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USDCAD Short off Monthly toward 1.29250USDCAD meets its first monthly resistance test at 1.37900 since breaking through around a staggering two years ago (9 March 2020). Although the following weekly resistance at 1.46294 gave way for USDCAD to dip back below its first breakout of 1.37900 halting any further upswings. My only concern is a scenario where price gains enough bullish strength and yet again pops off from 1.37900 for a tap all the way into the following weekly resistance at 1.46294 . Considering a bearish pin bar has already formed on the weekly chart and consolidation ahead on the Daily, the latter idea of a bounce lower from 1.37900 toward 1.29250 is more plausible. Update trades as these are pending orders.
Short
by HuracanFX
USD/JPY Bullish short-term gainsUSD/JPY has hit four-month highs amid optimism on trade and Brexit. Mid-October's daily chart is painting a bullish picture. China has reported the slowest growth level since the 1990s – an annual increase of only 6% in Gross Domestic Product in the third quarter. The world's second-largest economy continues experiencing a slowdown . Ultimately the bigger picture is of a slowing global economy, and that points to falls in USD/JPY. Upside momentum on the daily chart and has crossed the 108.50 level – which was a considerable resistance line, now serving as support. Resistance awaits at the 109-109.10 region Looking down below 108.50, the next cushion awaits at 108.15, which limited USD/JPY's gains in late September. Next, 107.50 Follow HuracanFX™ LLC Telegram : t.me Facebook : www.facebook.com Instagram : www.instagram.com Twitter : twitter.com Youtube : www.youtube.com
Long
by HuracanFX
GBP/USD Eyes 1.34 HandleFundamentally : Sterling refuses to push much lower, despite growing talk of a 0.25% interest rate at the end of the month. Turnover is limited with the US market closed in observance of Martin Luther King Day but any selling pressure is met by buyers and the downside for now looks limited. Technically Key level of 1.30 Psychological zone seems to be keeping the Pound above Bearish territory. Price Action suggests along with fundamental backing that Sterling will continue seeing a Bullish run amid post General Election Business sentiment. Break and close Below sees Bears return with next Bearish Target of previous Support at 1.28 - Although unlikely price may be pushed back into Demand zone of 1.22. This unlikely but still possible - only with unexpected high impact news driving a reaction validation towards this extreme low. For now, Bullish bias remains as Sterling creeps toward the upside.
Long
by HuracanFX
USDCAD Potential push to UpsideA Dovish FED Seeking to Cut Rates. A Channel up identified with price gaining bullish steam after FED signals a rate cut with a dovish outlook towards the Dollar. USDCAD gains a fundamental push backing price swings toward hard weekly resistance of 1.35200. From a technical viewpoint, USDCAD sees verified support at 1.30450. Currently in a range bound zone between support @ 1.30450 and resistance @1.31455 Scenario 1. We see price reject of resistance 1.31455 and back down to initial support. Scenario 2. Resistance breaks and daily swings should be favourable as weekly target of resistance @ 1.35200 comes into sight.
Long
by HuracanFX
3
GBPAUD LONG SET - DISTRIBUTIONGBPAUD - After a strong bullish movement over the months from 1.6000 ( MAR 19' ) settling in at 1.87200 (MAY 19') GBPAUD finds itself in a distribution phase after this bullish trend to the upside of 1.87200 . The overall bullish momentum carries over to the Daily with an upside from support of 1.81500 , locking in Daily resistance around the 1.84100 zone and 1.86650 respectively - This comes just shy of Monthly Resistance at 1.87200 - a key point for this pair. Below linked Monthly & Daily overview of distribution phase.
Long
by HuracanFX
USDNOK Brink of Bearish MoveUSDNOK affected by oil reactions over the last few weeks - forming a wedge pattern as a result that could see a break to the downside. Contributing to the fact of a strong #Dollar, in addition to #Oil bullish prices. #huracanfx A push to the downside as #Daily Resistance confirms our trade additionally as a third possible touch around 8.82000 as price hovers expectantly around this barrier. The downside carries the recent 4hr low at around 8.874200 zone with support levels following soon at 8.73500 and the final 8.70000. Daily Third Touch Possible 4hr Wedge Formation 4hr Wedge Formation Outlined 4hr Support Levels Like and Follow on Facebook Join the Gold Group t.me/Huracanfxgold #huracanfxgold #huracanfxgroup #huracanfxsharesandcares #usdforhuracanfx
Short
by HuracanFX