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Forex, Markets, Macro Economic News Discussion.
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USD/CAD is currently retracing after falling all the way to the support at 1.2650. The retracement is likely only temporary, so far there are no signals for a reversal.
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The EUR/USD went as high as 1.14 in today's trading hours only to fall and return its gains. The pari is currently trading at 1.1290 as the US dollar is taking control. First bear target 1.1244.
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USD/CAD is still testing the support at 1.2650. It has formed a spinning top candlestick on the daily time frame, but at this point I doubt that is reason to open longs.
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EUR/USD is trading relatively unchanged from yesterday's level due to low volume and lack of fresh news. Current movement indicated that the Euro bulls are ready to take it to first base at 1.15. Whether or not this is gonna happen depends on who will dominate over the pair which suggests that we might get into consolidation if there are no fundamentals to stir the market.
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Originally posted by ales View PostDouble bottom on 4 hours chart? Only if we manage to break above yesterdays highs -> 1.2990-1.3000 ...
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Kiwi (NZDUSD) might be moving into new trading territory if we manage to close above 6950 today. Could put 7200 at least into the play...
Similar for DAX - currently trading decisively thru the 10100 resistence which has defined this years tops for the European index. We might be heading towards 10750 if we are to stay above 10000-10100 support zone.
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Originally posted by Eliza Abrams View PostUSD/CAD might be forming a double bottom on the 4-hour time frame, but it's still too early to tell, I think. If it is indeed a double bottom the pair will start moving to the upside towards the resistance at 1.2840 again.
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USD/CAD might be forming a double bottom on the 4-hour time frame, but it's still too early to tell, I think. If it is indeed a double bottom the pair will start moving to the upside towards the resistance at 1.2840 again.
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EUR/USD made a high of 1.1344 today due to major support at 1.1260. Bears were not able to push price below support and bulls successfully brought the pair back into the ascending trading channel. Major bull target 1.1530.
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The EUR/USD is trading higher today after technicals influenced the market participants. The pair reached 1.1274 in today's session and is now trading slightly above 1.13. Currently, price is resting on support level and bulls may try to push prices above 1.14.
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USD/CAD is testing the support at 1.2835. There is a hammer and an inverted hammer candlesticks at that level, so it's possible the pair will bounce off that level, but we should keep in mind that the trend is still very bearish.
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The EUR/USD is trading relatively unchanged since yesterday's close as it seems to have been caught in a range between 1.1280 and 1.1240. A move to the upside might be expected as price is resting on a short-term support zone.
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USD/JPY reached the resistance at 109.70, formed a doji candlestick and started falling. It's testing the support at 109.20 at the moment, if it breaks below that level it will likely reach 108.20 again.
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The EUR/USD reached 1.1233 in today's trading session and is currently trading at 1.1258. 1.1260 is support now and price might attempt to climb above this level and possibly close the week above 1.13.
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USD/CAD found some support at 1.2750 and is currently retracing. It's testing the resistance at 1.2860 at the moment and if it breaks above it it might reach 1.2900.
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