Technical Analysis of USDCAD

Technical Analysis of USDCAD USD/CAD: anxiety over the coronavirus is worsening investor sentiment.Our Analysis:Provided that the currency pair is traded above 1.2420, follow the recommendations below:

Time frame: D1
Recommendation: long position
Entry point: 1.2695
Take Profit 1: 1.2810
Take Profit 2: 1.2950

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

Technical Analysis of USDCAD Trading Analysis of NZD/USD The NZD/USD pair during the Asian session on Wednesday updated its lowest price level since November 2020, testing support at 0.69.

Our Analysis:While the price is below 0.7085, follow the recommendations below:

Time frame: D1
Recommendation: short position
Entry point: 0.6850
Take Profit 1: 0.6800
Take Profit 2: 0.6572

Alternative scenario:If the level 0.7085 is broken-out, follow the recommendations below:

Time frame: D1
Recommendation: long position
Entry point: 0.7085
Take Profit 1: 0.7160
Take Profit 2: 0.7240

Source: PAXFOREX Broker

EUR/USD Intraday: under pressure.

Pivot:1.1705

Our preference:Short positions below 1.1705 with targets at 1.1650 & 1.1630 in extension.

Alternative scenario:Above 1.1705 look for further upside with 1.1725 & 1.1745 as targets.

Comment:The RSI shows downside momentum.

Technical Analysis of USDCAD GBP/USD Intraday: under pressure.

Pivot:1.3750

Our preference:Short positions below 1.3750 with targets at 1.3700 & 1.3680 in extension.

Alternative scenario:Above 1.3750 look for further upside with 1.3770 & 1.3795 as targets.

Comment:The RSI shows downside momentum.

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