Analysis of USD/CAD-CIBC expects the Bank of Canada to wait for the Fed to make the first move.
Our Analysis:
Provided that the currency pair is traded above 1.2180, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 1.2330
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 seeks to “turn the tide” with risk-off in the Pacific region – Reuters.
Our Analysis:
While the price is below 0.7160, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 0.7025
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: 0.7160
Take Profit 1: 0.7240
Take Profit 2: 0.7315
Source: PAXFOREX Broker
EUR/USD Intraday: consolidation.
Pivot:
1.1865
Our preference:
Short positions below 1.1865 with targets at 1.1850 & 1.1840 in extension.
Alternative scenario:
Above 1.1865 look for further upside with 1.1885 & 1.1900 as targets.
Comment:
As long as 1.1865 is resistance, look for choppy price action with a bearish bias.
GBP/USD Intraday: bullish bias above 1.3800.
Pivot:
1.3800
Our preference:
Long positions above 1.3800 with targets at 1.3845 & 1.3870 in extension.
Alternative scenario:
Below 1.3800 look for further downside with 1.3775 & 1.3750 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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