is not surpassed, the risk of the break below 1.3795 remains high.
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