- While the euro-zone slowdown supports a weaker euro, the recent bullish rally in oil favors a stronger Canadian dollar.
- On a technical level, EURCAD has just broken out of a bearish flag formation on the 4h chart, revealing further downside potential. The next major resistance level is at 1.48855, which is why it is our target.
- Entry: 1.50640
- SL:...
- The Westpac Consumer Confidence released by the Faculty of Economics and Commerce Melbourne Institute dropped to -4.8% in March (Previously 4.3% in February).
- On a technical level, the pair just bounced off a major daily S/R level before heading down. We are currently shorting the pair after a small pullback and a rejection of the 0.5 Fib level.
- Entry:...
- This week's message from the ECB was more dovish than expected. Therefore, I expect Euro weakness to continue next week.
- On a technical level, price has just broken below the 125 level and below the ascending channel. Leaving room for price to continue falling towards the 124 and 123
levels.
- Entry: Between 124.90 - 125.00
- SL: 125.50
- TP1: 123.00
-...
