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EUR/USD: general review 14 June 2019, 11:05

EUR/USD: general review 14 June 2019, 11:05 Scenario Timeframe Intraday Recommendation SELL STOP Entry Point 1.1265 ...

Apr 15, 2019

USD/CAD: technical analysis 15 April 2019, 12:16


Scenario
Timeframe Weekly
Recommendation SELL STOP
Entry Point 1.3285
Take Profit 1.3170, 1.3120
Stop Loss 1.3330
Key Levels 1.3120, 1.3170, 1.3285, 1.3400, 1.3450, 1.3570
Alternative scenario
Recommendation BUY STOP
Entry Point 1.3450
Take Profit 1.3570
Stop Loss 1.3400
Key Levels 1.3120, 1.3170, 1.3285, 1.3400, 1.3450, 1.3570
USD/CAD, H4
On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains just below its moving averages that start turning down. The RSI keeps testing from below its longer MA. The Composite is about to test its longer MA as well.

USD/CAD, D1
On the daily chart, the pair is trading in the lower Bollinger band. The price remains slightly above the EMA65, EMA130 and SMA200 that are directed up. The RSI is falling, having failed its longer MA. The Composite is testing from below its longer MA.

Key levels
Support levels: 1.3285 (local lows), 1.3170 (local lows), 1.3120 (March 2018 highs).
Resistance levels: 1.3400 (local highs), 1.3450 (local highs), 1.3570 (local highs).
Trading tips
The price keeps testing quite strong support near 1.3285. Its breakdown would lead to a fall continuation.
Short positions can be opened from the level of 1.3285 with targets at 1.3170, 1.3120 and stop-loss at 1.3330. Validity – 3-5 days.
Long positions can be opened from the level of 1.3450 with the target at 1.3570 and stop-loss at 1.3400. Validity – 3-5 days.

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