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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...

Aug 13, 2019

USD/CAD: technical analysis 13 August 2019, 11:51


Scenario
Timeframe Weekly
Recommendation BUY STOP
Entry Point 1.3275
Take Profit 1.3345, 1.3380
Stop Loss 1.3240
Key Levels 1.3100, 1.3140, 1.3190, 1.3275, 1.3345, 1.3380
Alternative scenario
Recommendation SELL STOP
Entry Point 1.3190
Take Profit 1.3140, 1.3100
Stop Loss 1.3220
Key Levels 1.3100, 1.3140, 1.3190, 1.3275, 1.3345, 1.3380
USD/CAD, H4
On the 4-hour chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is testing from below its longer MA. The Composite is growing, having broken out its longer MA.

USD/CAD, D1
On the daily chart, the pair is trading in the upper Bollinger band. The price remains on the level with its moving averages that start turning up. The RSI is about to retest the border of the overbought zone. The Composite is testing from above its longer MA, having formed a Bearish divergence with the price.

Key levels
Support levels: 1.3190 (local lows), 1.3140 (local lows), 1.3100 (local lows).
Resistance levels: 1.3275 (local highs), 1.3345 (local highs), 1.3380 (June 2018 highs).
Trading tips
The growth could continue.
Long positions can be opened from the level of 1.3275 with targets at 1.3345, 1.3380 and stop-loss at 1.3240. Validity – 3-5 days.
Short positions can be opened from the level of 1.3190 with targets at 1.3140, 1.3100 and stop-loss at 1.3220. Validity – 3-5 days.

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