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Today, the market is awaiting report and rate decision from BOC at 10am Eastern Time.
The currency pair USDCAD is break upward the resistance level R1, which is also 61.8% of Fibonacci level, and the pair is now reaching R2 level, the strong resistance...
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As discussed in a post yesterday, the rise in oil price will sparks fire in different currencies and markets. Today, let’s see the upcoming events that will affect the USD currency movement.
USD
Q1 GDP data of United States is the main concern for this...
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Oil prices rally more than 2.5% on reports that United States likely to end waivers for Iran sanctions. The news widely reported across major newspaper.
This definitely is a good news for oil markets and companies.
From the charts below, we can see that...
S&P500 is approaching the strongest resistance since SEP 2018, the highest level we had seen.
If the trend cannot break this level significantly, we might see it retrace and touch the S1 level in 3 months to 6 months time.
USDJPY Weekly Analysis - Potential Short Opportunity
We successfully spotted the potential downtrend in USDJPY 1-Day and 1-Hour Chart.
1-Day Chart
1-Hour Chart
This is mainly due to the weaker US Dollar Index as we can see in 1-Day Chart.
Based on the chart, the potential entry price is 112.400. If the trend breaks upward, we shall set the Stop...