EURCAD Downtrend Intact
EURUSD strength remains shadowed by EUR weakness against the likes of CAD and AUD. While EURCAD has hit 2 month lows, it remains set up for prolonged medium term losses towards 1.5250, followed by 1.5130. Despite the speed of the selling over the last 3 sessions, relative momentum indicators (momentum vs. price) indicate prolonged losses on the weekly horizon. Oil's break above $73 has also helped CAD, but the impact of its any oil retreat is seen capping EURCAD 1.5440, before the aforementioned targets are considered.
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Mar 17, 2023 21:28 | by Ashraf Laidi.
Ashraf
Do you think that GBPJPY to go above 1.5060.
Ashraf
do you see resistance on usdcad at 1.05 strong? this level seems to be 0.382 from 1.0990 to 1.020. if it does break what chances would we see 1.068 which is .618.
thanks
peltzy, still bearish GBPUSD. but you're correct, right shoulder stands at 1.67.
Ashraf
Regarding GBPUSD ;
Is the H&S price target of 1.53 - 1.270 still intact? since it hasn't followed a typical pattern and just retest the neckline but went straight through and is now looking for a rebound off 1.64's??
Thanks!