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NZDUSD the correction not over yet NZDUSD weakness extended overnight, breaking below the early August low and uptrend form March, currently at 0.6597/75, thus completing a small top and finally managing to follow through on the recent bearish “outside day” and the bear “wedge” that is still in place. Beneath .6503 could see weakness extend even further with next support seen at .6466, ahead of .6450/41. It’s worth highlighting the ‘wedge measured objective’ is at .6400.
Short
by Fx_Advisor
USDCHF SNB will try to weaken CHF, longs on dipHi, Powell did not want to weaken USD during FOMC ( or maybe he was trying but market did something different :) ) but SNB knows how to weaken CHF ( very often its short lived LOL ) and we do have SNB rate decision upcoming Thursday From weekly/daily chart perspective looks like buyers are around 0,93 and 0,92, so Im going to use the full zone ( if seen ) Stop: two consecutive daily close below 0,9160 Targets around 0,98 and 1,00 Good Luck
Long
by ForexClub_pl
USD/CAD retracement and SHORT opportunityHello traders, I have just entered this position on USDCAD . I was watching the market for few days and I was looking for a short opportunity. As you can see from the chart, the price reacted on Fibonacci retracement, we can see a false breakout to the upside and a volatile movement to the downside after that. This confirms the short for me. Also on daily chart there is a Pin bar. I am going to close the position at 1.37254 in case the prediction is wrong. Otherwise I want to close half of the position at 1.34389 and the rest around 1.32294 which is the PoC from daily chart. What are your expectations here? Let me know in the comment :-) Take care. John FINEIGHT Team
Short
by Fineight