The USD is falling down

October 3, 2016

EUR/USD

We have a couple of options when it comes to Euro. Firstly, if that single currency start rising to the 1.1455 (bullish trap) level, then we should start selling the pair hard. Let’s wait for the candlestick patterns to form as a stop loss will have to be put too far beyond the level 1.1616, if a limit order has been set:

Let’s buy euro away from ascending channel and the broken weekly channel, which I have partially marked by the green line:

Buy Limit 1.1090, Stop Loss 1.1030, Take Profit 1.1450.

GBP/USD

As for the British currency, again we have approached the 3rd point of ascending channel forming dojis:

The rate is forming a potential second shoulder of the inverse head and shoulders pattern on the 4-hour chart.Therefore we have to go with the old gentleman again:

Buy 1.2973, Stop Loss 1.2905, Take Profit 1.3175.

USD/CAD

As for the Canadian currency, we plan on selling the pair away from the 1.3235 level, which repeatedly resisted the pair and formed a bullish trap:

Sell Limit 1.3235, Stop Loss 1.3295, Take Profit 1.3020.

Publication source
Tickmill information  Tickmill reviews

December 2, 2016
It's not the jobs numbers
It’s not bee the economy that has been driving the dollar over the past 3 weeks, of that we can be pretty sure. Rather, it’s been expectations of tax cuts and spending increases, together with incentives for dollar repatriation under the new President...
December 2, 2016
OPEC alliance stuck a global agreement
The Oil prices jumped on Wednesday after the organisation members agreed to pare production first time since 2008, to reduce global oversupply, which made the prices collapse by half since mid-2014...
December 2, 2016
Rebound continues in UK construction
The latest data on the UK construction sector was released this morning, and will likely be seen as positive overall as the recovery from the Brexit shock appears to be persisting. Despite this the FTSE 100 is under pressure this morning...

Vantage FX Rating
Orbex Rating
XM Rating
HYCM Rating
 FXTM Rating
XTB Rating

IQ Option Rating
Porter Finance Rating
Beeoptions Rating
OptionFair Rating
TopOption Rating
24option Rating