Репост из: FBS Analytics
☕ Trade ideas for Wednesday
EUR/USD failed to overcome the resistance at 1.1640 yesterday. The pair’s awaiting the ECB meeting on Thursday. It's now testing levels below the weekly pivot point at 1.1580 and can fall further to 1.1530. Commerzbank analysts expect EUR/USD to slide to May and June lows at 1.1508/10.
The economic calendar for the pair includes the eurozone industrial production, US PPI and and the Fed governor Brainard’s speach.
💲 Trade remains the key topic
The CAD strengthened on the rumors that Canada was ready to make a concession in its trade talks with the United States. USD/CAD made a big fall on Tuesday. FBS technical analyst suggests a trade: SELL USD/CAD at 1.3045 with SL at 1.3100 and several TPs – TP1 at 1.2945, TP2 at 1.2895, and TP3 at 1.2800.
The main risk for the trade is that the anxiety over the trade dispute between China and the United States hurts traders’ risk appetite and makes them switch from the CAD back to the USD.
EUR/USD failed to overcome the resistance at 1.1640 yesterday. The pair’s awaiting the ECB meeting on Thursday. It's now testing levels below the weekly pivot point at 1.1580 and can fall further to 1.1530. Commerzbank analysts expect EUR/USD to slide to May and June lows at 1.1508/10.
The economic calendar for the pair includes the eurozone industrial production, US PPI and and the Fed governor Brainard’s speach.
💲 Trade remains the key topic
The CAD strengthened on the rumors that Canada was ready to make a concession in its trade talks with the United States. USD/CAD made a big fall on Tuesday. FBS technical analyst suggests a trade: SELL USD/CAD at 1.3045 with SL at 1.3100 and several TPs – TP1 at 1.2945, TP2 at 1.2895, and TP3 at 1.2800.
The main risk for the trade is that the anxiety over the trade dispute between China and the United States hurts traders’ risk appetite and makes them switch from the CAD back to the USD.