The pair has been on an uptrend for several sessions, making an impressive climb with price showing a series of higher lows. In yesterdays session price approached and touched the outlined support zone. A bounce off that zone seems to be in progress at the moment and there is potential for more upside.
Continue reading “Trade of the day: USDCAD”
GBPUSD was locked in a range for the better part of last week. After an impressive rally that commenced on the 24th of August from a low of 1.27732, the FX pair now seems to be taking a breather with an oscillation between 1.35963 and 1.34721.
Continue reading “Will GBPUSD breakout this week?”
The pair has been on a downtrend, as can be seen with the outlined downward channel. Price is around the resistance zone as at the time of writing this report. If the resistance holds, then expect a drop with 1.13648 as target.
On the other hand if the market breaks resistance, then long positions can be opened taking first target as 1.14196, second target 1.14264 and third target 1.14567.