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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
Bulls Eager on GBPUSDWith the current uncertainties keeping GBP pairs consolidated, echoing across correlating Pairs to the Pound, new fundamentals seem like the master key in getting volatility back for FX Traders. Looking over the Pound, one cannot deny that Sterling is at its most cheapest level in years. Forget price and think of value - suggests traders at HuracanFX. Fundamentally : Its a developing high impact news nightmare keeping swing traders on their and somewhat pensive about the next move- and it is likely to develop into a large move at it. Technically : Main 1.30 psychological resistance has been a tough nut to break, as price had shown potential at the first touch but quickly retreating into bearish territory. Note the retest of 1.29 as this resistance can play a vital role of new support for the Pound. USD Weakness coming in to support this move up; however it seems that the pair is looking for more information or a decisive USD move to break from the consolidation pattern. If the main level of 1.30 is broken targets of 1.32 is first up, thus following price up slow and steadily ,creeping its way up to 1.42 with little to no price action in its way to 1.42 from 1.40. Again, looking over to the bigger picture here , the Pound is cheap, overall a bullish momentum as a strong institutional leg from 1.215 Zone. I.e - Why would you be bearish ?
Long
by HuracanFX
USDCAD Long Term Downside SetupUSDCAD Weekly chart gives us an indication of overall price momentum to the downside as price has retested the weekly resistance zone of 1.35200. Overall a break in upwards channel from 1.34150 has seen USDCAD sustain its shorts over the last 3weeks. After a break - Price will usually form a pullback/consolidation zone. Perfect for re-entries. A Weekly Pullback from Support Zone of 1.30200 has encountered yet another wall of weekly resistance of 1.31500. Weekly Depicted Below Daily Chart gives us a bearish flag continuation pattern with ideal swing target set at 1.25000 See below D1 Down to the 4HR Chart, a huge range of consolidation confirms our higher time frame bias on going short on USDCAD Overall . It is important to note that the only driver of higher CAD prices could indeed be fundamental news/ lower OIL prices. Fundamentally CAD sees itself losing steam gained against the USD as FED may hold true of cutting rates.
Short
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
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