- The pair is being traded at 1.4838 at the time of this report.
- EUR has soared recently against other majors
-CAD has been under pressure recently in light of recent data and Oil price decline last week .
- Yet 1.485 is a strong resistance level and hard to see the pair breaking through this level.
EURGBP – Swing trading setup
- Bullish technical structure may be valid during the near future ( mainly as a result of weak pound)
- We may see the pair breaking through the wedge Finally
- The level 0.888 has been a firm support level during the last recent days
This is a position trading setup :
Main Talking points:
- first bullish cycle at early stages.
-the pair at wave 2 (strong dollar in light of rate hikes by the fed - see futures on fed odds to hike rates up to the end of this year and ECB decision)
- we may say the pair pushed down further in the short term.
This is a midterm trading setup:
Main talking points:
1- GBPAUD is trading around 1.690 at the time of this report.
2- Manufacturing PMI under the spot line at 08:30 GMT
3- the level ish in 1 may be a signal of trend exhaustion
4- we may see the pair starting a reversal move toward a resistance level as it ...
Main talking Points
- US dollar has gained value in recent days against its major currency counterparts.
- 1 may be a technical correction in light of the above point
- USD/JPY may struggle to break through the trend line established since early September making the downward slope trend line a strong resistance ...