It looks like a squeeze play is developing on the EUR/USD 60M charts. It is on the daily charts as well but is obviously not as pronounced. RSI shows a definite uptrend since early May and a definite downtrend for … Continue reading
EUR/USD appears to be bouncing off trendline support at 1.53450. This is confirmed with a possible doji and a bullish close to the 18:00 candle. See below. UPDATE – Pair rose over 70 pips from doji to 1.550 resistance!
USD/CAD is for the third time in three days meeting support around 1.000. Though this against the downtrend aggressive traders might look for a candlestick entry point or a possible head and shoulders reversal formation. UPDATE: 19:14 GMT: USD/CAD did … Continue reading
2:00am GMT USD/CAD formed a bearish doji on the 60M charts near trendline resistance which has been tested 3 times already. I expect the pair to continue downward.