The EURUSD bulls finally did it. After several failed attempts to breach the 1.0635 area, Friday’s late session surge put the single currency well above the mark.
Yes, there was some profit taking into the close, but that isn’t abnormal especially given Friday’s 130 pip rally. At the end of the day, the pair still managed a close above the 1.0635 handle, which...
However, with the 115.10 handle still intact, I decided to remain on the sideline. I also didn’t want to enter in front of yesterday's non-farm payroll report.
The 115.10 area has served as a pivot since January 6th. It’s also the 50% retracement from the December 2016 high to the current 2017 low.
So far, the reaction from yesterday’s events is mixed, and the...
Technical analysis:
USD/CAD is expected to trade with bearish bias next week. Bearish pinbar formed as double top from the 20.1.2017
Trend line from January last year holding as resistance, we have already resistance trend line from the 25.5.2016
Zoomed chart (H4) showing broken trend line with H4 bearish outside bar. If we zoomed a little bit more (H1) there is...
