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EURCAD: A long term view

Looking the long term picture of EURCAD, we can see that the pair is moving within the rising channel C1 as well we have used Fibonacci retracements, middle of January 2016 to February 2017, covering the whole move (weekly). Heading to daily timeframe, there is a confluence between the 38.2% Fibonacci level and the trend […]

Major Currency Pairs Intraday Overview

Today traders’ primary focus will be US Nonfarm Payrolls (Previous: 200K, Forecast: 200K), US Unemployment Rate (Previous: 4.1%, Forecast: 4.0%) but also UK Industrial Production (Previous: -1.3%, Forecast: 1.5%) and let’s not forget CAN Unemployment Rate (Previous: 5.9%, Forecast: 5.9%). This means that we are anticipating a volatile trading action during all sessions. Let’s overview […]

CADJPY: Sellers may take the control

In daily timeframe, CADJPY was in overbought zone since end of June, according to RSI and Stochastics levels (above 70 and 80 respectively). Heading to H4 timeframe, the pair is consolidating between the support S1/88.20 level and the resistance R1/89.30 level. Following the downward trend line T2 and having crossed below 33 EMA, we suppose […]