Trading Analysis of USD/CAD

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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.

Trading Analysis

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