Today, after the eurcad broke through the important resistance at 1.6030 to 1.6070, the turn down in the US session. Looking at H4, the current eurcad is at 1.5930, out of the H4 trendline and below the strong resistance of H4 at 1.6030. As such, the buying pressure has weakened and the selling pressure has strengthened. Sell when the price is about 1.6020
TuHoang's Blog
USDjpy
The rapid appreciation of the yen since early 2018 has made it one of the best performing currencies so far. Usdjpy has dropped more than 700 pips from 113.20 to 105.50 and is also the strong support and resistance level of W1. The strength of the yen, if sustainable, could also reduce prices and derail Japan's efforts to reach the 2% inflation target, which could lead to intervention by policy makers. . Buy when the price of 105.30
EURusd
The European Union also recorded a strong recovery in yesterday's session by the weakening of the USD. However, the euro may face risks from upcoming political events in Europe. This week Italian parliamentary elections will take place this week, and the party tends to split Italy from the European Union, which is currently dominated by the Five Star Movement. The resistance at 1.2355 and the strong support at 1.2130.
Dollar lost
The dollar lost ground in early March and reversed its gains against other major currencies after President Donald Trump announced that it would impose import duties on aluminum and steel, raising concerns about outbreak of a new trade war. The decline of the dollar helped the British pound to stop the decline yesterday. However, the GBP / USD may return to the 1.36 level because of fears of brexit talks.
EUR and GBP
Last February saw EUR and GBP depreciate more. Economic data mixed - although German data show fewer people want unemployment benefits, European CPI growth fell slightly in February. EUR may drop further due to pressure on major European political events such as the Italian election and the SPD vote in Germany. GBP may fall further as the negotiating situation for Brexit deteriorates
Waiting
Europe opened today (06/02) Eur recovered strongly after touching the strong support at 1.2350 as the market was excited by the news. "German SPD's Schulz: I Have Good Reasons to Believe We Will Finish Today's Talks. Thus, according to chart D1, the upward trend of Eurusd is still quite strong. If the end of the political talks as the news is issued, Eurusd will jump to 1.2500 and move towards 1.2650. In contrast, Eur will sideway and wait for another trend.
EURusd
Eurusd dropped two consecutive days before ECB President Draghi's Speech. The price is trading at 1.2400. From a technical point of view, EURUSD remains firmly bullish on the daily charts. But according to chart H1, Eurusd formed a two-peak pattern and price moved downward to the strong support at 1.2420. A breakthrough decision of 1.2500 could be higher than 1.2650. In addition, weakness remaining below the resistance of 1.2500 may see a decline to 1.2350.
Dollar
The dollar was down slightly against most of its major counterparts yesterday, although the Fed was optimistic about the prospects for growth and inflation of the world's largest economy. At the same time, the signal can raise interest rates faster. Although the Fed sent a fierce message about raising interest rates, the dollar was weaker against most of its major counterparts. Eurusd is still on the rise. Critical support at 1.2430 and strong resistance at 1.2480.
GBPusd (18/1)
Today (18/1) weekend, Usd has a slight rebound against Eur and Gbp after long days of weakness. In Europe, Gbpussd continued to rebound, touching the resistance at 1.3940 set on Wednesday. As Gbp's economic data was weaker than expected, Gbp ended the uptrend and fell back to H1 support at 1.3840 and currently sideways at these two levels. We expect next week usd will continue to recover.
GBPussd
Today (18/1) Europe, Usd still weaken against other currencies, no signs of recovery, where Gbpusd rose to the highest in three years, set the peak at 1.3940. Currently, the price is trading at 1.3860, observed chart H1, the support at 1.3802. US markets are expected to be volatile, trading near 1.3940-1.3800. Sell when the price up.