Today update 21.04.2021
Hello, everyone! How are you all doing? Well, I’m kind of happy today because my trade finally started trading in my favour. Yesterday crude oil dropped sharply and CAD also lost its strength which was pretty good for my trade. Today I’m going to share my analysis on USD CAD, GBP USD, and EUR USD pairs. I hope you will like my analysis.
USD CAD elaboration
USD CAD pair has been closed above the channel. Currently trading at 1.2611 level. This time USD CAD pair bounced off from its strong support and there it had completed triple bottom. So whenever a pair bounces off from its bottom, then it has more power to break all the resistances very easily. I’m already on the buy trade. And I will be suggesting buying USD CAD pairs for the next resistance. I'm sure it will go up and will target the 1.2787 level soon. Yesterday it had a very nice bullish candle on the h4 time frame, and I’m sure it will have the tendency to rise more.
GBP USD elaboration
The GBP USD pair yesterday touched it's top 1.40030 and then fell sharply. I was exactly expecting the same from GBP USD, yesterday I have mentioned the trade entry points and I hope you guys haven’t missed it. But you missed it then you don’t need to be worried it’s still valid and this pair will go down more. I have made my analysis on the h4 time frame. It has created a harmonic bearish bat pattern and also on a daily time frame it has touched the broken area yesterday. So it will go down best to sell on the dip.
EUR USD elaboration
EUR USD pair yesterday got to 1.2077 level and then started down journey. Currently trading at 1.1923 level. I have made my analysis on the h4 time frame this pair is yet holding above the trend line. I will be suggesting waiting for the pair to break below the trend line then sell it for the next target of 1.1800. Also, on a daily time frame, the pair has closed below yesterday candle which proved that the bullish breakout was fake. Sell the pair and grab the profit.