Forex pairs- Expected directions for the day.

EUR/CAD- Pair is seems very positive to buy as we can see a rounding bottom pattern on the daily chart which is providing us bullish signal. Odds are in favor of bullish and intraday bias remains bullish on the pairs as long as 1.5500 level remains intact. The 1.5850 is key resistance level followed by 1.6000 level whereas 1.5500 level is key support level followed by 1.5400 level.  One can go for buy for the target of 1.6000 level with very tight stop loss of 1.5500 level. Pair is trading above all the major and minor EMA lines and a bullish crossover on the MACD indicator is favoring the bulls.

 

EUR/AUD-  On daily chart we may see so many choppy sessions but on hourly chart we can see that pair is trading and sustaining above all the major and minor EMA lines which are providing us bullish signal. Recently we can see a bullish marabuzo candlestick followed by a bullish flag pattern which is providing us bullish signal. The RSI and MACD both are providing us bullish signal and favoring the bulls. The 1.6500 is key resistance level followed by 1.6600 levels where as 1.6320 is a key support level followed by 1.6200 levels.

Disclaimer: This is to be considered a marketing communication only, this does not contain, and should not be construed as containing, investment advice or an investment recommendation or investment research or, a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. Past performance is not a guarantee of or prediction of future performance. Cabana Capitals does not take into account your personal investment objectives or financial situation. Cabana Capitals makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of Cabana Capitals, a third party or otherwise. Consequently, any person acting on it does so entirely at their own risk. This material has not been prepared in accordance with legal requirements promoting the independence of investment research and it is not subject to any prohibition on dealing ahead of the dissemination of investment research. All expressions of opinion are subject to change without notice. Any opinions made may be personal to the author and may not reflect the opinions of Cabana Capitals. This communication must not be reproduced or further distributed without prior permission.



Leave a Reply