Hi guys, we are reaching 1.264-1.265 soon. I assume, we will see a lot of choppy market around mentioned area. My TP is around 1.264, after reaching this significant resistance, I think we will go down to 1.235 area. FEDs are still very dovish and I don't see any catalyst, for at least next month, to push this pair higher. Moreover, I expect more action from BOC and it could be very good catalyst to push this pair down ( I'm planning to buy the dips around 1.23-1.235). It looks like WTI will be unstable for some time and this could be only one factor that could drive this pair higher, but I expect that OPEC+ will reach agreement soon to keep oil prices high.
In the long term this pair looks very bullish to me, however in the short term I don't see more potential to go higher than 1.265 after recent rally of 600 pips.
In the long term this pair looks very bullish to me, however in the short term I don't see more potential to go higher than 1.265 after recent rally of 600 pips.
