USD/CAD:
The Bank of Canada held rates at 1.75% Wednesday, as widely expected. The central bank stated rates will have to increase to a neutral range in order to achieve its inflation target, noting downward historical revisions to GDP and recent macro developments indicate there may be more room for non-inflationary growth. The impact witnessed the USD/CAD...
EUR/USD:
Since the week’s open the shared currency has struggled to establish firm direction, consequently chalking up three consecutive daily indecision candles.
With respect to the higher timeframes, there’s been little change as far as structure is concerned. Weekly movement continues to meander between resistance priced in at 1.1465 (brings with it a nearby...
USDCAD is approaching first resistance at at 1.3324 (100% Fibonacci extension , 78.6% Fibonacci retracement , Horizontal swing high resistance) where it could potentially to drop to its support at 1.3220(61.8% Fibonacci extension , 38.2% Fibonacci retracement , horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a...
EURAUD reversed off its resistance at 1.5520 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where it is expected to drop further to its support at 1.5431 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 94% where a corresponding...
EURJPY bounced nicely off its support at 127.64 (61.8% Fibonacci extension, horizontal swing low support) where it could potentially rise to its resistance at 128.41 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is bounced off its support at 3.5% where a corresponding rise could occur.
NZDUSD is approaching its support at 0.6883 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.6968 (horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.1% where a potential bounce could occur.
CADCHF has reversed off its resistance at 0.7583 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where it could potentially drop further to its support at 0.7520 (61.8% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) has reversed off its resistance at 98% where a corresponding drop could occur.
XAGUSD is approaching its resistance at 14.49 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is could potentially reverse down to its support at 14.30 (38.2% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could potentially occur.
USDCAD is approaching its support at 1.3171 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.3258 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
GBPUSD is approaching its support at 1.2660(61.8% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 1.2820 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 4.5% where a corresponding bounce could occur.
USDCAD is approaching its support at 1.3227(100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.3323 (76.4% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 4.9% where a corresponding bounce could occur.
EURGBP is approaching its resistance at 0.8927 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.8824 (38.2% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
XAUUSD is approaching its resistance at 1228.7 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 1218.4 (61.8% Fibonacci retracement, horizontal swing high support). Stochastic (55, 5, 3) is approaching its resistance at 92% where a corresponding reversal could occur.
NZDUSD is approaching resistance at 0.6923 (100% Fibonacci extension, 50 & 76.4% Fibonacci retracement, horizontal swing high resistance), where it could potentially reverse down to its support at 0.6765 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support). Stochastic is approaching its resistance at 97% where a corresponding...
AUDCHF is approaching its resistance at 0.73340 (50% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 0.7168 (100% Fibonacci extension, 38.2% Fibonacci retracement , horizontal swing low support). Stochastic (34, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
EURJPY reversed off its resistance at 129.30 (100% & 61.8% Fibonacci extension, horizontal swing high resistance) where it could potentially drop further to its support at 128.84 (76.4% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) reversed off near its resistance at 96% where a corresponding drop could occur.
EURGBP is approaching its resistance at 0.8927 (100% Fibonacci extensionx2, 61.8% Fibonacci retracement , horizontal swing high resistance) where it could potentially reverse down to its support at 0.8824 (38.2% Fibonacci retracement , horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
EURUSD is approaching its resistance at 1.1423 (76.4% & 61.8% Fibonacci extension , 76.4% Fibonacci retracement , horizontal swing high resistance) where it could potentially reverse down to its support at 1.1350 (50% Fibonacci retracement , horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal...
