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USD/CAD stayed in range trading below 1.4541 last week and outlook is unchanged. Initial bias remains neutral this week first. Price actions from 1.4150 are seen as the second leg of the corrective pattern from 1.4791 high. On the upside, break of 1.4541 will target 100% projection of 1.4150 to 1.4541 from 1.4238 at 1.4629. […]

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11/07/2024

GBP/JPY Mid-Day Outlook

Daily Pivots: (S1) 206.68; (P) 207.25; (R1) 208.34; More… GBP/JPY’s steep decline and strong break of 206.12 support suggest that a short term top is formed at 208.09, on bearish divergence condition in 4H MACD. While deeper decline cannot be ruled out, downside should be contained by 38.2% retracement of 191.34 to 208.09 at 201.69 […]
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USD/CAD Mid-Day Outlook

Daily Pivots: (S1) 1.4264; (P) 1.4339; (R1) 1.4380; More… USD/CAD’s fall from 1.4791 resumed by breaking through 1.4150 support and accelerated to as low as 1.4039 so far. Intraday bias remains on the downside for 61.8% projection of 1.4791 to 1.4150 from 1.4414 at 1.4018. Decisive break there would pave the way to 100% projection […]