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USD/CAD gyrated lower last week despite weak momentum. Initial bias is mildly on the downside this week for 1.3727 fibonacci level next. On the upside, however, firm break of 1.3903 resistance should indicate short term bottoming, and turn bias back to the upside for stronger rebound. In the bigger picture, price actions from 1.4791 medium […]

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GBP/USD Weekly Outlook

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30/08/2024

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3459; (P) 1.3475; (R1) 1.3500; More… USD/CAD continues to consolidate above 1.3439 temporary low and intraday bias remains neutral. Upside of recovery should be limited below 1.3617 resistance to bring another fall. On the downside, below 1.3439 will resume the decline from 1.3946 and target 1.3176 support next. In the bigger picture, […]
07/12/2023

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2536; (P) 1.2575; (R1) 1.2598; More… Intraday bias in GBP/USD stays on the downside at this point. Fall from 1.2731 short term top would target 55 D EMA (now at 1.2436). On the upside, above 1.2613 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as […]
24/10/2024

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2887; (P) 1.2941; (R1) 1.2974; More… Further decline is expected in GBP/USD as long as 1.3070 resistance holds, despite loss of momentum as seen in 4H MACD. Fall from 1.3433 should target 61.8% retracement of 1.2298 to 1.3433 at 1.2732. However, firm break of 1.3070 resistance will indicate short term bottoming, and […]