Daily Analysis | USD/CAD | 8 of September

Posted 08 September, 2017

 

The EUR/JPY has been making lower highs and lower lows and the previous retracement has broken the trend line suggesting further downside. If the price gets to 130.10-28 POC (trend line, X cross, EMA89, D L3, WL3, 50.0) we might see another rejection towards 129.50. Break of 129.50 should target 120.20 and only a high downside momentum can push the price towards 128.69 - Weekly camarilla L5 support.


W L3 - Weekly Camarilla Pivot (Weekly Interim Support)
W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

 

                                                                                                               By Nenad Kerkez | Admiral Markets

 

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Previous forecast

11 September, 2017 15:21

← Daily Analysis | EUR/USD | 11 of September

The EUR/USD retraced from its highs on Friday and currently it is retracing towards the POC zone. The POC (D L4, W L3, EMA89, ATR Pivot, Bullish order block, 61.8) is 1.1970-1.1985 and we could see a bounce. Historical buyers should align with now moment buyers within the zone and the target is 1.2046-1.2068. Only a breakout and/or 4h close above 1.2070 should rally the price towards 1.2103 and 1.2157. Bears could gain the upper hand below 1.1945 and if the price gets below the target is 1.1910.

Daily Analysis | EUR/USD | 11 of September

Next forecast

07 September, 2017 15:25

Daily Analysis | USD/CAD | 7 of September →

As we have seen tightening in the US by the Fed over the past year, there usually is a correlation with other Western economies following the US lead in returning Monetary Policy to historical levels. In this case, the BoC had increased their rate for the second time in recent months largely following an improvement in GDP Growth, along with price stability in their major export Oil and Gas. Needless to say, BoC is somewhat hamstrung with its ability to continue hiking due to its high household debt levels along with real estate prices in Toronto having dropped 20% since April 2017.

Daily Analysis | USD/CAD | 7 of September
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