Daily Trading Analysis – The USD/CAD rose to 1.2100 early in the North American session but could not break through the daily range.
Our Analysis:
Provided that the currency pair is traded below 1.2275, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 1.2078
Take Profit 1: 1.1980
Take Profit 2: 1.1830
Alternative scenario:
In case of breakout of the level 1.2275, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 1.2275
Take Profit 1: 1.2400
Take Profit 2: 1.2500
NZDUSD Analysis
The NZD/USD continues to fall to a new daily low at 0.7200.
Our Analysis:
While the price is below 0.7412, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7207
- Take Profit 1: 0.6931
- Take Profit 2: 0.6796
Alternative scenario:
If the level 0.7412 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7412
- Take Profit 1: 0.7639
- Take Profit 2: 0.7775
Source: PAXFOREX Broker
Daily Trading Analysis – EUR/USD Intraday: bullish bias above 1.2160.
Pivot:
1.2160
Our preference:
Long positions above 1.2160 with targets at 1.2200 & 1.2215 in extension.
Alternative scenario:
Below 1.2160 look for further downside with 1.2145 & 1.2130 as targets.
Comment:
The RSI is mixed to bullish.
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