EURUSD weekly candle closed extremely bullish, closing above the resistance and breaking the descending channel formed since September 2018. During the week we may see the EUR retracing slightly to the grey zone, for then to form another leg to the upside.
GBP/CAD rates have fallen during Friday morning’s trading. Therefore, Sterling’s positive spike from earlier this week may be cooling.
My projection is that the pair will fall sharply next week, as we are in the top of an ascending channel that has being a key guidance for the movement of this pair during the last couple of months. Price action shows that the...
We can observe the pair testing key areas. We must take into account the strengthening of the dollar this week thanks to a "relief" in the China-US negotiations and a significant drop in China's GDP.
It is observed that this psychological level has been a point of rebound for the pair numerous times in the past.