See also
The latest trading plan for USD/CAD aimed to raise the price of the pair.
And as expected, the pair hit the first target today, leading to a breakout and a new, albeit small, ABC pattern.
Like before, wave "A" represents yesterday's upward movement. Traders could use this as basis when opening long positions, following the scheme presented above. Set stop-loss at 1.31200 and take profit upon the breakdown of 1.31930 and 1.32400.
The trading idea came from the "Price Action" and "Stop Hunting" methods.
Good luck in trading and don't forget to control the risks! Have a nice day.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Analysis of Thursday's Trades 1H Chart of GBP/USD On Thursday, the GBP/USD pair also traded with minimal volatility. Strangely enough, there was quite a lot of interesting data released yesterday
Analysis of Thursday's Trades 1H Chart of EUR/USD On Thursday, the EUR/USD currency pair traded in a near-flat range with very low volatility (around 50 pips). After the storm
The GBP/USD currency pair remained flat with minimal volatility throughout Thursday. The current decline halted around the 1.3369 level, and the technical picture now suggests that the dollar's rise
The EUR/USD currency pair continued to decline on Thursday after an unexpected surge on Wednesday evening. Recall that on Wednesday evening, it became known that Donald Trump again wants
On Wednesday, the GBP/USD currency pair continued to decline throughout most of the day, until an inexplicable surge in the evening. Recall that on Tuesday, the U.S. inflation report
On Wednesday, the EUR/USD currency pair continued to trade downward, but in the evening it suddenly surged upward. Once again, there were no clear reasons or grounds for the pair's
Analysis of Tuesday's Trades 1H Chart of GBP/USD The GBP/USD pair also plummeted on Tuesday following the release of the U.S. inflation report. In recent weeks, the British pound
Analysis of Tuesday's Trades 1H Chart of EUR/USD The EUR/USD currency pair plunged sharply on Tuesday following the release of the U.S. inflation report. As the saying goes, nothing foretold
On Tuesday, the GBP/USD currency pair continued its downward movement. Although core inflation in the U.S. rose exactly in line with forecasts—and the core rate even accelerated less than expected—the
For most of Tuesday, the EUR/USD currency pair continued to trade with minimal volatility, moving sideways. The Eurozone industrial production report showed a relatively strong reading
Graphical patterns
indicator.
Notices things
you never will!
InstaTrade in figures
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.