Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

FX Setups: USD/CAD, EUR/NXD, EUR/JPY

Published 06/23/2017, 07:34 AM
Updated 05/14/2017, 06:45 AM

This was not the week that brought us any game changers on the market. Only instrument that had its own milestone was oil, which broke the long-term lows. Apart from that, we got the bounce on the precious metals and continuation of the sideways trend on many FX instruments. Let us show you the best three setups on the market right now.


USD/CAD is creating a flag above the long-term dynamic support. Breakout is near. Yesterday weakness was supported by the better data from Canada. If not the low price of oil, the bearish breakout would be more than sure.


EUR/NZD tried to break the 1.544 resistance but ended up with a bearish engulfing pattern on the daily chart. That is definitely negative.


Tension on the EUR/JPY rises. Sideways trend below the lower line of the flag continues. This indicates a willingness for a breakout. As long as price is above the 123.1, that is the most probable scenario but we will find that out next week.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.