Theme images by MichaelJay. Powered by Blogger.

GBP/USD: general analysis 26 February 2020, 13:50

GBP/USD: general analysis 26 February 2020, 13:50 Scenario Timeframe Intraday Recommendation BUY Entry Point 1.2940 ...

Feb 14, 2020

USD/CAD: instrument consolidates 14 February 2020, 09:06


Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 1.3275
Take Profit 1.3328, 1.3340
Stop Loss 1.3234
Key Levels 1.3153, 1.3180, 1.3204, 1.3234, 1.3270, 1.3302, 1.3328
Alternative scenario
Recommendation SELL STOP
Entry Point 1.3230
Take Profit 1.3180, 1.3165
Stop Loss 1.3270
Key Levels 1.3153, 1.3180, 1.3204, 1.3234, 1.3270, 1.3302, 1.3328
Current trend
Today, during the Asian session, the USD/CAD pair is falling within the correction, returning to the “bearish” dynamics after yesterday’s slight increase. Now, the instrument has lost about 0.05%, testing the level of 1.3260 for a breakdown. Investors are focusing on US consumer inflation statistics released on Thursday. In general, the data fully met the expectations of analysts and indicated a moderate increase in consumer prices at the beginning of the year. In annual terms, the price index accelerated from +2.3% YoY to +2.5%, slightly ahead of its forecasts of +2.4% YoY.
On Friday, traders expect the publication of January data from the United States on the dynamics of industrial production and retail sales. Production is expected to maintain negative dynamics at –0.2% MoM, while sales may grow by 0.3% MoM.
Support and resistance
On the daily chart, Bollinger bands are growing steadily. The price range is narrowing, reflecting the emergence of ambiguous trading dynamics in the short term. The MACD indicator goes down, maintaining a relatively strong sell signal (the histogram is below the signal line). Stochastic, approaching the level of 20, reversed horizontally, indicating the correctional growth of the US currency on Thursday.
It is better to wait until the signals from technical indicators are clarified before opening new positions and keep some of the current sell positions in the short term.
Resistance levels: 1.3270, 1.3302, 1.3328.
Support levels: 1.3234, 1.3204, 1.3180, 1.3153.
Trading tips
Long positions may be opened after the breakout of 1.3270 with the targets at 1.3328–1.3340. Stop loss – 1.3234.
Short positions may be opened after the breakdown of 1.3234 with the targets at 1.3180–1.3165. Stop loss – 1.3270.
Implementation period: 2–3 days.


Trading tips
Long positions may be opened after the breakout of 1.3270 with the targets at 1.3328–1.3340. Stop loss – 1.3234.
Short positions may be opened after the breakdown of 1.3234 with the targets at 1.3180–1.3165. Stop loss – 1.3270.
Implementation period: 2–3 days.

No comments:
Write comments


If you are interested or have any questions - Contact us!