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USDJPY TECHS

Bullish Doji Candle

US

Are Growth Stocks Too Expensive?

EURGBP TECHS

Still In Consolidation Mode

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  • RES 4: 1.2949 High Aug 20 and a key resistance
  • RES 3: 1.2896/2939 / High Sep 20 / 2.0% 10-dma envelope
  • RES 2: 1.2849 High Sep 21
  • RES 1: 1.2837 High Nov 30
  • PRICE: 1.2733 @ 06:31 GMT Dec 1
  • SUP 1: 1.2641 Low Nov 25
  • SUP 2: 1.2600/2493 20-day EMA / Low Nov 16
  • SUP 3: 1.2387 Low Nov 10
  • SUP 4: 1.2288 Low Oct 21 and the bear trigger

USDCAD maintains a bullish theme and the pullback from Tuesday’s high is likely a correction. Price has recently cleared 1.2753, 76.4% of the Sep 20 - Oct 21 sell-off as well as 1.2775, Sep 29 high. This strengthens the current bullish set-up and signals scope for strength towards 1.2896 next, the Sep 20 high. On the downside, a key short-term support has been defined at 1.2641, Nov 25 low. A break would threaten the current trend.