Trading Analysis of USD/CAD – The USD/CAD gained momentum amid a general strengthening of the US dollar across the whole market ahead of the FOMC minutes release and reached the highest values since April around 1.2518.
Our Analysis:
- Provided that the currency pair is traded above 1.2250, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2501
- Take Profit 1: 1.2650
- Take Profit 2: 1.2740
Alternative scenario:
- In case of breakdown of the level 1.2250, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2250
- Take Profit 1: 1.2130
- Take Profit 2: 1.2020
Trading Analysis of NZD/USD -FOMC to begin tapering in December or even November – Goldman Sachs.
Our Analysis:
- While the price is above 0.6890, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7086
- Take Profit 1: 0.7343
- Take Profit 2: 0.7463
Alternative scenario:
- If the level 0.6890 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6890
- Take Profit 1: 0.6692
- Take Profit 2: 0.6573
Source: PAXFOREX Broker
EUR/USD Intraday: key resistance at 1.1810.
Pivot:1.1810
Our preference:Short positions below 1.1810 with targets at 1.1780 & 1.1760 in extension.
Alternative scenario:Above 1.1810 look for further upside with 1.1830 & 1.1850 as targets.
Comment:As long as the resistance at 1.1810 is not surpassed, the risk of the break below 1.1780 remains high.
GBP/USD Intraday: under pressure.
Pivot:1.3810
Our preference:Short positions below 1.3810 with targets at 1.3755 & 1.3735 in extension.
Alternative scenario:Above 1.3810 look for further upside with 1.3835 & 1.3860 as targets.
Comment:As long as the resistance at 1.3810 is not surpassed, the risk of the break below 1.3755 remains high.
Categories :
Tags : Pivot Points USD/CAD
