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EUR/USD: general analysis 16 August 2019, 14:11

EUR/USD: general analysis 16 August 2019, 14:11 Scenario Timeframe Weekly Recommendation SELL Entry Point 1.1076 Tak...

Jun 12, 2019

USD/CAD: technical analysis 12 June 2019, 10:30


Scenario
Timeframe Weekly
Recommendation SELL LIMIT
Entry Point 1.3355
Take Profit 1.3260, 1.3235, 1.3180
Stop Loss 1.3410
Key Levels 1.3180, 1.3235, 1.3260, 1.3355, 1.3410, 1.3520
Alternative scenario
Recommendation BUY STOP
Entry Point 1.3410
Take Profit 1.3520
Stop Loss 1.3355
Key Levels 1.3180, 1.3235, 1.3260, 1.3355, 1.3410, 1.3520
USD/CAD, H4
On the 4-hour chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is growing, having left the oversold zone. The Composite is approaching its strong resistance.

USD/CAD, D1
On the daily chart, the pair is trading on the lower line of the Bollinger Bands. The price remains on the level with the SMA200 and below the EMA14, EMA65 and EMA130 that start turning down. The RSI is testing the border of the oversold zone. The Composite is approaching its strong support.

Key levels
Support levels: 1.3260 (local lows), 1.3235 (local lows), 1.3180 (August 2018 highs).
Resistance levels: 1.3355 (local highs), 1.3410 (local highs), 1.3520 (April highs).
Trading tips
The price has broken down its ascending trendline. After a short-term correction, the fall is likely to continue.
Pending sell orders can be placed at the level of 1.3355 with targets at 1.3260, 1.3235, 1.3180 and stop-loss at 1.3410. Validity – 3-5 days.
Long positions can be opened from the level of 1.3410 with the target at 1.3520 and stop-loss at 1.3355. Validity – 3-5 days.

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