The pair EUR/USD is trading within the descending price channel on the hourly chart. I recommend opening long positions in case of breakdown of resistance at 0.9570 with the aim of going up to resistance at 0.9605-0.9643. Stop below 0.9530.
I recommend to open short positions after breakdown of support at the level of 0.9534 with the aim to go down to the support level of 0.9496-0.9459. Stop above 0.9580.
On the basis of technical modeling on pair pound/dollar the forecast of the further movement was formed and the average urgent predisposition to decrease.
In the given technical situation pound can be sold from the level of 1.0687, you can also put a pending sell order at 1.0801 with the aim of decreasing to the support area at the level of 1.0266-1.0104, a stop at this strategy can be placed at the level of 1.0955.
If we gain a profit of 30 pips or more, we fix 50% of the position, and place the rest of the profit at no-loss. If this forecast for GBP/USD coincides with your opinion, then you should feel free to use this strategy.
USD/CAD is trading in an uptrend on the 4-hour chart. It shows that the USD/CAD is trading above the 55 moving average on the hourly chart (level of 1.3693), which generally contributes to the price increase in the short term. I recommend to work on this pair from the sales on the basis of the existing wave model.
Breaking through resistance at 1.3807 with the aim to go up to resistance at 1.3876 and if it is broken through to 1.3946 will be a signal to open a long position. Stolploss may be placed at the level of 1.3635.
The signal for the opening of a short position is a breakdown of support at 1.3662 to 1.3596, in case it is broken through 1.3512. Stolploss for this strategy may be placed at the level of 1.3815.
Considering that the moving average and the location of the boundaries of the technical figures moves over time, it is necessary to correct their position on the hourly chart. I also recommend opening positions by the end of the hour to avoid false breakouts.
More about USD/CAD trading
If you are interested in USD/CAD analytics, we recommend you to visit the analytics page, where you can find the latest analytics on Forex from top traders from all over the world. These analytics will be useful both for beginners and professional traders. The Forex signals service makes it much easier for beginners to make their first steps in trading on the financial markets. The latest USD/CAD forecasts and signals contain support and resistance levels, as well as stop-loss levels.